September 5, 2012
Ohio University ranks first among Ohio institutions of higher education for research licensing revenue, with faculty inventions generating $8.6 million during fiscal year 2011.
Ohio University also ranks fourth in the nation after Princeton University, Northwestern University and New York University for return on investment in research. The institution reported a 29.7 percent return on investment on $30.9 million in research expenditures in fiscal year 2011.
Most of the revenue stems from an Ohio University license to the Pfizer corporation for a growth hormone receptor antagonist discovered by Edison Biotechnology Institute scientist John Kopchick and former graduate student Wen Chen in 1987. The technology has been developed into a drug marketed by the pharmaceutical company as SOMAVERT® (pegvisomant for injection). SOMAVERT® is a therapeutic for patients with acromegaly, a form of gigantism that leads to medical complications and premature death in adults.
Ohio University reinvests the licensing revenue in biomedical research initiatives, academic programs and technology commercialization efforts.
“The success of our licensing agreements allows Ohio University to support the development of additional technologies that can benefit public health and wellness and create new companies and jobs for the state of Ohio,” said Joseph Shields, vice president for research and creative activity and dean of the Graduate College at Ohio University.
The university’s licensing revenue has increased steadily over the past five years. In 2006, the institution reported $3.2 million in income.
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