A charter group of private and public universities that includes New York University, the University of Florida, the University of North Carolina at Chapel Hill, and the University of Pennsylvania has entered into memorandums of understanding with BioPontis Alliance LLC of Raleigh, NC, to advance promising research discoveries. A biomedical development partnership, BioPontis will conduct intermediary technical and patent development work to attract downstream development partners in the biopharmaceutical industry. BioPontis also will work with participating faculty inventors so that all parties can benefit from research and knowledge gains as projects advance toward commercialization. The BioPontis model promotes collaboration on testing and validation as well as on patent enhancements. “The BioPontis Alliance model brings desperately needed financial resources and development expertise to bear at one of the most critical and delicate stages of university-based technology validation and commercialization,” says Michael J. Cleare, PhD, associate vice provost and executive director of the Center for Technology Transfer at U-Penn.
“Universities need a palette of mechanisms to choose from as we work to meet our commitment to achieving public good from our innovative science,” adds David Day, director of U-Florida’s Office of Technology Licensing. “BioPontis Alliance is a model that could be reiterated across many scientific fields and many institutions.” BioPontis is raising a $35 million fund. Co-investment by private investors also is expected “as we deploy capital extremely efficiently across the portfolio, avoiding fixed costs by employing almost exclusively contracted R&D facilities and expertise,” says Barbara Handelin, PhD, president of BioPontis Alliance. “We have figured out how to de-risk this space starting with the right applied science and patenting expertise.” The partnership expects to close the fund in Q3 and immediately begin development on initial assets identified by the university alliance partners.
Source: PharmaLive