New contract ensures future state funding of downtown Phoenix’s TGen
[Source: Ken Alltucker, Arizona Republic] — After months of review, the Arizona Biomedical Research Commission last week signed off on a new contract that ensures continued funding of [the downtown] Phoenix-based Translational Genomics Research Institute. The commission sought the new contract with TGen to protect Arizona’s interests in the wake of TGen’s alliance with Grand Rapids, Mich.-based Van Andel Institute. Under the alliance, both TGen and Van Andel retain their locations, research staffs, and boards of directors.
TGen filed amended corporate documents last month with the Arizona Corporation Commission that reflect the change. TGen is now a member-based organization instead of director-based organization, and Van Andel’s research arm, the Van Andel Research Institute, is the sole member of TGen. TGen representatives said the new structure gives Van Andel shared control of TGen. TGen receives undisclosed funding from Van Andel.
TGen President and Research Director Jeffrey Trent also holds the same position with the Van Andel Research Institute. He splits his time between the two sites. “It was of concern to all parties that the economic engine that TGen has been should continue in Arizona,” said Dawn Schroeder, executive director of the commission. “It is a substitute contract, which puts in place safeguards for the state of Arizona.” [Note: To read the full article, visit New contract ensures future state funding of downtown Phoenix’s TGen.]
Posted on January 16, 2010, in Education, Finances, Governance, Health Care and tagged Arizona Biomedical Research Corporation, Arizona Corporation Commission, Dawn Schroeder, Downtown Phoenix, Jeffrey Trent, TGen, Van Andel Institute. Bookmark the permalink. Leave a comment.