The University of Manchester and its intellectual property commercialisation company (UMIP) has signed an agreement with the Johnson & Johnson Corporate Office of Science and Technology (COSAT) to establish a proof-of-principle (PoP) Fund.
COSAT was established in 1978 to foster a long-standing focus on innovation and entrepreneurship by supporting and creating access to breakthrough science and technologies.
The Fund will allow scientists at the University to submit ideas with the promise of having a positive impact on human health. It will lead to projects that explore how new technological approaches, such as regenerative medicine, will impact the treatment of such chronic conditions as Alzheimer’s and diabetes as well as to the generation of new diagnostic markers and medical devices and materials which may help manage disease and wellness.
Successful projects could, post proof-of-principle and further development, be taken to market. This augments the University’s capability for funding innovative projects beyond spin-outs, which is already underpinned by the UMIP Premier Find (UPF).
Professor Rod Coombs, Vice-President for Innovation and Economic Development at The University of Manchester, said: "This fund will prove invaluable for scientists as they look to take their research to new levels and could lead to new technology platforms which will underpin new therapies. We are delighted that COSAT has chosen Manchester as a centre of excellence."
Clive Rowland, Chief Executive Officer of UMIP, said: "This agreement will allow scientists to make major strides forward in their research as well as help them to develop that research into products with commercial potential. UMIP will make decisions on how to distribute the fund, based on the commercial case of each individual submission."
Joe Smith, COSAT, and Prof Rod Coombs
Technology Transfer; IP commercialisation
| 
