North Carolina biotech entrepreneur Adnan Mjalli at Oasis Investment Group will develop a $425 million research park on 80 acres of newly annexed land in High Point. This development represents a new model of clinical research, where a confluence of infrastructure, employment center, and life science (including clinical trials)-focused investment come together for a powerful contribution to local, regional and national entities. Mjalli owns High Point Clinical Trials Center—a clinical investigational site.
Oasis Pharma Center
It is projected that the Oasis Pharma Center will provide 1.2 million in square feet of office, research, and development space; 14,000 square feet worth of shops; on-site daycare; an 18-unit triplex of executive suites; and a 140-unit apartment building inside the park. It will be located at 737 Gallimore Dairy Road, High Point, NC.
Major R&D Center
The new complex is projected to drive up to 1,600 jobs—a conservative effort, according to the developer—with an average salary of $80,000 per year. The payroll over seven years will total over $1 billion.
R&D, Scientists & Investigators
The center will cater to specialized roles in life sciences, from pharmaceutical engineers and doctors to professors and clinical investigators. Mjalli notes, “So I imagine our companies here will relocate. Other companies will come and start.”
Mjalli first came of North Carolina back in 1999 to launch TransTech Pharma. Over time, his businesses mostly centered on drug development, operating in a 10,000 square foot business park—these companies include vTv Therapeutics (VTVT) and the former PharmaCore—now part of Cambrex Corp (CBM). His main ventures include High Point Clinical Trials and a recently acquired asset called Bien Etre, which focuses on microbe benefits for human health.
Research Park Too Congested
Years ago, he considered Research Park as the hub for his investments but found it too congested. Two decades ago, he and his investors envisioned a local “corridor of medical research” that ultimately looked a lot like what High Point NC has to offer—and the rest is history. High Point, NC, is about 80 miles east from Research Triangle.Source: highpointnc.gov