Arizona State University and the University of Pennsylvania have entered into a formal partnership to help each other commercialize certain technologies, reports Biotech Transfer Week. The collaboration is believed to be the first of its kind in the U.S., according to tech-transfer officials from both universities. If successful, it could serve as a blueprint for similar alliances between other academic institutions, officials said. Under the terms of the agreement, which will initially span a period of three years, each university will provide the other with select technologies with commercialization potential. Employees of the assisting office will then apply their specific expertise to seek out potential commercial avenues for the technologies. In return, each university tech-transfer office will share a percentage of any resulting income received by the other, based on the amount of effort and activity involved in commercializing the technology, ASU and Penn said. Each university also will retain complete ownership of their respective technologies. "That’s one of the incentives," Augustine Cheng, managing director of ASU’s nonprofit tech-transfer affiliate, Arizona Technology Enterprises, told BTW. "If they’re going to spend time commercializing our technologies, there are provisions in the agreement for financial rewards. I would be happy to share revenues with Penn if they were able to commercialize a technology that we couldn’t."
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