The Vanderbilt University Center for Technology Transfer and Commercialization (CTTC) reported a banner year in fiscal 2022.
As noted in this news release, CTTC generated more than $100 million in licensing revenue – quadruple its annual average – and reviewed more than 1,000 material transfer agreements and facilitated nearly 300 U.S. patent applications in the 2022 fiscal year. The past year’s revenues total (calculated on an accrual basis) is the largest annual amount generated through technology licensing since CTTC’s establishment in 1991 and greater than the previous six years combined.
“A source of pride is that the substantial increase in revenues for the past fiscal year arose from multiple sources,” said Alan Bentley, Assistant Vice Chancellor of CTTC. “We closed our largest upfront licensing transaction in our history, negotiated substantial payments due from back royalties, prevailed in a dispute and benefited from a new product hitting the marketplace.”
Revenues were generated from transactions based on technologies developed both at Vanderbilt and VUMC.
“Commercialization and entrepreneurship amplify and accelerate the impact of Vanderbilt research and scholarship, allowing the university to provide direct, deeply transformative and scalable benefits to society,” Chancellor Daniel Diermeier said. “We are proud to be fostering a culture where trans-institutional collaboration and innovation are top priorities.”