The goal of the Partnership is to position promising biomedical technologies for licensing to commercial partners who will continue to develop solutions to improve patient care and address underserved healthcare needs. This commercial licensee could be a well-established company or a start-up with a strong ability to raise funds.
This is accomplished by de-risking proposed projects, bringing in experts to help inform regulatory strategy, working closely with intellectual property counsel, identifying and engaging early with partners that possess product development capabilities, and carrying out specific, determinative experiments in a disciplined, managed process. This approach is based on similar approaches used widely in industry.
Funded teams are expected to report quarterly on progress toward technical and business milestones. Additionally, semi-weekly working meetings and cooperation with technology transfer and marketing-related activities are required. Funded teams are expected to work with their commercialization teams as active partners.