While UAB is purchasing a nine-acre portion of the Southern Research campus on Birmingham's Southside, Southern Research will retain ownership of its modern, flagship 150,000-square-foot research building that supports its Station 41 drug discovery accelerator and start-up incubator.The University of Alabama System Board of Trustees has approved the University of Alabama at Birmingham’s $15 million purchase of a portion of the Southern Research campus on Birmingham’s Southside.
Southern Research will retain ownership of its modern, flagship 150,000-square-foot research building that supports its Station 41 drug discovery accelerator and start-up incubator, as well as other operations, while UAB acquires nine acres of the Southern Research campus.
Southern Researchwill lease back some building space to maintain operations, and UAB will have the opportunity to use administrative and research space that has been empty or otherwise unutilized by Southern Research.
UAB President Ray Watts, M.D., who chairs the Southern ResearchBoard of Directors and is serving a second stint as Southern Research interim chief executive officer, says the transaction supports strategic priorities for both Southern Research and UAB.
“This is a clear win-win scenario for Southern Research and UAB,” Watts said. “UAB will now have access to research space that is currently unused or not used to its fullest potential by Southern Research, while Southern Research concentrates its focus on important drug discovery activities in its new, state-of-the-art research building.”
The purchased nine acres is adjacent to UAB’s campus and near existing research buildings, which Watts says will facilitate seamless support and growth of UAB’s research mission, as well as its important collaborations with the Southern Research team.
Southern Research Chief Operating Officer Harry Ledebur Jr, Ph.D., says the sale comes at an important time for Southern Research.
“With the evolving landscape of biomedical research, it is more important than ever that we make deliberate decisions about where we invest our resources and how we position Southern Research for the future,” Ledebur said. “This transaction allows us to better align our physical footprint with our operations, concentrate resources on our core scientific capabilities, and strengthen Southern Research’s long-term sustainability while continuing our important partnership with UAB.”
Southern Research is a nonprofit, scientific contract research organization with 80+ years of experience in drug discovery and development. Southern Research is an incorporated affiliate of UAB, and the two institutions are brought together through a shared belief in the power and potential of collaborative research.
O’Neal Industries CEO Ruffner Page serves as vice chairman of the Southern Research Board of Directors.
“For many years, Southern Research has collaborated with UAB to accelerate discovery and innovation,” Page said. “This purchase, along with Southern Research’s and UAB’s commitment to a continued strategic partnership, serves the greater good and has the full support of the Southern Research Board.”