Khkhkhkhkhkhkhkhkh Kyriacos A. Athanasiou President, Biomedical Engineering Society Professor,...
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Kyriacos A. Athanasiou President, Biomedical Engineering Society Professor, Bioengineering, Rice University Adj. Professor, Orthopaedics, Univ. of Texas Houston Adj. Professor, Oral & Maxillofacial Surgery, Univ. of Texas Houston Founder, OsteoBiologics, Inc. Founder, Xilas Medical, Inc. Founder, VidaCare, Corp. Founder, CyTex, Ltd. T he road ahead must forge through research & commercialization Cyprus Entrepreneurship Competition , Nicosia, Cyprus December 17, 2003
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Transcript of Khkhkhkhkhkhkhkhkh Kyriacos A. Athanasiou President, Biomedical Engineering Society Professor,...
Kyriacos A. AthanasiouPresident, Biomedical Engineering SocietyProfessor, Bioengineering, Rice UniversityAdj. Professor, Orthopaedics, Univ. of
Texas HoustonAdj. Professor, Oral & Maxillofacial
Surgery, Univ. of Texas Houston
Founder, OsteoBiologics, Inc.Founder, Xilas Medical, Inc.Founder, VidaCare, Corp.Founder, CyTex, Ltd.
The road ahead must forge
through research &
commercialization
Cyprus Entrepreneurship Competition,
Nicosia, Cyprus
December 17, 2003
• Traditional technology transfer paradigm (e.g., OsteoBiologics, Xilas, VidaCare, CyTex)
• A novel approach for commercialization
• Proposal for establishment of a research institute in Cyprus
OUTLINE
Technology transfer paradigmMODUS OPERANDI
New
technology
New
company
Academic
research
University-based research leads to an orthopaedic company
Applied research leads to a diabetes company
VidaCare Corporation
University-based research leads to an emergency care medical
company
A company with anti-cholesterol product (natural cocktail of
statins)
Newtechnology
Technology transfer paradigmPROPOSED
New companies
Centres of Excellence in Applied Research
Development
Corporation
What do I propose?
INSTITUTE
Centre of Excellence
non-profit
Development Corporation
business
•Each centre should be based on the pursuit of applied research with commercializable potential
•Centres should be created around particular people – not areas
•The human factor should be the underpinning of this effort
The underlying principles
• A Centre of Excellence in biomedical research – applied research
• Along with a Development Corporation for technology commercialization
• Areas of concentration: Orthopaedic, Musculoskeletal Tissue Engineering (orthopaedics and maxillofacial), Cardiovascular, and Diabetes
• Disclaimer
Cyprus Biomedical Institute
Examples of new technologies:
• Biodegradable materials used in orthopaedic applications
• Regeneration of articular cartilage and the meniscus
• Devices related to the prevention of diabetes effects on the lower extremity
• Reduction of blood lipids (e.g., cholesterol and triglycerides)
The Institute:A highly focused effort
The Centre of Excellence• A traditional, not-for-profit conduit of applied research in few biomedical areas
• Members as research associates – Centre’s key leaders joint academic appointments
• Attract outstanding graduate students and fellows from all over the world – primarily from the University of Cyprus
• Studies: publishable in prestigious, peer-reviewed journals
• Competitive and vigorous pursuit of research grants
Engineered articular cartilage
Scaffolds for meniscus regeneration
The Development Corporation• Business direction; investment fund • Evaluation of research results with
commercialization in mind• Small team (2-3 people) with deep
understanding of entire process • Clear exit strategy aimed at maximizing
returns to investment• 5 years: financial benefits, if mature
technologies selected • Arduous and failure prone process --
one or two success stories… Success breeds success
BIOMEDICAL INSTITUTE(President, management team)
Development Corporation
business entity
Scientific Advisory Board
Board of Directors
Centre of Excellence
non-profit academic organization
Lab 1 Lab 2 Lab 3Lab 4
• Dual mission of Institute:
• Act as a repository of research projects at the cutting edge of applied biomedicine•Few, well-respected, outstanding, pre-selected people•Only a few biomedical areas•Active laboratories •Competitive grants•Work presented at international forums
• Be a financial success•Self-sustained•One financially and commercially viable company
Success criteria
THE PLAN• People-centred Institute• Focused & sustained effort• Applied research in Cyprus recognized to be on par with that of best centres in the world
• Change perception of Cyprus as lacking innovative, biomedical industry
• Convince investors that Cyprus is a suitable place for investment in biomedicine
• Be a financial success• Diversification of the Cyprus economy
Musculoskeletal Bioengineering
National Institutes of Health, NHTSA, Binational Science Foundation, Arthritis Foundation, Whitaker Foundation, Industrial sources (Arthrex, OsteoBiologics, DePuy, Nutramax, VidaCare, Xilas)
Funding from:
