DSM
CAPITAL PARTNERS
Finds a New Home in Palm Beach Gardens With its low taxes and high quality of life, Palm Beach County DSM Capital Partners has clients all over the world, so continues to attract financial services firms from the there was no need to maintain a physical office in the Northeast, Northeast United States. Last year, DSM Capital Memishian added. The firm has about $7 billion in Partners decided to relocate from Mount Kisco, assets under management, and attracts corporate N.Y., and the 15-year-old equity investment pension plans, foundations, endowments and highcompany recently settled into its new home in net-worth individuals. Palm Beach Gardens. DSM Capital Partners is a growth stock firm “We’ve received a very warm welcome from with an intermediate to long-term investment the community, and really appreciate all that the horizon. “We search for growing businesses with Business Development Board has done to attractive returns, solid business fundamentals and facilitate our move,” said Steve Memishian, who intelligent management,” Memishian said. “To find co-founded the firm with Dan Strickberger in these companies, our investment team combines 2001. “We have moved most of our employees intensive fundamental research with a rigorous and their families here, and now have 19 team valuation methodology that we believe reduces members at our new headquarters.” risk and enhances long-term returns.” Memishian said Florida’s positive tax climate Looking back on the move, Memishian thanked – including no local or state income tax, and Gary Hines, BDB senior vice president, for his no state inheritance tax – was the primary Stephen Memishian special assistance. “Once we found a building, Gary consideration behind the move. “If you are looking co-founder of DSM Capital Partners helped us through the real estate and construction to reduce your tax burden, then Palm Beach County deserves process,” he said. “He also organized and led a school trip for our serious consideration,” Memishian said. “The housing stock is families and introduced them to professionals who could answer excellent, there is superb high-speed data connectivity (an office their relocation questions. I never thought an economic can be anywhere), the roads and airport infrastructure are in development organization could be so helpful and effective, and great shape, and the climate is of course attractive.” we appreciate all of the BDB’s support.”
BlinkBio Relocates to Jupiter, joining Scripps in Fostering Collaborative R&D BlinkBio Inc., a privately held biotechnology company, has relocated from Long Island, N.Y., to Palm Beach County and has entered into a use agreement with The Scripps Research Institute (TSRI). Over time, BlinkBio anticipates making a capital investment of over $1.65 million and expects to hire 25 new employees with an average wage of $94,880. “The Scripps team laid out a compelling case for its strong institutional commitment to supporting an emerging biotech cluster,” said Colin Goddard, chairman and CEO of BlinkBio. “The impressive achievements of local and state governments in recruiting both TSRI and Max Planck, two world-class research institutes, and the existing core biotech infrastructure present an additional compelling basis to consider relocation.” BlinkBio was formed to exploit Bioorthogonal Linker (“BLink”) chemistries for the discovery and development of novel drug conjugate therapeutics in the treatment of cancer and other diseases. Over the last several years the company has demonstrated the favorable
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characteristics of its proprietary silicon-based linker chemistries in the development of a unique SiLinker and Payload Cassette platform for incorporation into novel drug conjugates. Kelly Smallridge, BDB president and CEO, said, “BlinkBio is committed to creating new therapeutics for the treatment of cancer and other life-threatening conditions including autoimmune diseases, and the agreement with TSRI provides access to the Institute’s worldclass facilities and services and creates an ideal environment for the exploration of the kind of win-win collaborative partnerships that can lead to value-creating transactions and new company formation.” BlinkBio Inc. is a great example of the type of company the Town of Jupiter had in mind when it first created its economic development fund in 2006, said Mayor Todd Wodraska. “Its impressive research and progress in the cancer treatment space, strong and experienced management team, and relationship with TSRI all make them a perfect fit for the Jupiter bioscience community.”