The University of Alabama System board of trustees has approved the University of Alabama at Birmingham’s $15 million purchase of part of Southern Research’s campus on Birmingham’s Southside.
Southern Research will retain ownership of its 150,000-square-foot research building, with UAB acquiring nine acres of the Southern Research campus.
UAB President Ray Watts chairs the Southern Research board of directors and is Southern Research’s interim CEO.
“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 nine acres that UAB is purchasing are adjacent to UAB’s campus and near existing research buildings.
Southern Research Chief Operating Officer Harry Ledebur Jr. 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, a nonprofit, scientific contract research organization, is an incorporated affiliate of UAB.
