Frost invests in drone maker

09/02/2014 5:55 PM

09/03/2014 11:09 AM

Healthcare serial entrepreneur Phillip Frost is leading an $825,000 investment in Drone Aviation Holding Corp., a Jacksonville-based drone development company. The chairman and CEO of Miami-based Opko Health, a specialty pharmaceutical and biotech company, will also lead Drone Aviation’s board.

“Dr. Frost has a distinguished entrepreneurial track record of success throughout the business community as well as the public marketplace and we are honored to have him chair our Strategic Advisory Board and as an investor in our company," said Felicia Hess, CEO of Drone Aviation Holding.

Drone Aviation Holding provides critical aerial and land based surveillance and communications solutions to government and commercial customers. Utilizing a tethering capability, Drone systems operate in the National Airspace within FAA guidelines for safe operations, the company said.

Dr. Frost also serves as chairman of the board of TEVA Pharmaceuticals, Ladenburg Thalmann Financial Services and Prolor Biotech and is also a director of Castle Brands. Previously, he served as a director for the global defense giant Northrop Grumman Corp.

Nancy Dahlberg

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