updated: 2/13/2007 8:05:12 AM

Purdue Research Foundation Reports Record Year For Start-Ups

InsideIndianaBusiness.com Report

The Purdue Research Foundation says 2006 was a record breaking year for start-up companies at the university. The foundation reports that last year 14 companies were launched using Purdue licensed-technology in areas including, medical devices, life sciences and advanced manufacturing. The foundation says of the 14 companies created, ten are located in Indiana with four being headquartered in the Purdue Research Park. One of the companies is Zb2 Inc., which is developing a new bike design that won first prize in the 2005 International Bicycle Design Competition and was featured by Time Magazine as one of "The Most Amazing Inventions of 2005."

Source: Inside INdiana Business

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Press Release

WEST LAFAYETTE, Ind. Purdue Research Foundation announced Tuesday (Feb. 13) that 2006 was a record-breaking year for start-up companies formed from Purdue University-licensed technologies.

PRF's Office of Technology Commercialization reports that 14 companies were launched last year based on Purdue researchers' innovations in the fields of medical devices, life sciences, information technology, agriculture, advanced manufacturing, telecommunication and engineering design.

"Our tech companies are rolling off the 'assembly line' at a faster rate due to several factors, including increased efforts by Purdue's Discovery Park to educate and guide faculty toward successful start-up initiatives as well as the foundation's enhanced marketing of emerging technologies to interested entrepreneurs and investors," said Joseph B. Hornett, PRF's senior vice president, treasurer and COO. "Once companies are formed, the foundation itself is investing in an increased number of them, and our research park infrastructure and programming has provided them with a secure place to start growing."

Since it was launched in 2002, Purdue's Discovery Park has grown into a $350 million interdisciplinary research complex where researchers are tackling society's grand challenges in areas ranging from advanced manufacturing, cancer treatment and energy to nanotechnology, life sciences and the environment. The Burton D. Morgan Center for Entrepreneurship was the first center created within Discovery Park to serve as a platform to launch technology-based enterprises based on university research. Opened in 2004, this center works closely with faculty, students and Indiana entrepreneurs to better understand how to bring research and technology to market.

"We are having tremendous success in effectively and efficiently translating Purdue's research conducted at Discovery Park and elsewhere on campus into viable commercial enterprises," said Alan Rebar, executive director of Discovery Park. "And our mission to spark Indiana's economy has advanced even quicker than we anticipated because of the strong relationship Discovery Park researchers have with the Purdue Research Park, which is ranked as one of the nation's best university research parks."

Of the 14 companies formed, 10 are located in Indiana and four of these have headquarters at Purdue Research Park, including Prima Specialty Vectors LLC, M4 Sciences Inc., MagSense Life Sciences and Nanovis Inc. The other companies are Advanced Radio Therapeutic Solutions, BioMatrix LLC, BioProcessing Technologies Inc., Broadband Antenna Tracking Solutions Inc., Cascade Metrix Inc., LifePulseMedical Inc., PaxVax Inc., Sift Data Systems LLC, VEM Systems LLC and Zb2 Inc.

"Several very interesting companies emerged from Purdue's intellectual property pipeline last year," said Simran Trana, director of PRF's Office of Technology Commercialization. "Zb2 Inc. is developing a unique bike design that won first prize in the 2005 International Bicycle Design Competition and was featured in Time magazine as one of 'The Most Amazing Inventions of 2005.' M4 Sciences Inc. is developing and implementing techniques expected to bridge the gap between nanomanufacturing and macro-manufacturing, making it one of the most exciting and challenging frontiers in the field of advanced manufacturing. And PaxVax Inc. is developing oral vaccines to fight existing and emerging pandemic diseases."

About the Office of Technology Commercialization

The Office of Technology Commercialization is a Purdue Research Foundation division that operates one of the most comprehensive technology transfer programs among leading research universities in the U.S. Services provided by this office support the economic development initiatives of Purdue University and benefit the university's academic activities by protecting, marketing and licensing Purdue's intellectual property. In 2006, the foundation issued 30 patents, granted 97 licenses and options, and received $3.8 million in royalty payments.

About Purdue Research Park

Purdue Research Park (http://www.purdueresearchpark.com) encompasses 591 acres in West Lafayette, Ind., and is home to the largest university-affiliated, state-of-the-art business incubator complex in the nation. Within the park, 140 businesses, of which more than 90 are high-tech, employ more than 2,900 people. The Association of University Research Parks recognized Purdue Research Park for Excellence in Technology Transfer in 2005, and the park received the organization's Research/Science Park Company of the Year Award of Excellence in 2004

Source: Purdue Research Foundation

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