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The Purdue Research Foundation is reporting a record year for startup companies that were formed through Purdue University-licensed technologies. The foundation says 15 companies were launched from July of last year to June of this year. The foundation says only five companies were formed the previous year.
Record Breaking Year For Purdue Startups
WEST LAFAYETTE, IN | Posted on August 29th, 2007
Purdue Research Foundation's Office of Technology Commercialization announced a record-breaking year for startup companies formed from Purdue University-licensed technologies.
The Office of Technology Commercialization reported that 15 companies were launched in the fiscal year running from July 2006 to June 2007. The office leads the effort to bring Purdue researchers' discoveries into viable commercial enterprises in the fields of medical devices, life sciences, information technology, agriculture, advanced manufacturing, telecommunication and engineering design. By comparison, five new companies were created from Purdue-licensed technologies in the previous fiscal year, and seven new companies were created in the fiscal year of July 2004 to June 2005.
"The dramatic increase in new companies developed through our Office of Technology Commercialization can be attributed to several factors, including our concerted effort to increase the Purdue Research Park's collaborations with Discovery Park and other areas of research taking place on the Purdue campus," said Joseph B. Hornett, Purdue Research Foundation's senior vice president, treasurer and COO. "Also, the assistance with the licensing and patenting process that the office provides for faculty researchers is invaluable for new business developers."
In the latest fiscal year, the Office of Technology Commercialization executed 102 licenses, compared to 90 licenses for the previous year, and filed 208 patent applications for this latest fiscal year, compared to 170 patent applications for the previous year. The office also reported more than $5 million in royalty revenue - an all-time high for the Purdue Research Foundation.
Purdue Research Park is ranked as one of the nation's best university research parks. Within the park, 140 businesses, of which more than 90 are high-tech, employ more than 2,900 people.
Purdue's Discovery Park has grown into a $350 million interdisciplinary research complex where researchers are tackling society's challenges in areas ranging from advanced manufacturing, cancer treatment and energy to nanotechnology, life sciences and the environment.
"Our goal of moving discoveries from the laboratory to the market is advancing even faster than we anticipated," said Alan Rebar, executive director of Discovery Park. "We are very pleased with the collaborations we have developed, particularly with the partnerships formed through the Burton D. Morgan Center for Entrepreneurship within Discovery Park and the Purdue Research Foundation's Office of Technology Commercialization."
Of the 15 companies formed, all have locations in Indiana, and seven of these have headquarters at Purdue Research Park, including MatrixBio LLC, M4 Sciences Inc., MagSense Life Sciences, Kylin Therapeutics Inc., 2K Corp., Moerae Matrix LLC and Nanovis Inc. Moerae Matrix also has a location in New Jersey. The other new Indiana companies formed through the Purdue Research Foundation's Office of Technology Commercialization are BioProcessing Technologies Inc., Cascade Metrix Inc., Sift Data Systems LLC, VEM Systems LLC, Zb2 Inc., Celsys Biofuels, Inc., AlGalCo LLC and Data Rangers LLC. VEM Systems also has a location in Columbus, Ohio.
"It has been an exceptional year for technology transfer from the university and for the companies that have been created as a result of Purdue faculty inventions," said Simran Trana, director of Purdue Research Foundation's Office of Technology Commercialization. "The companies span a diverse range of technologies.
"For example, Kylin Therapeutics is developing pRNA-based therapeutics to produce treatments for late-stage cancers. 2K Corp. is implementing a high-tech explosives detection process that can be used for security purposes in airports, postal offices, governmental embassies and other areas. Data Rangers is advancing chemical, biological and radiological monitoring systems for air and water."
About Purdue Research Foundation
Purdue Research Park (http://www.purdueresearchpark.com) encompasses 591 acres in West Lafayette, Ind., and is home to the largest university-affiliated, state-of-the-art business incubator complex in the nation. The Association of University Research Parks recognized Purdue Research Park for Excellence in Technology Transfer in 2005, and the park received the organization's Research/Science Park Company of the Year Award of Excellence in 2004.
About the Office of Technology Commercialization
The Office of Technology Commercialization is a Purdue Research Foundation division that operates one of the most comprehensive technology transfer programs among leading research universities in the United States. Services provided by this office support the economic development initiatives of Purdue University and benefit the university's academic activities by protecting, marketing and licensing Purdue's intellectual property. In 2006 the foundation issued 30 patents, granted 97 licenses and options, and received $3.8 million in royalty payments.
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