MANN AT IT AGAIN; MINIMED FOUNDER CONSIDERS NEW $100 MILLION GIFT, IPO.Byline: Chris Sieroty and Jason Z. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. Staff Writers MiniMed Inc. founder Alfred Mann, who already has pledged $200 million to establish bioengineering institutes at two Southern California universities, is discussing similar arrangements with Johns Hopkins University Johns Hopkins University, mainly at Baltimore, Md. Johns Hopkins in 1867 had a group of his associates incorporated as the trustees of a university and a hospital, endowing each with $3.5 million. Daniel C. , Harvard University and the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, , the renowned scientist told the Daily News on Thursday. Mann also said he probably will take another of his biotech companies public next year, although a specific timetable hasn't been established. Mann, who in February 1998 gave $100 million each to UCLA UCLA University of California at Los Angeles UCLA University Center for Learning Assistance (Illinois State University) UCLA University of Carrollton, TX and Lower Addison, TX and 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 , now says he expects to make a $100 million donation to Johns Hopkins in Baltimore. ``I've had talks with Johns Hopkins, and the institute will probably happen,'' said Mann, who wouldn't predict when a final decision on the facility would be made. Although he has had several discussions with officials at Harvard and MIT MIT - Massachusetts Institute of Technology , ``the talks are in the early stages and any donation would fund a joint project,'' Mann told the Daily News. Mann's relationship with Johns Hopkins dates back to the 1950s, when he worked in the space division of its Applied Physics Laboratories, designing solar electric generating systems. About 20 years ago, Mann donated several million dollars to the university for laboratories used in joint projects with the Johns Hopkins Hospital
``The whole concept was to do good, basic research,'' said Mann, who spoke with the Daily News a few hours after speaking at a Town Hall Los Angeles Town Hall Los Angeles is a non-profit speaker's forum based in Los Angeles. It was founded in 1937. It has hosted over 3500 unpaid speakers, including
Dennis O'Shea, a spokesman with Johns Hopkins University, said if Mann makes the nine-figure donation he will eclipse the $95 million given to the school by Bloomberg News founder Michael Bloomberg, a 1964 graduate of the university. Bloomberg's donations were made three years apart, in 1995 and 1998. ``We've had conversations with him,'' said Robert Lindgren, vice president for development and alumni relations at Johns Hopkins University, ``because we are interested in what he is doing at USC An abbreviation for U.S. Code. and UCLA.'' Mann's donations to USC and the University of California, Los Angeles UCLA comprises the College of Letters and Science (the primary undergraduate college), seven professional schools, and five professional Health Science schools. Since 2001, UCLA has enrolled over 33,000 total students, and that number is steadily rising. , were among the biggest single grants the universities have received. Mann has been aggressive in promoting biotech research in recent years. In addition to the USC and UCLA donations, MiniMed is in the process of moving its corporate headquarters to the north campus of California State University, Northridge CSUN offers a variety of programs leading to bachelor's degrees in 61 fields and master's degrees in 42 fields. The university has over 150,000 alumni. It's also home to a summer musical theater/theater program known as TADW (TeenAge Drama Workshop) that leads teenagers through an , where the biotech giant expects to help train future biotech workers. ``We will have some interaction with the university,'' Mann said. ``We will provide internships for students, and they will have access to our telecommunications center, but it will not be the same'' as the institutes at other universities. The founder of seven electronics and biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. firms, Mann has said he wants to turn some of the billions of dollars in revenue from the biotech industry into the next century's biotech discoveries. ``I've been very successful in my career, and I want to give back,'' he said. ``This is a way I can be more effective.'' Kurt Kruger, who follows MiniMed as an analyst for Banc of America Securites, applauded its leader's altruism. ``His giving, divided by his net worth, is probably higher than that of other people such as Bill Gates,'' Kruger said. ``At his very core, he wants to help people and patients' suffering through the means he knows best, which is technology. ``Whether it plays back to MiniMed I think really doesn't matter,'' said Kruger. ``The companies he's founded are great companies, and they will benefit as the technology is absorbed.'' MiniMed specializes in diabetes-control devices, including an insulin infusion pump that eliminates the need for repeated daily injections of the glucose-regulating drug. Advanced Bionics is the nation's only maker of cochlear implants, popularly called bionic A machine that is patterned after principles found in humans or nature; for example, robots. It also refers to artificial devices implanted into humans replacing or extending normal human functions. See biomimicry. ears. The $10,000 devices let a high percentage of profoundly deaf children and adults hear by electrically stimulating nerve cells in the inner ear. ``We have no specific plans yet, but we will probably take Advanced Bionics Corp. public next year,'' Mann said. MiniMed shares closed up $1.125 to $82.125 Thursday. Shares of the company have risen a split-adjusted 228 percent since November. WHO IS ALFRED MANN? AGE: 73 BIRTHPLACE: Portland, Ore. RESIDENCE: Beverly Hills EDUCATION: Bachelor's and master's degrees in physics from UCLA CAREER: Founder of seven electronics and biomedical companies, including Sylmar's MiniMed Inc.; leader in the Southern California Biomedical Council; donating $100 million to both UCLA and USC for the creation of biotech research centers. CAPTION(S): photo, box Photo: (color) MANN Box: Who is Alfred Mann? (see text) |
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