VGTI Florida Provides Update on Wind-Down Process 顺风车要涨价

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  VGTI Florida Provides Update on Wind-Down Process

  The Vaccine & Gene Therapy Institute of Florida (VGTI Florida) today

  provided an update on the orderly wind-down of its operations, including

  plans to turn over remaining assets to its two creditors, the City of

  Port St. Lucie (PSL) and the State of Florida. VGTI Florida also

  reported that it has fully completed the shut down and decommissioning

  process with all labs and equipment professionally sanitized. This

  effort was coordinated with the appropriate regulatory agencies to

  ensure a safe and secure facility. Additionally, the 100,000 sq.ft.

  biomedical research building’s overall safety was audited by a

  third-party, independent biosafety consulting firm.

  Despite ongoing litigation with the City of Port St. Lucie (PSL), VGTI

  Florida has been cooperating with PSL’s staff and representatives in

  sharing the details of its wind-down plan. These communications have

  been voluntary and have been occurring outside of the formal legal

  discovery process. PSL’s staff and representatives have toured VGTI

  Florida on multiple occasions in recent weeks and have been granted full

  access to the entire facility to inspect contents and confirm safety.

  Despite VGTI Florida’s offer to transfer ownership of the facility to

  PSL by October 1, 2015, City Hall is not yet prepared to take title. The

  parties are in the process of negotiating the terms of an agreed court

  order appointing a receiver over the building to manage and protect it

  until PSL finalizes its plans for the building. In the interim, VGTI

  Florida has retained the company, WorkingBuildings, a leading,

  international, quality assurance consulting firm with extensive

  expertise in laboratory management and operations. WorkingBuildings will

  continue to maintain the VGTI Florida facility and all equipment until

  the building is turned over to the receiver.

  Most of the equipment at VGTI Florida was purchased with grant funding

  from the State of Florida. VGTI Florida has been cooperating with State

  officials to ensure a proper transfer of those assets back to the

  Department of Economic Opportunity (DEO) and other relevant State


  All of VGTI Florida’s remaining Port St. Lucie employees will be laid

  off by the end of today. Institute founder, Jay Nelson, Ph.D., will

  serve as Chairman, President and CEO until the legal entity is dissolved.

  While VGTI Florida’s closure is greatly disappointing, the Institute

  offers its heartfelt gratitude and thanks to the State of Florida, our

  local legislative delegation and to the residents of Port St. Lucie and

  surrounding Treasure Coast communities. In a continued spirit of

  partnership, VGTI Florida has been assisting the St. Lucie Economic

  Development Council (EDC) and Enterprise Florida in their efforts to

  market the facility to potential buyers and/or tenants. VGTI Florida

  remains committed to maximizing the value of its remaining assets for

  the benefit of the State of Florida and City of Port St. Lucie.

  About VGTI Florida:

  The Vaccine & Gene Therapy Institute of Florida (VGTI Florida) is an

  independent, 501(c)(3), non-profit, biomedical research institute

  established in 2008. For more information, please visit:


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  VGTI Florida

  Douglas W. Calder, 772-345-5637

  [email protected]

  Copyright Business Wire 2015Business WireOctober 1, 2015 - 1:45 PM EDTNews by