Groundbreaking Held for Cool Springs Life Sciences Center.

Business Editors & Health/Medical Writers

FRANKLIN, Tenn.--(BUSINESS WIRE)--Oct. 9, 2002

The three charter tenants of the Cool Springs Life Sciences Center (CSLSC) symbolically placed their company's "markers" on a six-foot DNA replica to signify the start of construction of the $74 million state-of-the-art biomedical research facility yesterday. When completed, the 10-acre Center will be home to life sciences-focused research and development facilities for biotech, pharmaceutical and medical device companies. The first of three buildings is scheduled for completion in mid-2003.

"Markers" were placed by: Dr. Samuel Lynch, coordinator of the project and CEO of BioMimetic Pharmaceuticals, Inc.; Lee Limbird, Ph.D., Associate Vice-Chancellor for Research, Vanderbilt University Medical Center; and R. Stephen Porter, Pharm.D, FCP, Chairman, President, CEO, VDDI Pharmaceuticals.

"Today, the collaborative efforts of a half dozen organizations and numerous individuals becomes reality," said Dr. Lynch, "This project is the first major step in creating a middle Tennessee community dedicated to serving the needs of biotechnology, pharmaceutical and medical device companies. Our objective is that the Center will foster collaboration, sharing of resources and exchange of ideas, allowing these companies to move forward with their research and product development in a more cost and time efficient manner. Additionally, we hope to bring in companies that provide services to the medical research community, creating new business for these service companies and speeding time to market for promising new medicines."

The CSLSC, located in the Cool Springs area of Franklin (15 miles south of Nashville), will consist of three buildings totaling approximately 134,000 square feet.

Lease commitments have been made by three organizations to date. BioMimetic, a biopharmaceutical company focused on development and commercialization of protein therapeutics for tissue and organ regeneration, will occupy 8,000 square feet in the center. Vanderbilt University Medical Center will also occupy 8,000 square feet for a biotech business incubator and VDDI Pharmaceuticals, developers of products in the areas of cancer, cardiovascular disease and infectious disease will occupy 2,000 square feet initially, with the potential to add an additional 2,000 square feet. Numerous other companies are in discussions regarding leasing space.

With the creation of an estimated 600 direct and indirect jobs at build out, the CSLSC is expected to generate more than $15 million in spendable payroll. For Williamson County and the city of Franklin, that means an infusion of over $1.2 million in annual local tax revenue.

"The economic impact of this project is huge for Williamson County," said Rogers Anderson, Williamson County Executive. "This Center will help put Williamson County at the center of the state's efforts to recruit more technology-based businesses and truly make Tennessee the technology state."

The CSLSC is part of ongoing efforts by Williamson Works, to establish the county as a national leader in research and technology businesses. Plans also include a 500-acre research and technology park.

"This is only the beginning of our efforts to bring research and technology-based companies to Williamson County," said Bob Iannacone, director of the Williamson County Economic Development Council. "Our vision of establishing Williamson County as a mecca for research and technology development is one step closer to reality with today's groundbreaking."

The CSLSC is a regional initiative of BioMimetic Pharmaceuticals, Inc., Vanderbilt University Medical Center, Tennessee Biotechnology Association (TBA), Tennessee State Office of Economic & Community Development, Tennessee Technology Development Corporation, Middle Tennessee State University, Nashville Health Care Council, Tennessee Valley Authority, City of Franklin, and Williamson Works.

Construction of the first building is expected to be complete by mid-2003 with total build out expected within five years. The center was designed by The CFP Group architects. Project developer is Noblegene Development Co. of Franklin, Tenn.

For additional media materials including groundbreaking photos, please visit: www.kvbpr.com/cslsc.htm or www.cslsc.com.