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April 21, 2015 3:07 PM ET

Diversified Consumer Services

Company Overview of Massachusetts Institute of Technology

Company Overview

Massachusetts Institute of Technology is an academic research and educational institution. The university has five schools that offer degree courses in architecture and planning, engineering, humanities, arts, and social sciences, management, and science. These include twenty-seven degree-granting departments, programs, and divisions. Massachusetts Institute of Technology was founded in 1861 and is based in Cambridge, Massachusetts.

77 Massachusetts Avenue

Cambridge, MA 02139-4307

United States

Founded in 1861

Phone:

617-253-1000

Key Executives for Massachusetts Institute of Technology

President
Age: 63
Chancellor
Executive Vice President, Treasurer and, Trustee
Age: 70
First Vice President and General Counsel
Age: 60
Director of Finance
Compensation as of Fiscal Year 2014.

Massachusetts Institute of Technology Key Developments

Enumeral Biomedical Corp. Enters into Third Amendment to Patent License Agreement with Massachusetts Institute of Technology

On April 15, 2015, Enumeral Biomedical Corp. (Enumeral), a subsidiary of Enumeral Biomedical Holdings Inc., entered into a third amendment to that certain exclusive patent license agreement, dated as of April 15, 2011, by and between the Massachusetts Institute of Technology and Enumeral. The amendment revises the timetable for Enumeral to complete certain diligence obligations relating to the initiation of clinical studies in support of obtaining regulatory approval of a Diagnostic Product, as well as the timetable by which Enumeral shall make the first commercial sale of a Diagnostic Product. The company intends to seek confidential treatment for certain portions of the Amendment.

Bayer Healthcare Expands Collaboration with Broad Institute of MIT and Harvard to Develop Therapies for Cardiovascular Disease

Bayer HealthCare (Bayer) has expanded its collaboration with the Broad Institute of Massachusetts Institute of Technology (MIT) and Harvard University to include cardiovascular genomics and drug discovery. The goal of this new part of the alliance is to leverage insights from human genetics to help create new cardiovascular therapies. Cardiovascular genomics is an emerging field of cardiology that uses genomic information to characterize disease risk and identify new therapeutic targets for drug discovery. Cardiovascular disease is responsible for approximately one-third of all deaths worldwide each year. While a majority of cardiovascular disease can be associated with lifestyle factors such as tobacco consumption, diet, and level of physical activity, risk genes can influence the predisposition to cardiovascular disease, age of onset, and severity. As part of this strategic alliance, Broad Institute and Bayer HealthCare will collaborate on genetic discovery, target validation, and drug discovery activities. Governance for this alliance will be comprised of a joint steering committee and joint research committee that will oversee research progress and direction. Financial terms of the agreement were not disclosed.

Massachusetts Institute of Technology Wins $1.73 Billion Federal Contract

Massachusetts Institute of Technology was awarded a $1,734,516,083 federal contract modification by U.S. Air Force Life Cycle Management Center, Hanscom Air Force Base, Massachusetts, for the operation of the Lincoln Laboratory. Place of performance will be in Lexington, Massachusetts.

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