Sale of Royalty Interest Will Benefit UCLA Research, Student Scholarships
Chancellor Block shares with the campus community how UCLA’s entrepreneurial research environment provides great benefits to society and the university.
I am pleased to let you know that UCLA has completed the sale of its royalty interest in a medication for prostate cancer that was developed based on campus research. The transaction creates a revenue stream that will be reinvested in additional research and will support scholarships and fellowships for UCLA students.
Additional details about the transaction can be found on UCLA Newsroom.
We all should be proud of the campus researchers who collaborated across academic disciplines on this truly meaningful work. Also deserving of recognition is Westwood Technology Transfer, which helps oversee our Office of Intellectual Property and Industry Sponsored Research and works to optimize the benefits we receive from campus inventions and research discoveries.
This transaction is a good example of our entrepreneurial research ecosystem working as it was intended—creating discoveries that benefit society while generating resources to support additional groundbreaking research.
Gene D. Block
March 4, 2016