The Vaccine & Gene Therapy Institute of Florida (VGTI Florida) is shutting down.
As a result, the non profit biomedical institute’s 34 remaining employees will be laid off over the next 6-weeks with all operations scheduled to completely cease by October 1.
In a statement from VGTI Florida’s board of directors, the failing was attributed to the lack of a university affiliation, National Institutes of Health (NIH) budget cuts, and the large debt burden associated with the construction of its 100,000 sq ft state-of-the-art facility at the Tradition Center for Innovation in Port St. Lucie.
