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University to team up with biotechnology company
In brief
by Eric Florip | News Editor
A licensing agreement announced Tuesday with biotechnology company MitoSciences Inc. could net the University as much as $4.6 million for its research during the next decade.
The agreement, which centers on the University's development of antibodies related to disorders such as Alzheimer's disease, Parkinson's disease and diabetes, will transfer distribution responsibilities of the antibodies to MitoSciences. The University will also receive royalties on patents and sales of its materials through the company, which was founded by University researchers Roderick Capaldi and Michael Marusich in 2003.
MitoSciences will also receive commercialization rights for related biological materials made at the University.
Don Gerhart, associate vice president for research and innovation, said the agreement will benefit both parties involved.
"It's good for the University because it provides a connection of these research innovations out to the community through an entity that really has a deep interest in research and innovation," Gerhart said.
The deal will also allow MitoSciences to expand its operation and potentially hire more staff, he added. The company currently employs about 20 people at its facility in the University's Riverfront Research Park.
Gerhart said such agreements between a research company and the university it originated from are not uncommon. He also praised the efforts of Capaldi and Marusich in putting it together.
eflorip@dailyemerald.com
The agreement, which centers on the University's development of antibodies related to disorders such as Alzheimer's disease, Parkinson's disease and diabetes, will transfer distribution responsibilities of the antibodies to MitoSciences. The University will also receive royalties on patents and sales of its materials through the company, which was founded by University researchers Roderick Capaldi and Michael Marusich in 2003.
MitoSciences will also receive commercialization rights for related biological materials made at the University.
Don Gerhart, associate vice president for research and innovation, said the agreement will benefit both parties involved.
"It's good for the University because it provides a connection of these research innovations out to the community through an entity that really has a deep interest in research and innovation," Gerhart said.
The deal will also allow MitoSciences to expand its operation and potentially hire more staff, he added. The company currently employs about 20 people at its facility in the University's Riverfront Research Park.
Gerhart said such agreements between a research company and the university it originated from are not uncommon. He also praised the efforts of Capaldi and Marusich in putting it together.
eflorip@dailyemerald.com
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