that see potential for growth in the Miami Health District’s new University of Miami Life Science & Technology Park (UMLSTP), developer Wexford Science & Technology has finalized a lease with national intellectual property law firm Novak Druce + Quigg LLP. The firm will locate a new Miami office within the UMLSTP’s first building, a 252,000 square foot facility that will house wet and dry labs, offices, retail space and lab-ready development suites – all intended to help knowledge-based research and product development teams foster innovation and commercialize technology for public use and benefit. Terms of the lease agreement were not disclosed.
Novak Druce will occupy space in the park’s Innovation Center, which offers turnkey lab and office space for new technology-based entities and incubation-stage startups seeking access to wrap-around business services that will support their growth. To date, the UMLSTP has pre-leased more than 40% of its first phase building, with Novak Druce becoming the newest addition. Signed tenants include the University of Miami Tissue Bank, new-to-market medical diagnostics firm Daya Medicals, and the Enterprise Development Corporation of South Florida (EDC), which is a business incubator for regional biotech firms.
Novak Druce, which has a strong life sciences practice at offices across the U.S., plans to assist companies based at the UMLSTP and throughout the Miami area in securing, defending, protecting, and challenging intellectual property status for their products in preparation for commercialization. The firm has existing offices in Houston, Washington, D.C, San Francisco, and West Palm Beach.
“Along with groundbreaking discoveries and new technologies comes the demand for business development and support services, including those provided by an IP law firm like Novak Druce,” said Catherine Vorwald, director of business development for Wexford Science & Technology. “As the UMLSTP and the broader Miami Health District continue to evolve into an international research and development destination, tenants like Novak Druce will help build the commercial infrastructure that will ultimately transform this area into a self-sustaining cluster of innovation and commercialization.”
Warren Pinkerton, Chief Strategy Officer for Novak Druce, links the firm’s Miami expansion to its longstanding relationship with the University of Miami and the city’s promise as a hub for the life science and technology sectors. “We view the University of Miami Life Science & Technology Park as one of the State’s premier R&D facilities, a place that will both nurture the dynamic community of technologists, researchers, entrepreneurs, and innovators in South Florida and draw new companies to the region. The quality and sheer amount of research and innovation coming out of both the University of Miami and South Florida is compelling, and frankly, very exciting.”
The first phase of the UMLSTP is set for completion in the summer of 2011. The project’s current master plan includes five buildings comprising between 1.6 and 2 million square feet of space. In addition to lab and office space, the park will contain restaurants and retail to serve the Miami Health District and residents of nearby neighborhoods. Development of the park’s first building is projected to create more than 1,150 direct and indirect jobs, with an additional 2,700-plus direct and indirect positions created by ongoing operations, according to a recent study by the Washington Economics Group.
To learn more about the park or to inquire about leasing opportunities, contact Bill Hunter of Wexford Science & Technology at (305) 298-4578 or the Miami-based Jones Lang LaSalle team of Richard Schuchts, Catarina Jimenez and Gavin Macphail at email@example.com or (305) 728-8999.
About the University of Miami Life Science & Technology Park
The University of Miami Life Science & Technology Park is a predominantly privately-funded endeavor developed by Wexford Miami, LLC, a subsidiary of Wexford Science & Technology, LLC, in partnership with the University of Miami. Located in Miami’s Health District and adjacent to the University of Miami Leonard M. Miller School of Medicine, the park will be home to best-in-class research facilities that bridge academia and industry, thereby fostering collaboration and innovation that positively affects people around the world. Development of the park will also make a direct impact on the South Florida economy, resulting in the creation of jobs and further diversifying the region’s economic landscape. UM LSTP is located on an 8.8 acre site bounded by Interstate-95 on the east, NW 7th Avenue on the west, NW 17th Street on the south and NW 20th Street on the north. Construction of phase one of the park began in late 2009 and is scheduled for completion in summer 2011. Learn more at www.umlstp.com.
About Novak Quigg + Druce LLP
Novak Druce + Quigg LLP is a national law firm focused exclusively on complex intellectual property matters. With a renowned patent reexamination practice and more than 80 attorneys and professionals in offices in Houston, San Francisco, Washington DC, and West Palm Beach, Novak Druce attorneys help our clients navigate the complexities of U.S. intellectual property law by securing, enforcing, and defending their intellectual property rights. Novak Druce has been named the #1 firm in the WORLDleaders International IP Awards - North America / Canada Patent Excellence for the past three years (2009, 2008 and 2007). The Novak Druce Centre for Professional Service Firms at Oxford University launched in October 2009. For additional information, please visit www.novakdruce.com.
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