Milken Institute Study Confirms Vital Role of Technology Transfer in Biotechnology Globally, Says BIO
WASHINGTON, D.C. (September 20, 2006) –The Milken Institute study released today entitled “Mind-to-Market: A Global Analysis of University Biotechnology Technology Transfer and Commercialization” reaffirms the critical role of technology transfer in the development of the biotechnology industry worldwide, said Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood. The study also underscores the significant role of university research in biotechnology product development as well as the role of those universities in growing the biotechnology industry.
“While universities in the United States have clearly set the standard in commercializing research, this report indicates that other countries, particularly in Europe and Asia, have recognized the role of universities in spurring the biotechnology industry,” Greenwood stated. “In order for the U.S. to maintain its leadership and to encourage the transfer of innovative research to the private sector, and ultimately to patients and other consumers, we must ensure strong intellectual property protection and robust funding for universities and their technology transfer offices.”
“A key ingredient for biotech clusters throughout the country is strong research universities, as demonstrated in Boston, MA and San Francisco, CA. As Amgen and Genentech began as start-up firms commercializing technology discovered by university research, so will future generations of the biotechnology industry,” Greenwood continued. “Universities will be key partners in efforts in all fifty states to attract and stimulate a local biotechnology industry.”
“BIO remains committed to advancing technology transfer and exploring other ways the private sector can bring needed biotechnology products to market more quickly and efficiently,” stated Greenwood.
The study is available on the Milken Institute’s website at http://www.milkeninstitute.org/publications/publications.taf?function=detail&ID=576&cat=ResRep .
BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and 31 other nations. BIO members are involved in the research and development of healthcare, agricultural, industrial and environmental biotechnology products. www.bio.org