We provide applause as appropriate

When we see a nice big appropriation for human capital at UCLA, as opposed to grand edifices, we are always pleased. From the UCLA Newsroom:

UCLA has sold its royalty interest connected with a leading prostate cancer medication, Xtandi, whose development was based on discoveries by campus researchers.

Royalty Pharma has acquired rights to a portion of the future Xtandi royalties co-owned by UCLA, researchers working at the university at the time of the discoveries and a research organization. The transaction includes a cash payment of $1.14 billion and potential additional payments based on future Xtandi sales.

UCLA will use its share of the proceeds — approximately $520 million — to support research programs aimed at generating additional discoveries that lead to medications and other products that serve the public good. UCLA also will support undergraduate scholarships and graduate student fellowships, a campus priority...

Full news release at http://newsroom.ucla.edu/releases/ucla-sells-royalty-rights-connected-with-cancer-drug-to-royalty-pharma