In a move that demonstrates the University of Southern California's strengthened commitment to advancing breakthrough research in the biosciences, the USC Stevens Institute for Innovation announced today the opening of an office in the new Harlyne Norris Tower at USC's Health Sciences Campus (HSC). Functioning as a satellite office, USC Stevens at HSC will specifically service the HSC community of innovators through community-building events, showcase opportunities, and tech transfer activities, and will unify innovation advancement activities throughout the University. Just a short walk from most HSC laboratories, this office will enable the growing USC Stevens HSC team to more effectively and efficiently service the faculty members and researchers in the HSC schools including the Keck School of Medicine, USC School of Pharmacy, and USC School of Dentistry. The USC Stevens HSC team includes five full-time staff, growing to nearly 10 by year's end. Additionally, USC Stevens Director of Licensing, Joe Koepnick, will split his time between the two campuses.
Noting that 42 percent of the University's licensing revenue comes from inventions and patents developed at the Keck School of Medicine at USC, Provost C.L. Max Nikias called the satellite office "a strategic development in line with the University's mission to enhance and foster innovation across all disciplines for maximum societal impact."
"By opening a USC Stevens office on the Health Sciences Campus, USC further demonstrates its intention to provide leadership in the medical and biological sciences revolution that will reshape our society in coming decades," Nikias added. "We are creating a model that will strengthen Southern California's biotech industry. Faculty and researchers at HSC now have seasoned staff available at their doorstep, ready and able to address their needs and help get their life-enhancing and life-saving inventions out to the market."
"It's a big move for the university, and clearly demonstrates a strong commitment to the growth of both the USC Health Sciences Campus and the life science industry here in Los Angeles," said Krisztina Holly, Vice Provost and Executive Director for USC Stevens. "The Los Angeles market is bursting with entrepreneurial talent and culture. As a university, we're in the right place at the right time to significantly impact the life science industry in Los Angeles, now and in the future."
According to the Southern California Biomedical Council (SoCalBio), the Los Angeles/Orange County metro area has a 36% higher concentration of biosciences employment than other metro areas in the U.S. Most notably, the LA region is first among U.S. metropolitan areas in medical device sector employment and second in bioscience research, testing and labs. According to the PricewaterhouseCoopers MoneyTree Report, LA/Orange County is 10th in the nation for Biotechnology Venture Capital funding, the highest since 2001.