UCLA Launches New Company to Commercialize Patents and Inventions

UCLA announced the Board of Directors for a new company: Westwood Technology Transfer (WTT), a not-for-profit focused on better protecting and optimizing the discoveries and inventions developed through campus research that attracts about $1 billion in funding each year.

Unprecedented within the University of California, establishing the 501(c)(3) company extends the efforts of UCLA’s Office of Intellectual Property and Industry Sponsored Research (OIP-ISR), which manages a portfolio of nearly 2,000 inventions, pursues patents and licensing agreements, helps faculty obtain research funding and materials through external collaborations, and assists UCLA faculty startups. After a rigorous selection process that considered more than 200 candidates, UCLA Chancellor Gene D. Block selected a Board composed of experienced executives from a range of industries, including biopharmaceuticals, engineering and technology; finance, private equity, and venture capital, as well as distinguished UCLA faculty.

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