Case Western Reserve University continues to reach new highs in its technology transfer efforts.
In the fiscal year ended June 30, 2006, the university's technology transfer office completed 37 licensing and option deals, compared with 26 the previous year, a 42 percent increase. "We are extremely pleased with the results from this past fiscal year," said Mark Coticchia, vice president for research and technology management. "They continue to show that Case has reached a level of sustainability in its technology licensing efforts. Importantly, this record level of transactions will not only translate into meaningful revenue in three to five years, it also means more technologies developed by our researchers will reach the public, which remains our primary goal."
During the fiscal year, the university received 174 invention disclosures from researchers at Case and its affiliate institutions, a new record for the institution and a 36 percent increase over the previous year. "Case researchers continue to excel," noted Dr. Joseph Jankowski, assistant vice president for technology transfer—biomedical sciences. "These talented individuals are developing new innovations with the potential to impact society across a wide range of areas, and are performing above the national average in terms of inventions produced per million dollars in external research funding."
Licensing income for the fiscal year was $10.8 million, compared to $8.4 million in the previous year, an increase of 29%. Excluding one-time gains, fiscal year 2006's revenue far exceeded the adjusted levels of $7 million in 2004 and $6 million in 2003, and represents another record for the university. The university also generated four start-up companies during the fiscal year, results comparable to those of its previous two fiscal years.
"Since the inception of the current tech transfer program five years ago, we have brought in a total of $43.2 million in revenue on an investment of about $10 million, a four-time return on the university's investment," said Nick Frollini, assistant vice president for technology transfer—engineering and physical sciences and operations. "We are extremely proud of our record, and are fortunate to have such a talented team in place; their hard work and dedication are what make this possible."
Since the inception of the current technology transfer program in late 2001, approximately $21 million has been distributed to inventors at Case and its affiliate institutions; the balance of the university's proceeds have been used to support programs across campus.
Coticchia said he expects the university to continue to work to increase its level of technology transfer activity as it moves forward, and to announce additional start-up companies over the coming months.
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