Trustees Accept Aventis Donation

Cincinnati -- The University of Cincinnati Board of Trustees has accepted the significant donation from Aventis Pharmaceuticals of laboratory facilities at the company's Reading, Ohio, site. UC and Aventis have been working out the details of the property transfer since a letter of intent was signed last spring. Aventis will now transfer ownership of 23 acres of land and the designated buildings comprising approximately 360,000 square feet of office and laboratory space.

"This is the greatest and largest gift this university has ever received," said Benjamin Gettler, Chairman of the Board of Trustees. Donald C. Harrison, MD, senior vice president and provost for health affairs at UC, said the replacement cost of the facilities is estimated at $100 million with about $25 million needed for upgraded utilities and other renovations over the next five years. "The labs themselves are in great shape," said Harrison.

UC and Children's Hospital intend to develop a nonprofit medical research institute on the site, which will house as many as 40 senior research scientists and their staffs. As part of the Medical Center's Millennium Research Plan, scientists working at the institute will focus on new treatments for cancer, heart disease, neurological and behavioral disorders, and early childhood illnesses.

"The University of Cincinnati and Children's Hospital Medical Center have collaboratively launched the Millennium Plan, with goals of doubling outside support for biomedical research by 2006 and adding 250 funded investigators," said Harrison.

One of the most urgent needs for the Medical Center is providing state-of-the-art laboratories for the scientists who are being recruited. Building new facilities and renovating older, existing laboratories takes time. "The donation from Aventis will give us a tremendous push towards meeting our Millennium Plan goals," said Harrison. "Even though certain modifications will need to be made on the property, the laboratories and office spaces were built for the kind of research we expect to be conducted there." "Aventis Pharma, through one of its predecessor companies, has been fortunate to have an excellent research facility in the Cincinnati area," said Errol de Souza, head of U.S. Drug Innovation & Approval for Aventis Pharma. "Centralizing our U.S. Drug Innovation & Approval research operations in Bridgewater, N.J., however, has freed up this facility, which is a perfect match for the University of Cincinnati and Children's Hospital Medical Center's needs. Aventis is proud to help them get their important research efforts off the ground. Donating our lab and office facility is a win-win for Aventis, UC and the Greater Cincinnati community."

Aventis still operates manufacturing facilities at the Reading location, employing about 600 people and providing pharmaceutical and over the counter products for distribution internationally. The donation does not include any of the manufacturing facilities currently occupied by Aventis.

Aventis (NYSE: AVE) is a world leader in life sciences. Focused on two core business areas - pharmaceuticals and agriculture - Aventis is dedicated to improving life through the discovery and development of innovative products in the fields of prescription drugs, vaccines, therapeutic proteins, crop production and protection, animal health and nutrition. With global corporate headquarters in Strasbourg, France, Aventis employs around 95,000 people in more than 120 countries and recorded pro forma sales in 1999 of 20.5 billion euros. Aventis was launched in December 1999 through the merger of Hoechst AG of Germany and Rhone-Poulenc SA of France.

The Medical Center is planning an open house and tour for the general public Wednesday, Feb. 28.