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Elk Run Developers Announce Partnership with Leading Life Sciences Firm
Date:3/12/2009

Tower Investments, LLC, and Burrill & Company Collaborating on Strategic Next Steps for BioBusiness Development

PINE ISLAND, Minn., March 12 /PRNewswire/ -- Developer Tower Investments, LLC ("Tower"), and San Francisco-based life sciences firm Burrill & Company ("Burrill") today announced a formal partnership with aims of advancing plans for the Elk Run master planned development and funding related to the "shovel-ready" BioBusiness Park at Elk Run.

Tower and Burrill have partnered to support the 2,325-acre (941 hectare) development in Pine Island, Minnesota. The team is also addressing--in addition to the real estate project--a private equity/venture capital fund to support development of new technologies emanating from Mayo Clinic, the University of Minnesota and private entities, and to attract biotech/biomedical business to the state of Minnesota and Elk Run.

"Working with a world-class firm like Burrill brings to Elk Run capital, experience, innovation and opportunity that will be transformative for the region," said Tower founder and CEO, Stephen Marks, Sr.

Burrill, led by founder and CEO G. Steven Burrill, brings to the table an exclusive focus and expertise in the life sciences, with activities in private equity, venture capital, merchant banking and media and nearly $1B under management.

"Elk Run is geographically and strategically positioned in a uniquely propitious way," said Burrill. "The opportunity to work with Tower on this enterprise is exciting for us especially considering Elk Run's proximity to Rochester, home of Mayo Clinic, and its incredible potential to create and attract bioscience companies to the State.

"We recognize that, at a time of economic dislocation around the world, investing in innovative life science companies and attracting these companies to the region will create jobs and ultimately improve patient
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SOURCE Burrill & Company; Tower Investments, LLC
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