DUBLIN–(BUSINESS WIRE)–University College Dublin (UCD) and Elan Corporation plc, (NYSE: ELN) today
announced two scholarships and an annual lecture series at University
College Dublin (UCD) in the ‘Business of Biotechnology’ named in honour
of Kieran McGowan, former head of the Industrial Development Authority
of Ireland (IDA), Kyran McLaughlin, deputy chairman of Davy Stockbrokers
and Laurence Crowley, the well-known accountant and board member of many
Irish companies and organisations.

“Normally donations of this size
are for bricks and mortar but Elan’s investment in brainpower
demonstrates the company’s commitment to Ireland at this juncture. It
will have a profound impact on UCD’s future and on the expansion of our
unique science and business offering”

The UCD McGowan and McLaughlin post-doctoral scholarships and the
Laurence Crowley ‘Business of Biotechnology’ lecture series are part of
Elan’s €3.17 million donation to the university to build capacity at the
interface between business and science disciplines.

The donation will also establish a new Elan Chair in the ‘Business of
Biotechnology’ to provide academic leadership in this strategically
important area. The new professor will be a joint appointment between
UCD Business School and UCD College of Science. The appointee will be
charged with bolstering the science/technology content of the Business
School curriculum and enhancing the business and innovation content of
the science curriculum. They will also develop specialised masters
programmes and other graduate courses in the business of biotechnology.

“As an Irish-based neuroscience biotechnology company that operates on a
global scale, we understand the opportunities and challenges of this
business more than most and are delighted in this instance to be in a
position to share both financial support and experience with UCD to help
create the next generation of biotech leaders out of Ireland,” said
Kelly Martin, chief executive officer, Elan. “We chose UCD as our
academic partner in the business of biotechnology because of the
university’s track record in driving an innovation culture among its
scientists.”

“In assisting to create the next generation of Irish biotech leaders
with UCD it is apt to acknowledge some of those who have helped to
create the environment for this to succeed. I am delighted that we can
honour the contribution of Kieran McGowan, Kyran McLaughlin and Laurence
Crowley as part of this effort for their contribution to both Elan and
the broader business context in Ireland,” continued Mr Martin.

Under the direction of Dr Hugh Brady, president of UCD, the university
has embedded innovation into the education curriculum, “The overarching
goal of the sponsorship is to further strengthen the quality of the
Irish graduate pipeline by creating a generation of business graduates
who are technology savvy and of science graduates who can realise their
innovation and entrepreneurial potential.”

According to Kelly Martin the potential for biotechnology is enormous
and the current focus of the sector is on the expansion of research and
discovery activities to complement Ireland’s established strength in
manufacturing. Consequently, the Elan/UCD business of biotechnology
initiative will open opportunities for scientists in Ireland who wish to
commercialise their work.

“The Elan-UCD partnership initiative is an example of how industry and
university can support the national economic agenda – getting our
brightest minds to provide vision and leadership for future wealth
generation,” Mr Martin said. “Promoting innovation in core science like
this has an eye on creating high value jobs and enterprises that will
enable graduates to contribute from Ireland in a meaningful way to the
global biotech sector.”

The Elan €3.17 million to UCD comes after the company’s announcement of
a strategic alliance with Cambridge University for research into
Alzheimer’s and Parkinson’s disease. “Normally donations of this size
are for bricks and mortar but Elan’s investment in brainpower
demonstrates the company’s commitment to Ireland at this juncture. It
will have a profound impact on UCD’s future and on the expansion of our
unique science and business offering,” Dr. Brady said.

“Ireland needs to produce the best business and technology graduates if
it is to continue to attract major multinational companies and grow its
own technology sector. It also needs to take every step possible to
increase the commercialisation of its research outputs and to enhance
the innovation capacity of Irish-based industry. The creation of a
business of biotechnology hub supports the Irish and indeed the European
agenda to support emerging enterprise in this area,” concluded Dr. Brady.

In recent years, UCD has fostered over 250 industry partnerships and is
the national leader in technology transfer and university spinouts
through NovaUCD. Over 35 client companies are currently located at
NovaUCD covering ICT, biotech, medical devices, wireless and renewable
energy start-ups.

Ends/

About UCD

UCD is Ireland’s largest university with 25,000 students, including 30%
of all international students in the country. UCD educates the largest
number of science and engineering graduates in Ireland, including over
31% of the science and engineering PhDs in the country, making it the
national leader in fourth-level education. UCD has been ranked number
one in research funding in Ireland for the last two years. Its research
portfolio is particularly strong in biotechnology and includes the
emerging area of systems biology. UCD is currently constructing an
iconic 67,000 m² Science Centre for teaching and research –
the largest science capital development project in the history of Irish
third-level education.

In recent years, UCD has fostered over 250 industry partnerships and is
the national leader in technology transfer and university spinouts.
Supported by the expertise of NovaUCD – the University’s hub for
knowledge transfer and commercialisation activities – many of these
start-ups have gone on to develop new and game-changing products and
services.

About Elan

Elan is a neuroscience focused biotechnology company committed to making
a difference in the lives of patients and their families by dedicating
itself to bringing innovations in science to fill significant unmet
medical needs that continue to exist around the world. For additional
information about Elan, please visit www.elan.com

Notes to Editor:

Kieran McGowan

A director of Elan, and a director of Charles Schwab Worldwide Funds
plc, McGowan was, until May 2012, Chairman of CRH, plc. From 1990 until
his retirement in December 1998, he was Chief Executive of the
Industrial Development Authority of Ireland. He is a former Chair of the
UCD Governing Authority.

Kyran McLaughlin

Deputy chair at Davy, Ireland’s largest stockbroker firm, he is a
director of Elan and served as chairman from 2005 to 2011. He is also a
director of Ryanair Holdings plc and is a director of a number of
private companies.

Laurence Crowley

Former partner in KPMG Stokes Kennedy Crowley Chartered Accountants,
Laurence has served on many boards in Ireland. He is currently chair of
PJ Carroll and Co Ltd, and of Realex Payments. He is also a director of
Aer Lingus and of Bord Gais Eireann. He served as a director of Elan
Corporation and as executive chairman of UCD Michael Smurfit Graduate
School of Business. He is former Governor of Bank of Ireland.

He is a co-chairman of the North South Roundtable Group; chairman of
‘Gaisce – The President’s Award’, the Gate Theatre and The Middletown
Centre for Autism.

He is a Director of Economic and Social Research Institute and serves on
the Advisory Board of the US-Ireland Alliance.

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