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CONFLICT OF INTEREST EXEMPTION - CARDIORESEARCH

The following resolution was adopted:

WHEREAS, the School of Engineering and Applied Science wishes to pursue basic research in the area of blood plasma protein concentrations during hemodialysis, which may aid efforts to develop methods for monitoring hemodynamics, of patients undergoing dialysis; and

WHEREAS, a portion of this research may be done in collaboration with CardioResearch Inc., a small business which has received funding from the National Institutes of Health under the SBIR program; and

WHEREAS, a University faculty member, Jen Shih Lee, has ownership interests in CardioResearch; and

WHEREAS, an agreement with CardioResearch may be entered under the exemption to the Virginia Conflict of Interests Act as provided in Section 2.1-639.6(C)(7) of the Code of Virginia, with approval by the Board of Visitors;

RESOLVED that the exemption under Section 2.1- 639.6(C)(7) of the Code of Virginia for the proposed agreement between the University and CardioResearch is approved, provided the annual disclosure statement of economic interests is filed by Jen Shih Lee 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 Dean of the School of Engineering and Applied Science vigilantly oversees and monitors the utilization of University resources in implementation of any contract with CardioResearch.