UCD and Elan Lead Biotechnology Initiative

University College Dublin (UCD) and Elan Corporation plc have embarked on an initiative to create a leadership position in the global biotechnology industry. The cornerstone of this effort will be the establishment of Europe’s first interdisciplinary Chair in the ‘Business of Biotechnology’ which will sit at the intersection of the UCD Smurfit
Graduate School of Business and the UCD College of Science. This integrated discipline will combine the study and application of rigorous business management with the sciences and the accelerating advancement of biology, computational applications and diagnostics. The UCD Elan initiative is expected to run for at least seven years and
will include, in addition to the newly established Chair, two new postdoctoral scholarships as well as an annual lecture series that highlights management leadership in the dynamic and ever changing world of biotechnology, on a global basis. In addition, Elan will contribute to UCD's new Science Centre that is nearing completion. The total Elan
contribution is expected to be in excess of €3 million.

"With Elan's broad and significant support, we hope to be a leader and substantial contributor to the development of the biotechnology sector on a global basis. From a UCD perspective, our goal is to help create leading edge approaches to the management of, and participation in, the "science process" which is the fundamental foundation to long-term success of the biotechnology sector," said Hugh Brady, President of UCD.

"We are delighted to have the opportunity to work closely with the leadership and faculty of one of Europe's leading universities on this ground breaking initiative," said Kelly Martin, CEO, Elan Corporation. "Our goal is to make tactical and strategic decisions that are consciously more integrated and analytically deeper than any of our global competitors. By doing so, we will create a competitive advantage that will ultimately drive benefit to patients,
employees, shareholders and partners."

"We, as a company, are committed to being leaders in the ‘how to’ manage within the biotechnology industry perspective and are delighted in this instance to share both financial support and experience with UCD," concluded Mr Martin.