By partnering with Open Therapeutics, together we can establish a comprehensive model to maximize the potential of the entire portfolio versus the less than one percent that CAI seeks to advance.
Minneapolis, MN and Bethesda, MD (PRWEB)
April 20, 2017
Open Therapeutics and the Center for Advancing Innovation announce the formation of a unique intellectual property (IP) sharing and commercialization model.
The Center for Advancing Innovation helps institutions maximize the commercialization potential of their most promising inventions. A main component of this effort is bringing the IP to the attention of the entrepreneurial community and potential investors. With a novel model of wrapping challenges and accelerator programs around the IP, CAI is able to fast-track IP to markets.
Conversely, Open Therapeutics helps institutions make value of their underperforming IP. This is done by crowdsourcing global researchers around the underperforming IP within its free web-based collaboration platform, Therapoid™. Analytics from the IP is then provided, for free, back to the IP-providing institution.
According to Jason E. Barkeloo, Founder and Executive Chairman of Open Therapeutics, “CAI has proven an unparalleled ability to creatively and quickly advance commercially viable IP by launching strong startups through a challenge model. We are pleased to offer another level of value. Though IP may not be pursued for a number of reasons from CAI’s challenges, including financial, value may be discovered when assessed and advanced by many different scientists. Not only will we promote CAI’s challenges to the scientists within Therapoid, our network can be a source of Chief Science Officers to assist the CAI entrepreneurial startups. In addition, having the under-utilized IP on Open Therapeutics’ platform also promotes the brand of the IP provider on an international basis.”
According to Rosemarie Truman, CEO of CAI, “CAI is working with over 170,000 federally-funded inventions; yet, less than one percent of these inventions meet our rigorous commercial viability due diligence criteria. The inventions we evaluate, yet leave on the shelf, could have enormous impact on public health. By partnering with Open Therapeutics, together we can establish a comprehensive model to maximize the potential of the entire portfolio versus the less than one percent that CAI seeks to advance.”
About Open Therapeutics LLC
Open Therapeutics (http://OpenTherapeutics.org) is a crowdsourcing life science firm that creates and attracts therapeutic biotechnologies and crowdsources them for the global scientific community. The global research community can freely access the biotechnologies and funding to further the development of the biotechnologies at Therapoid™ (