 | Board of Visitors minutes January 23, 1998 |  |
DELEGATION OF AUTHORITY TO SELL THE ASSETS OF THE NEUROCLINICAL TRIALS CENTER
The following resolution was adopted:
- WHEREAS, The Neuroclinical Trials Center, a division of the Virginia Neurological Institute, manages clinical trials on neurological drug therapies for pharmaceutical companies; and
- WHEREAS, the managing of clinical trials is not central to the mission of the University Health Sciences Center; and
- WHEREAS, the University is negotiating with potential purchasers of the assets of the division, who will then operate the business as a private, for-profit enterprise;
- RESOLVED that, with the review and approval of a subcommittee of the Board convened by the Rector, and in consultation with the General Counsel, the Executive Vice President and Chief Financial Officer is authorized to enter into a sale of the assets of the Neuroclinical Trials Center; provided, any such transaction shall be reported to the Board of Visitors at its next regular meeting;
- RESOLVED FURTHER, the foregoing shall expire on June 30, 1998, unless extended by the Board of Visitors.
| Board of Visitors minutes January 23, 1998 | |