Headquarters location will create 51 new jobs and $2.75 million capital investment
West Palm Beach, FLA –The Business Development Board of Palm Beach County (BDB), in cooperation with Enterprise Florida, the Florida Department of Economic Opportunity, CareerSource Florida, and the Town of Jupiter, is pleased to announce that CTD Holdings (OTCQB:CTDH), a biotechnology company that develops cyclodextrin-based products for the treatment of disease, will establish its corporate headquarters in Palm Beach County.
The company will lease space in Jupiter where it will add 51 jobs and invest $2.75 million in the region.
Kelly Smallridge, President and CEO of the Business Development Board of Palm Beach County, said, “CTD Holdings is an example of the many sophisticated biotechnology companies that are locating to and expanding in Palm Beach County. To further strengthen and grow Palm Beach County’s life science ecosystem and proactively attract more businesses like CTD Holdings, the BDB created a Life Science Advisory Council. The Council is a collaborative effort between the BDB, educators, research institutes, hospitals, government, and medical device, pharmaceutical / nutraceutical, venture capital, and technology transfer companies.”
“CTD Holdings is pleased to be locating to Jupiter in order to build out our company and our drug development programs,” said N. Scott Fine, CTD Chairman & CEO. “We are grateful to Governor Scott and his team, as well to our local colleagues and officials in Palm Beach County and the City of Jupiter for all their support as we make this important move.”
Cissy Proctor, Executive Director of the Florida Department of Economic Opportunity, said, “CTD Holdings’ relocation to Jupiter is great news for our state and highlights Florida’s strong business-friendly environment. Companies like CTD recognize the opportunities our state provides to grow their business. I look forward to the company’s bright future in Florida.”
“CTD Holdings’ selection of Jupiter for its corporate headquarters is excellent news for the town and surrounding communities,” said CareerSource Florida President and CEO Chris Hart IV. “The CareerSource Florida network stands ready to help meet the recruiting, hiring and training needs of CTD Holdings and other businesses expanding in or relocating to Florida.”
“I’m pleased that a quality company like CTD Holdings is joining Jupiter’s growing community of biotechnology companies. CTD’s presence in Jupiter not only provides high-quality bioscience jobs, it also helps to further solidify Jupiter’s position as a biotechnology hub where important scientific advances are realized,” said Jupiter Mayor Todd Wodraska.
About CTD Holdings: CTD Holdings, Inc. is a biotechnology company that develops cyclodextrin-based products for the treatment of disease. The company’s Trappsol® Cyclo™, an orphan drug designated product in the United States and the EU, is used to treat Niemann-Pick Type C, a rare and fatal genetic disease. Additional indications for the active ingredient in Trappsol® Cyclo™ are in development. For additional information, visit the company’s website: www.ctd-holdings.com.
Enterprise Florida, Inc. (EFI) is a partnership between Florida’s businesses and government leaders and is the principal economic development organization for Florida. EFI facilitates job growth through recruitment and retention, international trade and exporting, promotion of sporting events, and capital funding programs to assist small and minority businesses. EFI launched “Florida – The Future is Here” to promote the state as the nation’s premier business destination.
About the BDB: The Business Development Board of Palm Beach County is the official public/private economic development organization for Palm Beach County and Enterprise Florida. Founded in 1982 as a not-for-profit corporation, our primary purpose is to attract and retain new industry, business investment, high quality jobs and workforce development through corporate relocations, expansions and international trade. During the past five years, the BDB has assisted companies that have created more than 13,000 direct jobs with average salaries greater than $68,000, resulting in more than $627 million in capital investment to Palm Beach County and an economic impact that exceeds $6.95 billion. Additional information can be found at the BDB’s web site, BDB.org.
Safe Harbor Statement:
This press release contains “forward-looking statements” about the company’s current expectations about future results, performance, prospects and opportunities. Statements that are not historical facts, such as “anticipates,” “believes” and “expects” or similar expressions, are forward-looking statements. These statements are subject to a number of risks, uncertainties and other factors that could cause actual results in future periods to differ materially from what is expressed in, or implied by, these statements. The factors which may influence the company’s future performance include the company’s ability to obtain additional capital to expand operations as planned, success in achieving regulatory approval for clinical protocols, enrollment of adequate numbers of patients in clinical trials, unforeseen difficulties in showing efficacy of the company’s biopharmaceutical products, success in attracting additional customers and profitable contracts, and regulatory risks associated with producing pharmaceutical grade and food products. These and other risk factors are described from time to time in the company’s filings with the Securities and Exchange Commission, including, but not limited to, the company’s reports on Forms 10-K and 10-Q. Unless required by law, the company assumes no obligation to update or revise any forward-looking statements as a result of new information or future events.
