| WHO ARE THEY? • The Scripps Research Institute is the world's largest, private nonprofit biomedical research facility. • Total assets in 2001 were $396.9-million. • Founded in 1961 by a small group of immunopathologists led by Dr. Frank Dixon. |
| WHAT DO THEY DO? • Recognized for research into immunology, molecular and cellular biology, chemistry, neurosciences, autoimmune diseases, cardiovascular diseases and synthetic vaccine development. • Achievements: The 2001 and 2002 Nobel prizes for chemistry; completed chemical synthesis of the FDA-approved drug Taxol, used to treat ovarian cancer; traced human aging and associated diseases to a gradual increase in cell division errors; determined structure of antibody that neutralizes the virus that causes AIDS. |
| WHAT ARE THE TERMS OF THE DEAL? • Bush wants to spend $310-million to lure a branch of the Scripps Research Institute from California to Florida. • About $50-million of the total would be spent on the technology. • Millions more would be spent to pay the salaries of the company's employees for the first eight years. • Palm Beach County would spend $100-million to build a 364,000-square-foot facility. • Bush called the Legislature into special session beginning Oct. 20 to approve the deal and to consider creating a $190-million economic development to lure other companies to Florida. |
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SOURCE: Scripps Research Institute
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