The Purdue Research Foundation and Bloomington-based Cook Medical say a $12 million partnership is already paying dividends. The collaboration has pumped more than $3 million into startups working to commercialize biomedical and life sciences technologies developed at Purdue.
PRF and Cook founded the nonprofit Foundry Investment Fund in 2014, designed to help move Purdue innovations to the public.
Symic Bio has received nearly $450,000 from the fund. The company is developing new therapeutics for diseases including cancer and osteoarthritis. SpeechVive has received $225,000 for its device to help people with Parkinson’s disease improve communication. Spensa Technologies, which develops pest management platforms and devices, has received $515,000.
In all, the Foundry Investment Fund has helped 10 startups and one academic school.
Cook Group Chairman Steve Ferguson calls the partnership "a wonderful example of how two entities can work together for a common good,"