The recently created Bioengineering Innovation and Commercialization Program (BICP) will be lead in partnership by the Biomedical Engineering Society (BMES) of the University of Pittsburgh and the Pittsburgh Life Sciences Greenhouse (PLSG). The BICP has been established to help expose, educate, and implement commercial thinking into both early- and late-stage research and development. The initiative will target hundreds of bioengineering graduate students and faculty that otherwise do not self-select for commercializing their biomedical innovations. The initiative will increase introduction to some of the world's leading research and development in medical devices, therapeutics, information technology, diagnostics, and regenerative medicine for the purposes of exploring commercialization and market potential.
Pitt’s BMES is a student-driven organization dedicated to promoting academic, ethical, and professional excellence in the bioengineering field. Bioengineers are trained across mathematical sciences, chemistry, biophysics, and medicine in order to advance scientific knowledge from the nano-scale to molecular, cellular, organ, and systems-based perspectives. The BMES is creating world-renown scientific discoveries in biologic therapeutics, bio-materials, medical devices, cellular and molecular pathology diagnostics, and life sciences information technology through the mentorship and expertise of the University of Pittsburgh faculty.
"The BICP is poised to expand the Bioengineering Department's already stellar reputation for scientific innovation. I encourage students to explore what this program has to offer," said Dr. Arthur Levine, Senior Vice Chancellor for the Health Sciences, and Dean, School of Medicine, University of Pittsburgh.
"We are very pleased to begin a ground-breaking initiative with the Biomedical Engineering Society of the University of Pittsburgh," said PLSG President and CEO John W. Manzetti. "The Bioengineering Innovation and Commercialization Program will allow PLSG to gain access to deep knowledge about the world-class research and development that is being performed within the University of Pittsburgh's Bioengineering Department." Mr. Manzetti continued, "By introducing students and researchers to our Executives-in-Residence, industry experts, and business growth programs, we can help accelerate the commercialization potential of university innovations which will facilitate new company formation and out-licensing opportunities."
The PLSG invests in and supports the growth of biosciences companies in western Pennsylvania. PLSG has a track record of excellence when it comes to attracting and growing life sciences companies in the region. Since its inception in 2001, PLSG has assisted 332 life sciences companies and has helped create or retain nearly 6,000 jobs in western Pennsylvania. Thirty-four companies have been provided with office or laboratory space and 13 have been relocated to Pittsburgh from outside of the region. In addition, the PLSG has invested $16.9 million in 63 companies which has leveraged $624 million in additional capital to the region.
Illustration: The Biomedical Engineering Society and the Pittsburgh Life Sciences Greenhouse.
Pittsburgh Life Sciences Greenhouse News Release (06/10/11)
PR Newswire (06/10/11)
Pittsburgh Business Times (06/10/11)
Pittsburgh Tribune-Review (06/11/11)
Pittsburgh Post-Gazette (06/11/11)
University of Pittsburgh Department of Bioengineering
Pittsburgh Life Sciences Greenhouse