First off, this is not Scripps Hospital which used to have the research center until the separated a number of years back. USC is prepared to use some of the money from their $6 billion capital campaign to subsidize such a deal and are discussing
a relationship. The faculty states the deal with USC would not cover the support they need. Philanthropy has been short with the Scripps Center along with competition as fewer grants available for work.
UC San Diego feels the Scripps Research center would be a better fit, and just location wise that part works. It will be interesting to follow this one along and see where ownership or partnership takes the center. BD
Both USC and UC San Diego are interested because Scripps Research is among the most revered life science institutes in the world. Its faculty includes Nobel Prize winners and other top scientists whose work has led to the development of drugs to fight such things as cancer and arthritis. The institute also holds many lucrative patents, and it routinely collaborates with industry, particularly pharmaceutical companies.
Scripps Research is struggling financially for a variety of reasons, ranging from sharp competition for federal grants to a paucity of private donations
Faculty leaders at The Scripps Research Institute in La Jolla are strongly objecting to a proposed merger or takeover by the University of Southern California, saying such a deal could “destroy much of what has been built and what we and others in the community value so much.”
Ten department heads and a dean lodged the protest in an email sent Friday to institute President Michael Marletta. He has been exploring options with privately run USC because the center and its satellite campus in Jupiter, Fla., are experiencing serious financial problems.
Scripps Research was once affiliated with Scripps Health, which runs the Scripps network of hospitals. That combination of basic research and health care helped fundraising, said David Mitchell, a former top fundraiser for Scripps. Grateful patients donated large sums of money, which helped both research and clinical operations.
http://www.utsandiego.com/news/2014/Jun/20/scrippsresearch-USC/?#article-copy
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