UCLA Receives $2.2 Million to Support Technology Transfer

Funding will accelerate UCLA’s missions of translating research into societal benefit.

 

UCLA has received a $2.2 million boost in state funding that will help advance its innovation and entrepreneurship efforts.

The financial support comes from a $22 million investment in the University of California from Assembly Bill 2664, the Innovation and Entrepreneurship Expansion. It has been divided equally among the UC’s 10 campuses.

“This funding will truly accelerate UCLA’s fulfilling of one of its key missions: the translation of fundamental research to benefit society,” said Ann Karagozian, UCLA’s interim vice chancellor for research. “These funds will have a powerful impact on optimizing discoveries and inventions developed through our world-class UCLA research.”

Specifically, UCLA will direct much of its share toward helping turn grant-funded research into market-ready technology by demonstrating that ideas work as proofs of concept.

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Pfizer to pay $14 billion for Medivation, whose drug Xtandi was discovered by UCLA

Through the deal, Pfizer gains a drug that has generated about $2.2 billion in net sales worldwide over the last year.

Pharmaceutical giant Pfizer Inc. is paying $14 billion to buy Medivation Inc., a San Francisco biotech company that sells a high-priced prostate cancer medication discovered by UCLA.

A year’s worth of the drug, Xtandi, sells for about $129,000, and the medicine has generated about $2.2 billion in net sales worldwide over the last year, the companies said Monday in announcing the deal…

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