Navigation Links
University of Pittsburgh and University City Science Center in Philadelphia Join Forces to Commercialize Early-Stage Technologies
Date:1/30/2017

The University of Pittsburgh is the newest academic participant in the University City Science Center’s Phase 1 Ventures program. To launch their partnership, the Science Center and the University of Pittsburgh Innovation Institute are collaborating to commercialize a Pitt-developed technology for accurately aligning lower-limb prostheses.

Phase 1 Ventures (P1V) is a startup accelerator for launching companies around “long horizon” technologies that typically require significant development and/or regulatory approvals, such as healthcare, materials, or energy. Entrepreneurs are either matched to a technology at one of P1V’s participating universities or enrolled as part of a previously formed company that has not yet raised financing. Since it was launched in 2015, P1V has committed a total of over $1.3 million to participants, typically as the first investment. These participants have raised a total of over $1.6 million in non-dilutive funding and $250,000 in follow-on investment to date.

“I am delighted by the strong cross-Commonwealth cooperation in our agreement with the University City Science Center,” said Marc Malandro, Founding Director of the University of Pittsburgh Innovation Institute and Chairman of Life Sciences PA (formerly Pennsylvania Bio), the state’s trade association for the life sciences industry. “Pennsylvania has two of the top five NIH funded universities in the United States in the University of Pittsburgh and the University of Pennsylvania, along with many other institutions with strong life sciences programs. Through increased collaboration, we can ensure that Pennsylvania continues to grow its life sciences economy, providing good paying jobs, while also benefitting all of society with impactful innovations that improve and prolong lives.”

The first Pitt project being supported by P1V is a technology that facilitates extremely accurate prostheses fittings, thereby reducing physical discomfort and wear and tear, as well as the need for recurring re-fitting visits. The technology was developed by Goeran Fiedler, assistant professor in the School of Rehabilitation Science, and former Pitt faculty member Jonathan Akins, now at Widener University. P1V has helped to form a startup company and work with the Pitt team to develop a commercialization plan, and has provided assistance in applying for a federal STTR grant to further develop the technology. If the company is successful in obtaining grants, the Science Center could choose to make its own investment, or seek other investors or industry funding for the company.

“Phase 1 Ventures is making the geographic gap between Philadelphia and Pittsburgh just a little bit less of a divide for commercialization in Pennsylvania,” says Science Center President & CEO Stephen S. Tang, Ph.D., MBA. “Partnerships like the one that the Science Center and Pitt are forging through Phase 1 Ventures mean that inventors and entrepreneurs can access the resources they need to create great new companies – regardless of where they are.”

Launched in 2015, P1V’s portfolio currently includes 19 newly-formed companies representing intellectual property from twelve institutions, including The Children’s Hospital of Philadelphia; Drexel University; Lehigh University; Penn State University; Rutgers, The State University of New Jersey; Temple University; Thomas Jefferson University; University of Delaware; University of Iowa; University of Pennsylvania; University of Pittsburgh; and University of the Sciences.

About the University of Pittsburgh Innovation Institute
Established in 2013, the University of Pittsburgh Innovation Institute is the University’s hub for innovation and entrepreneurship. The Innovation Institute provides a comprehensive suite of services for Pitt Innovators, from protecting intellectual property to the commercialization of new discoveries. The Institute also provides a wealth of educational programming, mentoring and networking for Pitt faculty, students and regional small businesses.

About the Science Center
Located in the heart of uCity Square, the Science Center is a mission-driven nonprofit organization that catalyzes and connects innovation to entrepreneurship and technology commercialization. For 50+ years, the Science Center has supported startups, research, and economic development in the life sciences, healthcare, physical sciences, and emerging technology sectors. As a result, graduate firms and current residents of the Science Center’s incubator support one out of every 100 jobs in the Greater Philadelphia region and drive $13 billion in economic activity in the region annually. By providing resources and programming for any stage of a business’s lifecycle, the Science Center helps scientists, entrepreneurs and innovators take their concepts from idea to IPO – and beyond.
For more information about the Science Center, go to http://www.sciencecenter.org

Read the full story at http://www.prweb.com/releases/2017/01/prweb14021384.htm.


'/>"/>
Source: PRWeb
Copyright©2017 Vocus, Inc.
All rights reserved


Related biology technology :

1. University of Colorado Cancer Center Study Shows that Bitter Melon Juice Prevents Pancreatic Cancer in Mouse Models
2. iLab Solutions and Vanderbilt University Partner to Deliver a Premier Core Facility Management Solution
3. University Of Colorado Cancer Center Tests Promising New Drug to Treat and Protect Against Radiotherapy-Associated Oral Mucositis
4. Washington State University to Present on Tin Nanoneedles: A Technology for Lithium-ion Batteries, at Knowledge Foundation’s Next Generation Batteries 2013 Conference
5. University of Oklahoma Housing and Food Likely to Surpass Budget, My Cleaning Products Recommends Pest Control Products That Could the Department's Spending in Half
6. ‘Timely’ new undergrad program in photonics at University of Central Florida applauded by SPIE
7. NuView Life Sciences and Thomas Jefferson University Sign Agreement for Exclusive Development and Commercialization Rights to Novel Prostate Cancer Diagnostic
8. Medical University of South Carolina Selects Elseviers Interdisciplinary Care Planning and Clinical Documentation Solution
9. University of Maryland Breast Cancer Research Pioneer Dr. Angela Brodie Appointed Fellow of New American Association for Cancer Research Academy
10. San Diego State University Hosts Open House for Life Science Immersion Biotechnology Program
11. Global Virus Network Opens Headquarters in the University of Maryland BioPark
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/18/2019)... ... June 18, 2019 , ... Personalized Stem Cells, Inc (“PSC”), a ... the FDA for use of a person’s own adipose-derived stem cells to treat their ... the knee. This IND is the first of several planned clinical trials which ...
(Date:6/11/2019)... ... June 10, 2019 , ... Thought Technology Ltd is pleased ... Biofeedback Tech Ltd as its authorised distributor for the UK and ... therapeutic treatments and clinical assessment protocols to treat stress related disorders as well ...
(Date:6/11/2019)... Calif. (PRWEB) , ... June 10, 2019 , ... ... today announced IOPP will add 80 of its scientific journals to DeepDyve’s rental ... physics-related content to DeepDyve’s continually expanding library of more than 20 million articles, ...
(Date:6/11/2019)... ... 2019 , ... Veterinary Regenerative Medicine company, VetStem Biopharma ... that their GMP facility for cell production is now approved by the California ... an important milestone for VetStem as it expands into contract cell manufacturing services. ...
Breaking Biology Technology:
(Date:6/13/2019)... , ... June 13, 2019 , ... ... the first organization exclusively serving the end-to-end clinical and ancillary supply chain management ... as contract and medical research organizations, today announced it will sponsor a summer ...
(Date:6/11/2019)... , ... June 10, 2019 , ... Improved Pharma LLC ... July 2019 issue of AAPS PharmSciTech. The article was published online on April 29th, ... Improved Pharma, along with Xiaoming Sean Chen of Purdue University. , The article is ...
(Date:6/6/2019)... ... June 05, 2019 , ... Pelican BioThermal ... network station and service center in Mexico City, Mexico. Mexico is the second ... with more than $1.75 billion in pharmaceutical exports since 2015. The Mexico City ...
Breaking Biology News(10 mins):