Burrill, Partner Plan Minnesota Biotech Park

Burrill & Co., the San Francisco-based life sciences investment firm, is teaming up with real estate developer Tower Investments to create Elk Run, a bioscience business park in Pine Island, Minn., near the Mayo Clinic. The partners say the 2,325-acre park will have a companion private equity/venture capital fund that supports development of new technologies emanating from Mayo, the University of Minnesota, and private entities. Elk Run is also expected to attract new biotech and biomedical businesses to Minnesota. Founded and led by G. Steven Burrill, Burrill & Co. claims to have assets worth nearly $1 billion under management. "We recognize that, at a time of economic dislocation around the world, investing in innovative life sciences companies and attracting these companies to the region will create jobs and ultimately improve patient care," Burrill says.