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The USC Stevens Institute for Innovation Opens Shop on USC Health Sciences Campus
Date:10/19/2007

Branch Office and Expanded Team Demonstrates

USC's Increased Commitment to Research Advancements in Health Science;

Positions USC to Strengthen and Leverage

Robust Life Science Industry in Los Angeles

LOS ANGELES, Oct. 8 /PRNewswire-USNewswire/ -- In a move that demonstrates the University of Southern California's strengthened commitment to advancing breakthrough research in the biosciences, the USC Stevens Institute for Innovation announced today the opening of an office in the new Harlyne Norris Tower at USC's Health Sciences Campus (HSC). Functioning as a satellite office, USC Stevens at HSC will specifically service the HSC community of innovators through community-building events, showcase opportunities, and tech transfer activities, and will unify innovation advancement activities throughout the University.

Just a short walk from most HSC laboratories, this office will enable the growing USC Stevens HSC team to more effectively and efficiently service the faculty members and researchers in the HSC schools including the Keck School of Medicine, USC School of Pharmacy, and USC School of Dentistry. The USC Stevens HSC team includes five full-time staff, growing to nearly 10 by year's end. Additionally, USC Stevens Director of Licensing, Joe Koepnick, will split his time between the two campuses.

Noting that 42 percent of the University's licensing revenue comes from inventions and patents developed at the Keck School of Medicine at USC, Provost C.L. Max Nikias called the satellite office "a strategic development in line with the University's mission to enhance and foster innovation across all disciplines for maximum societal impact."

"By opening a USC Stevens office on the Health Sciences Campus, USC further demonstrates its intention to provide leadership in the medical and biological sciences revolution that will reshape our society in coming decades," Nikias added. "We are creating a model that will strengthen Southern California's biotech industry. Faculty and researchers at HSC now have seasoned staff available at their doorstep, ready and able to address their needs and help get their life-enhancing and life-saving inventions out to the market."

"It's a big move for the university, and clearly demonstrates a strong commitment to the growth of both the USC Health Sciences Campus and the life science industry here in Los Angeles," said Krisztina Holly, Vice Provost and Executive Director for USC Stevens. "The Los Angeles market is bursting with entrepreneurial talent and culture. As a university, we're in the right place at the right time to significantly impact the life science industry in Los Angeles, now and in the future."

According to the Southern California Biomedical Council (SoCalBio -- http://www.socalbio.org/), the Los Angeles/Orange County metro area has a 36% higher concentration of biosciences employment than other metro areas in the U.S. Most notably, the LA region is first among U.S. metropolitan areas in medical device sector employment and second in bioscience research, testing and labs. According to the PricewaterhouseCoopers MoneyTree Report, LA/Orange County is 10th in the nation for Biotechnology Venture Capital funding, the highest since 2001.

About the USC Health Sciences Campus

Located three miles from downtown Los Angeles and seven miles from the University Park campus, USC's Health Sciences campus is a major center for basic and clinical biomedical research, especially in the fields of cancer, gene therapy, the neurosciences and transplantation biology. The 61-acre campus is home to the region's first and oldest medical and pharmacy schools, as well as to acclaimed programs in occupational therapy (ranked #1 by U.S. News & World Report) and physical therapy.

In addition to Los Angeles County and USC Medical Center, which is one of the country's largest teaching hospitals, the campus includes three state-of-the-art patient care facilities: the USC/Norris Comprehensive Cancer Center, USC University Hospital, and Doheny Eye Institute. USC faculty members staff these as well as many other hospitals in Southern California, including the nationally acclaimed Childrens Hospital Los Angeles. Because of its outstanding ranking and achievements in research and health care, USC's Health Sciences campus is a focal point for students, patients and scientists from around the world.

About the USC Stevens Institute for Innovation

The USC Stevens Institute for Innovation (http://stevens.usc.edu) is a university-wide resource in the Office of the Provost at the University of Southern California designed to harness and advance the creative thinking and breakthrough research from USC for societal impact. USC Stevens identifies, nurtures, protects, and transfers to the market the most exciting innovations from USC, and in turn, provides a central connection for industry seeking cutting-edge innovations in which to invest. Furthermore, USC Stevens develops the innovator as well as innovations, through educational programs, community-building events, and showcase opportunities. From the biosciences and technology to music and cinematic arts, USC Stevens connects faculty, students, and the business community to create an environment for stimulating and inspiring the process of innovation across all disciplines. USC Stevens was established through a generous $22M naming gift from USC alumnus and trustee Mark A. Stevens, a partner at the legendary Sequoia Capital venture capital firm, and his wife, Mary.

USC Media Contacts:

Elisa Wiefel,

USC Stevens Institute for Innovation

(213) 821-6063

wiefel@usc.edu

Sally Stewart

SA Stewart Communications for USC Stevens

(310) 394-8400

sally@sastewart.com


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SOURCE University of Southern California
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