Hall of Fame Induction Year
1994
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Inductee Biography
Phillip Frost CEO and Chairman of OPKO Health Frost became the CEO and chairman of OPKO Health, Inc. upon the consummation of the merger of Acuity Pharmaceuticals Inc., Froptix Corporation and eXegenics, Inc., on March 27, 2007. Frost and OPKO were charged on September 7, 2018, with participating in a "pump and dump" scheme to defraud investors. Frost is accused by the U.S. Securities and Exchange Commission of violations of multiple sections of the Securities Act of 1933 and of the Securities Exchange Act of 1934. He was named chairman of the board of Ladenburg Thalmann Financial Services, an investment banking, asset management, and securities brokerage firm, providing services through its principal operating subsidiary, Ladenburg Thalmann & Co. Inc., in July 2006; and has been a director of Ladenburg Thalmann, since March 2005. Frost also serves as chairman of the board of directors of PROLOR Biotech, Inc. (NYSE Amex: PBTH), a development stage biopharmaceutical company. He is also a director of Castle Brands (NYSE Amex:ROX), a developer and marketer of premium brand spirits, and Continucare Corporation (NYSE Amex:CNU), a provider of outpatient healthcare services. He previously served as a director for Northrop Grumman Corp., SearchMedia Holding Limited (NYSE Amex:IDI) formerly Ideation Acquisition Corp., Protalix Bio Therapeutics, Inc., and SafeStitch Medical Inc., and as governor and co-vice-chairman of the American Stock Exchange, (now NYSE Amex). According to the most recent SEC Filings, Frost's ownership in Chromadex is about 3.15%, split between individual ownership and his foundation. In 2011, Frost became the largest shareholder in Coconut Grove Bank, the oldest bank in South Florida. In January 2013, Frost began investing in MusclePharm MSLP, with an initial $1.4 Million. As of December 31, 2014, Frost increased his investment to 386,928 Shares currently worth over $3 Million. In 2014, he invested $825,000 in Drone Aviation Holding Corp. and joined their strategic advisory board. In May 2014, Frost became a director and 10% shareholder of Senesco Technologies, which changed its name to Sevion Therapeutics, in September 2014. As of December 2014, Frost serves on the board of directors and is a 10% owner of Cocrystal Pharma, Inc., which was formed from a merger of BioZone Pharmaceuticals, Inc. and Cocrystal Discovery Inc. This company has also recently released news of a merger with RFS Pharma, adding even more expertise to the company focusing on advanced antiviral development. According to SEC Filings dated April 19, 2023, Frost's ownership interest in VERU is about 6.1%. On October 16, 2003, a $33 million gift to the School of Music was announced by the University of Miami. In honor of their bequest, the largest ever given to a university-based music school in the U.S. at the time, the School of Music was officially renamed the Phillip and Patricia Frost School of Music. In 2003, the Art Museum at Florida International University was officially renamed The Patricia & Phillip Frost Art Museum. On March 26, 2011, it was announced that Frost had donated $35 million towards the construction of the new Miami Science Museum building at Bicentennial Park in Downtown Miami, named the Phillip and Patricia Frost Museum of Science. In March 2015, he donated an additional $10 million to support the development of the science museums' planetarium, the Frost Planetarium. He serves on the board of regents of the Smithsonian Institution, as a member of the board of trustees of the University of Miami, the Scripps Research Institute, the Miami Jewish Home for the Aged, chairman of the board of Temple Emanu-El in Miami Beach, Florida, and Mount Sinai Medical Center. The Frost family supports scholarships for advanced study at the University of Oxford in STEM (science, technology, engineering, and mathematics) subjects. The scholarships are open to Israeli students and students from Florida.
Digital Collection
Huizenga College of Business and Entrepreneurship Hall of Fame
Disciplines
Business
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