University College Dublin and Elan Corporation plc have announced an initiative designed to create a leadership position in the global biotechnology industry.

The initiative includes a €3m Grant to Combine Business & Science Disciplines at UCD to Support Skills Development in Biotechnology Sector.

The partnership will run for at least seven years and will include two new post-doctoral 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.

“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.

“Elan’s commitment will enable us to fuse the best thinking and skills within the University, which includes our science, business and medical schools. We expect the creation of Europe’s first interdisciplinary chair in the ‘Business of Biotechnology’ to stimulate innovation right across campus.”

Kelly Martin, chief executive officer, Elan Corporation said “Rapid advancements in biology, computational application and diagnostics combined with the globalization of the biotechnology industry require future business leaders to have the skills and expertise to manage a portfolio of assets within the environment of a dynamic and ever changing risks/reward equation. Future industry and company success will be defined by those with the ability to make good decisions within this integrated space”.

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