One Step Closer: Novel Opioid Receptor Compound in Phase I Clini...(investment in and securing a number of p...),Health

Date:5/8/2009

investment in and securing a number of patent applications in the U.S. and overseas, in January 2007, Rensselaer announced a license agreement granting Alkermes rights to the patented and patent pending technologies. Soon after, the Institute began to receive payments for the licensing.

OTC success

With the establishment of the OTC, Rensselaer has staked its claim in the changing landscape of American research universities, where researchers are increasingly encouraged to protect their discoveries and hopefully effectively license them to industry for life-enhancing products. This year, through OTC's efforts, licensing revenues and patent reimbursements paid to the Institute are expected to be approximately $1,067,000, building upon a steady annual growth since 2002 when Rensselaer only generated $62,000.

Since 2000, more than 250 inventors have filed patent disclosures with the OTC. In addition, more than 110 patents have been issued and Rensselaer has over 45 active licenses and averages 12 to 15 new deals a year, according to Kudla.

And thanks to the OTC, Wentland is a step closer to his dream that serves as a promising next step for a medical advance he has been chasing for his entire drug discovery career. The license agreement also culminates years of research work by his team that includes more than 20 undergraduate, graduate and postdoctoral students in Rensselaer's Department of Chemistry and Chemical Biology, along with Jean Bidlack, professor of pharmacology and physiology at the University of Rochester, and members of her pharmacology group, and funding by the National Institutes of Health.

"I didn't do it myself," Wentland said. "With the OTC, it went very smoothly. In the last 39 years I have had many drugs enter the clinic and then fail. And now I'm here again with another chance and I'm absolutely proud of our entire team. The only way academic research
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SOURCE Rensselaer Polytechnic Institute Copyright©2009 PR Newswire. All rights reserved

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