We propose to establish a NIH Research Evaluation and Commercialization (REACH) HUB at the University of Minnesota by implementing market-focused project management process enabling early stage technology development, including the ability to make rapid progress to terminate further development and reallocate resources. The goal of our proposed activities is to establish novel partnerships, strengthen existing alliances, and create systematic and impactful changes that will move breakthrough innovations more rapidly to products benefitting healthcare and the larger society. Unique to the University of Minnesota's is our advantage, which builds upon pre-existing REACH-like structures which rely upon business and industry expert individualized and team coaching, which aids faculty in designing commercially realistic developmental pathways and appropriately timed commercial partnerships and hand-offs to provide critical mid-stage skills transfer. Providing faculty with a system of educational tools, industry experts, attractive technology transfer agreements tailored to Try-it; Buy-it and Partner-It commercial agreements offers well-designed one-stop shop for commercialization with partnering. University of Minnesota will be first a regional and later a National center for technology commercialization and adoption. The track record of the University of Minnesota Technology Transfer Office and newly designed MN-IP (incentivized and inducement-like financial terms) are meant to attract industry sponsors much earlier than historically realized. University of Minnesota MN-IP has attracted more than 100 commercial partnerships in the last two years, at a point in technology development when previously few would entertain industrial sponsorship. Early transfer can bridge the so-called, `valley-of-death' of early stage technologies. These business changes offer a best path forward to commercial partnering and reduced the burden of licensing and demonstrates institutional commitment MIN-REACH builds upon a foundation of existing pre-commercial programs at the UMN for both medical devices and drugs. The UMN funds and staffs multi-disciplinary programs aiding faculty to commercialize medical device and drug inventions. Our secret to success will be in our systems and people educated and already working in commercialization of University projects. We envision the MIN-REACH as another step toward further focusing and integrating our capabilities and resources into a synergistic platform for rapid and efficient commercialization of biomedical discoveries
Muscoplat, Charles C. NARRATIVE Accelerating medical innovation via REACH offers financial rewards to healthcare providers, consumers, companies providing new products, which offer improved clinical outcomes, patient satisfaction, and reducing the cost of healthcare delivery. The economic impact of the above is compounded by reducing the healthcare costs to the economy, improved productivity and patient well-being. 0925-0001/0002 (Rev. 08/12) Page Continuation Format Page
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