Yesterday, we posted an article about the impact that technology transfer at the University of North Carolina at Chapel Hill has. Today, we have details on its neighbor in Durham.
According to this article from WRAL TechWire, Duke University’s Office for Translation and Commercialization (OTC), which manages Duke innovations and licenses them to commercial partners, helped launched 13 new start-ups in FY20-21 and received more than $90 million in revenue from its licensees related to product revenues and company acquisitions. In addition, two companies were acquired (AskBio by Bayer and Phitonex by Thermofisher) and one went public (Inhibikase).
OTC also repoorted that it received 374 invention disclosures and signed 118 agreements with industry partners, 28 of which were exclusive. The office was issued 93 U.S. patents and filed 489 patent applications, up from 455 last year. Ten of the 13 new companies come from the Duke University School of Medicine, two from the Pratt School of Engineering, and one from the Trinity College of Arts and Sciences. This brings the total number of companies created around Duke technologies to 182 since OTC was formed in 1986. About 70 percent of the new start-ups formed this year have a headquarters in North Carolina.