Scripps Florida spinoff raises $55 million in venture capital


    In a coup for a Palm Beach County biotech hub that has struggled to sprout for-profit spinoffs, a company created at Scripps Florida raised $55.3 million from a group of high-profile venture capitalists.

    The startup, Expansion Therapeutics Inc., said Wednesday that it brought in money from big-name backers, including 5AM Ventures, Kleiner Perkins Caufield & Byers, Novartis Venture Fund, Sanofi Ventures and Alexandria Venture Investments.