As reported yesterday, UCLA has created a new non-profit organisation to commercialise research at the university.
University of California, Los Angeles (UCLA) has announced the board of directors for its new non-profit company, Westwood Technology Transfer. The company will aim to improve the process of identifying promising research and securing intellectual property rights for these discoveries.
The company is unprecedented within the University of California system, which abolished its policy banning direct investments in spin-outs only in June 2014, and set up a $250m fund earlier in September.
Westwood will significantly expand the efforts and powers of UCLA’s Office of Intellectual Property and Industry Sponsored Research, which already oversees a portfolio of almost 2,000 discoveries, files patents and works out licensing agreements for these inventions, and assists its researchers to obtain external funding.
Westwood follows four years of researching the commercialisation processes at other universities including Stanford University, Harvard University and the Massachusetts Institute of Technology.
UCLA selected the board of directors for the new company from some 200 candidates. They are Norman Abrams, acting UCLA chancellor emeritus, Michael Cleare, who worked at the technology transfer offices of both Columbia and Pennsylvania universities, and Shannon Hansen, division vice-president and associate general counsel at Abbott Diabetes Care as well as former associate solicitor at the US Patent and Trademark Office.
Also joining the board are Paul Hudson, consultant, lawyer and former chairman and chief executive at Broadway Federal Bank, Betsy Woody Knapp, who already serves on UCLA Foundation’s board of directors, and John Mazziotta, associate vice-chancellor at UCLA.
William Mitchell, chair of UCLA Foundation’s board, Judy Olian, dean of UCLA’s Anderson School of Management, Thomas Unterman founding partner at Rustic Canyon Partners, and Stephen Yslas, former corporate vice-president and general counsel at Northrop Grumman complete the board.
Dr James Economou, vice-chancellor for research at UCLA, said: “UCLA carries out three basic activities: teaching, research, and service to the community. Our work is not done when our scientists have completed a key experiment or have published in an academic journal. Our work is done only when we have translated our discoveries into practical benefit for society. This is central to our mission as a preeminent public research university. Decision-making will be guided by the potential of a discovery or innovation for societal good or commercialization. UCLA scholars will benefit further from this disciplined approach, where discoveries with great promise are aided by supportive mentoring and funding, and where their interests are protected.”
