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Business

UC Creates Venture Fund

by Lisa M. Jarvis
September 22, 2014 | A version of this story appeared in Volume 92, Issue 38

The University of California system is establishing a venture fund to support projects developed by researchers from its network of campuses, medical centers, and affiliated national laboratories. The university’s investment office will initially put $250 million into UC Ventures, which is expected to launch in 2015. The move goes beyond the traditional technology transfer approach taken by most academic institutions seeking to commercialize internal discoveries. In announcing the move, UC cited the recent successes of UC biotech start-ups Kite Pharma, which went public, and Aragon, which was acquired by Johnson & Johnson.

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