R.I. Senate panel advances appointment of inaugural Life Science Hub CEO • Rhode Island Current

Almost a year after its inaugural meeting, the Rhode Island Life Science Hub has nearly cemented its hire of a full-time president and CEO, receiving the rubber stamp of the Rhode Island Senate Committee on Finance in a hearing Thursday.

The committee’s unanimous vote advances the appointment of Dr. Mark Turco to the full R.I. Senate, which has scheduled the final confirmation vote for Jan. 21, Greg Paré, a Senate spokesperson said in an email.

Finding a full-time president to lead the nascent life science agency and complement the work of its 15-member, volunteer board of directors, has been a priority since the board’s first meeting in January 2024. But finding that person took longer than expected, with the board finalizing a three-year contract with Turco in December. 

The extra time ended up benefiting the search, said Neil Steinberg, chairman of the agency’s board of directors.

“One of the things we found is that, as we got delayed, the more qualified candidates we had because people knew what we’re about,” Steinberg said in remarks to lawmakers Thursday. 

Turco’s confirmation by the Senate — required under the state budget article that created the agency — is the “seminal event” for the Life Science Hub, Steinberg said.

“We got a very smart person to head this and we’re excited about that,” Steinberg said. “He had the most breadth of experience to bring to the table. And, his wife was from Pawtucket.”

Turco, a Philadelphia native who relocated to Rhode Island 12 years ago, highlighted his 25 years of experience in the medical and research industry, starting as a cardiologist, with stints in academia, research and as CEO of two startup businesses. He was plucked from a pool of more than 300 candidates through a nationwide search, led by a professional consulting firm enlisted by the Hub board.

“We are here so we can impact lives,” Turco said. “We can improve health and well being in Rhode Island and beyond. We can also create jobs and grow our economy.”

Establishing Rhode Island as a hub for medical and scientific research and entrepreneurship, similar to Cambridge and Worcester in Massachusetts, has been a top priority for lawmakers and industry leaders. While the Ocean State doesn’t have the name recognition in life sciences that its Commonwealth counterpart enjoys, Turco insisted the foundational pieces — a skilled workforce, academic and health care institutions, and a spirit of innovation — were already in place.

“Rather than the state being a series of silos, we hope to be the conveners,” Turco said. “Innovation is a team sport and that’s how we will succeed in our efforts.”

Lawmakers peppered Turco with questions during the 45-minute hearing, seeking clarity on his short and long-term goals for the agency, and spending plans. The state’s fiscal 2024 budget allotted $45 million to the agency, part of which will cover Turco’s $400,000 annual salary.

“We’re spending taxpayer dollars here,” Sen. Lou DiPalma, Senate Finance chairman and a Middletown Democrat said. “We will need to see ‘Here’s the why.’”

Turco also pledged to seek additional funding, including establishing a venture fund to accept private investments and an incorporated 501(c)(3). But he will also be making an ask of lawmakers in the state budget that starts July 1, though he did not say how much.

Steinberg highlighted the accomplishments the agency has achieved so far. Chief among them: Inking agreements with project partners to open a first-of-its-kind state wet lab incubator space within the new state public health laboratory in the I-195 Redevelopment District. The $16 million, 30,000-square-foot incubator space is expected to open in December 2025.

If approved by the full Senate, Turco will serve a three-year term as Hub CEO, expiring Jan. 15, 2028.