University of Virginia Library

CONFLICT OF INTEREST EXEMPTION

The following resolution was adopted:

• WHEREAS, the School of Medicine wishes to enter into a sponsored research contract with E-SITE THERAPEUTICS, INC., a Delaware corporation, for investigation and research into the use of antibodies in the diagnosis, imaging, prevention, treatment and monitoring of cancer; and
• WHEREAS, as noted, Dr.Taylor has a conflicting equity interest exceeding 3% in E-SITE THERAPEUTICS, INC. which has been disclosed to the University as provided by '2.1-639.6 (C)(7) of the Code of Virginia and as required by University policy; and neither Dr. Taylor nor Dr. Chung is involved in the Universitys negotiation, approval, or procurement of the sponsored research contract, nor are their spouses;
• RESOLVED that the exemption under '2.1-639.6 (C)(7) of the Code of Virginia is approved by the Board of Visitors in order to permit the University to contract with E-Site and secure funding of ongoing cancer research provided the annual disclosure statement of economic interests is filed by Dr. Taylor as required by law, the University files its required annual report with the Secretary of the Commonwealth reporting the contract and responsible managers overseeing its administration, and the chairs of both departments vigilantly oversee and monitor the utilization of University resources in implementation of any contract with E-SITE THERAPEUTICS, INC and report to the dean on at least a quarterly basis.
• RESOLVED FURTHER that the exemption for dual University employment of the spouses of Drs. Taylor and Chung, under '2.1-639.6(C)(2) of the Code of Virginia, is approved in order to maintain ongoing cancer research which appears to be in the public interest and to retain competent scientists familiar with the subject matter, with the understanding and on the condition that neither Dr. Chung nor Dr. Taylor evaluate, supervise or otherwise make personnel decisions concerning their spouses and that these actions will be taken independently by the chairs of their departments in strict accordance with applicable University personnel policies.