ST. LOUIS – St. Louis natives Paula and Rodger Riney have gifted $7.5 million to BioSTL. The non-profit intends to translate the Rineys’ generosity into new companies, new cures, and new jobs for the St. Louis region.
This is the Riney family’s first contribution to BioSTL. Rodger Riney is the founder of the discount brokerage firm Scottrade, which he sold in 2017 to TD Ameritrade. After his multiple myeloma diagnosis in 2015, Rodger began advocating for breakthrough medical research and treatments.
“St. Louis researchers are on the vanguard of discovering and commercializing lifesaving treatments and cures, and Paula and I are delighted to support the work of BioSTL in this endeavor,” Riney said. “We are confident that this organization will use our gift to advance and benefit the St. Louis region.”
“We are deeply grateful for Paula and Rodger’s generous contribution to BioSTL, which will help propel the pace of discovery and new company creation” said Donn Rubin, BioSTL President & CEO. “Rodger understands firsthand the barriers faced in growing successful companies and values the expertise and track record of effectiveness that BioSTL has developed over the past 18 years in building companies and the St. Louis innovation ecosystem.”
To date, BioGenerator, the investment arm of BioSTL, has invested $25 million into 81 St. Louis startups that have gone on to raise $900 million in follow-on capital. More than 225 entrepreneurs work in its free BioGenerator Labs. GlobalSTL, the international arm of BioSTL, has recruited 18 overseas companies to establish their U.S. presence in St. Louis. And, BioSTL’s STEM Entrepreneur Inclusion Initiative has trained 337 women and minority entrepreneurs and future company founders.
The Rineys’ gift will bolster BioSTL’s efforts in creating and investing in new companies, developing entrepreneurs and a more inclusive and equitable startup ecosystem, attracting innovative companies and talent to St. Louis, and fueling job growth.
This gift was made possible by the Paula and Rodger Riney Charitable Fund through the St. Louis Community Foundation.