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The deal between the investor, Steve Burrill of San and the developers ofthe project, Towee Investments, could be announced this week, accordinvg to a report in the Minneapolis Star Minnesota Public Radio first reported details of the plan last Tower will put $100 million towardx the biotech-focused investment bringing the pool of capitalk available to about $1 billion. The project, dubbed Elk Run, is slatedr to cover 2,325 acres and feature spacd for research and as wellas manufacturing. Mayo Clinic also could participat e inthe venture, though the organization told the Star Tribune it has not signesd an official deal with Tower.
The state also is expectede to put stimulus funding towarxd infrastructure needed to construct the ElkRun project. Woodland, Calif.-basedc Tower Investments , which it declined to for the biotechnology center portion ofthe development. Burrilk is CEO of Burrill & Co., a merchant bank focused on the He is well knowbin biotech, having directed Ernst Young’s life sciences practice for 28 During that time, that business swelled to a $2.5 billionh a year practice for the The Triangle Business Journal, a sister publicatiob to the Business Journal, profilee Burrill in 2004.
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