SCIENCE AND TECHNOLOGY CAMPUS PLAN PRESENTED TO TRUSTEES
Ohio State University officials say development of a Science and Technology Campus at the university would enhance students academic experiences, foster high-profile faculty research and attract more top scholars to the university, and provide economic development opportunities for the city of Columbus.
The universitys Board of Trustees heard a proposal November 7 for development of the Science and Technology Campus (STC) in the southwest portion of Ohio States Columbus campus. The plan was developed by the not-for-profit Research Park Corp., which is governed by a Board of Directors composed of representatives from business, the community and the university.
Under the proposal, the university would lease three land parcels and three buildings to the Research Park Corp. for 40 years as part of the development plan. The Research Park Corp. is expected to manage development and marketing of these properties under a plan that must be approved by the Board of Trustees.
Supporters of the plan estimate that companies residing in the development will create at least 460 new, mostly high-salary jobs and produce 250 cooperative research relationships between the university and STC tenants within 12 years.
Trustees are scheduled to vote on the plan in December.#
Contact: David Allen, director of the Office of Technology Transfer, (614) 688-5744
NEW CENTER ESTABLISHED TO CONDUCT CLINICAL TRIALS OF NEW DRUGS
The Ohio State University Board of Trustees agreed November 7 to help establish a new research company that would conduct clinical trials on new drugs for the pharmaceutical industry.
The new organization, the Clinical Trial Management and Coordinating Center, would be an independent, nonprofit corporation which would contract with pharmaceutical firms to conduct clinical trials.
Before any drug can be approved for use with patients, the federal Food and Drug Administration requires manufacturers to test the drug on humans. These tests, known as phase 1, 2 or 3 clinical trials, gauge a new drugs safety and efficacy and compare it with other drugs now in use for specific diseases.
The new CTMCC would contract with Ohio State for the use of university facilities, researchers and physicians to conduct these trials. It also would contract with physicians at other institutions and in private practice in the United States and throughout the world, as well.
Trustees agreed to loan the CTMCC up to $2.5 million to help establish the new program. The loan would be repaid with interest by the year 2001 and once the loan is paid back, the university would share in the excess funds generated by the center.
The corporation would have nine directors, four of whom would be nominated by the university to represent Ohio States interests in this new venture.
University officials said that participation with the CTMCC meshed well with the mission of the university, the Ohio State University Medical Center and the James Cancer Hospital.
This Medical Center initiative represents a positive step toward enhancing our research agenda and increasing funding for research conducted here, said Manuel Tzagournis, vice president for health sciences.#
Contact: Thomas Baxter, interim CEO, CTMCC, (614) 293-2585; Baxterfirstname.lastname@example.org
Return to the current month abstract page