Alfred Mann Institute at the Technion Established.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. entrepreneur and philanthropist Alfred E. Mann Alfred E. Mann (born 1925, Portland, OR), who is also known as Al Mann, is an American entrepreneur and philanthropist. He is a billionaire. Born and raised in Portland, his father was English and mother Polish. today signed an agreement to establish a life sciences/biomedical engineering research institute at the Technion-Israel Institute of Technology. Mann signed the agreement with the Technion and the American Technion Society (ATS) at the organization's Manhattan office. The Technion is the first university outside of the U.S. selected by Mann to be a part of his vision of establishing a total of 12 Alfred Mann Institutes (AMI's) at the world's top research centers. So far, the only other AMI can be found at the University of Southern California The U.S. News & World Report ranked USC 27th among all universities in the United States in its 2008 ranking of "America's Best Colleges", also designating it as one of the "most selective universities" for admitting 8,634 of the almost 34,000 who applied for freshman admission (USC An abbreviation for U.S. Code. ); two others are in later stage discussions. According to the agreement, Mann will provide initial funding of $4 million for the AMI's operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. over the next two years. The money is intended as a bridge to the establishment of a $100 million endowment for the institute. This is coupled with a multi-year agreement that would provide millions of dollars annually for the institute's operating budget, pending establishment of the $100 million endowment. The gift will become one of the largest ever established for an Israeli institution. Mann said the Technion's standing as a world leader in scientific research and its high academic ranking played significant roles in his decision. "The Technion's interdisciplinary nature allows for the melding of biomedicine biomedicine /bio·med·i·cine/ (bi?o-med´i-sin) clinical medicine based on the principles of the natural sciences (biology, biochemistry, etc.).biomed´ical bi·o·med·i·cine n. 1. and science with engineering and technology not possible at most universities," he said. "I'm confident this unique focus will make the institute a world leader, and a place that will help cure the diseases that plague mankind." A board of directors for the institute has already been selected. The 12-member group will be comprised of five Technion-appointed representatives; six handpicked by Mann (who will serve as chairman); and one from the ATS. The institute will operate under the direction of Dr. Zeev Gilkis, who has been an investment director of venture capital firm Comverse Investments. "The establishment of this institute is recognition of the Technion's strengths and potential for innovative and important scientific and medical advances," said Technion President, Professor Yitzhak Apeloig. "This will greatly increase our ability to translate the knowledge and research emanating from the Technion into products to meet unmet and poorly met medical needs. We believe the AMI will form the basis for the establishment of various successful companies." The agreement will give the Alfred Mann Institute unbridled access to information about Technion intellectual property in fields that fall under the institute's umbrella. The Institute - dedicated to the creation of medical device and pharmaceutical products and processes to improve human health and well-being - will also have the right to develop and commercialize that property. "Al Mann's contributions to science and medicine are well-known," said ATS Executive Vice President Melvyn H. Bloom. "We're extremely fortunate to be involved in the process of making the Alfred Mann Institute at the Technion a reality." Alfred E. Mann is Chairman of the Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. of The Alfred Mann Foundation, founded in 1985, and the Alfred Mann institute for Biomedical Engineering Biomedical engineering An interdisciplinary field in which the principles, laws, and techniques of engineering, physics, chemistry, and other physical sciences are applied to facilitate progress in medicine, biology, and other life sciences. at the University of Southern California. The foundation and the institute are nonprofit research organizations devoted to development of advanced medical products in a variety of fields. Mann is Chairman and Chief Executive Officer of MannKind Corporation and of Advanced Bionics[R] Corporation (ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. ); and Chairman of Second Sight, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , Bioness, Inc. AlleCure Corporation, Quallion, LLC, Implantable Acoustics, and Chairman Emeritus of Pacesetter[R] System, Inc., and MiniMed - all companies founded by Mann. ATS Executive Vice President Melvyn H. Bloom, Technion President Prof. Yitzhak Apeloig and Technion Prof. Zvi Kochavi, director of the Technion's Research and Development Foundation, were present at today's meeting. The Technion-Israel Institute of Technology is Israel's leading science and technology university. Home to the country's only winners of the Nobel Prize in science, it commands a worldwide reputation for its pioneering work in nanotechnology, computer science, biotechnology, water-resource management, materials engineering, aerospace and medicine. The majority of founders and managers of Israel's high-tech companies are alumni. Based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the American Technion Society is the leading American organization supporting higher education in Israel, with 17 offices around the country. |
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