 | Board of Visitors minutes February 25, 2000 |  |
CONFLICT OF INTEREST EXEMPTION (Upstate Biotechnology, Inc.)
The following resolution was adopted:
WHEREAS, the School of Medicine wishes to enter into a sponsored research contract with Upstate Biotechnology Inc., a New York Corporation, for funding research in and commercialization of innovative and hard to find bioreagents; and
WHEREAS, David Allis, Ph.D., receives annual income in excess of $10,000 from Upstate Biotechnology Inc., and the University's entry into a research agreement with Upstate Biotechnology, Inc., would thereby expose him to violation of the Conflicts of Interest Act unless the conflict is approved by the Board as permitted by Section 2.1-639.6 (c) (7) of the Code of Virginia;
RESOLVED that the conflict is approved by the Board of Visitors in order to permit the University to negotiate and enter into a proposed contract for the development of immunological reagents directed at the chemical modifications of histone proteins; provided, as required by the law, the faculty file the required annual disclosure statement of personal income from Upstate Biotechnology Inc., the University files the required annual report concerning the contract with the Secretary of the Commonwealth, and the department chair vigilantly oversees application of University resources and personnel engaged in the transaction so as to ensure the continuing best interests of the University and compliance with University policy.
| Board of Visitors minutes February 25, 2000 | |