Fluorescent probes comprise a $3.1B market, with quantum dots (QDs) forming an increasing share. With photostability superior to that of fluorescent dyes QDs have made a significant impact in biomedical imaging. However, despite their success, customers have identified three limitations in QD use: (1) insufficient brightness, (2) instability in harsh environments, particularly exposure to UV or laser illumination typical of many biological experiments, and (3) "blinking", an intermittent loss of fluorescence that limits application in single molecule tracking. The MultiDot technology, developed at Ohio State University under 4 separate NSF grants, can potentially address these challenges. MultiDots are composite QDs, similar in size to commercial QDs, but displaying 5 times the brightness, dramatically increased stability, and reduced blinking compared to commercial particles.
The MultiDot has significant commercial potential, most notably in the biomedical imaging and diagnostic point-of-care test markets, which offer initial market entry points. The primary outcome of the I-Corps program will be market research and product development toward those markets, with the goal of (1) a go/no go decision, and if applicable, (2) identification of minimum customer-desired features and development and testing of a product with those features and (3) development of a business plan for appropriate markets. Because the MultiDots can be seamlessly substituted for QD competitors, it is anticipated that MultiDots could enter the market within a year. Additionally, this research will permit critical validation experiments to be performed that will enhance licensing potential. If successful, this research will not only advance the commercialization of the MultiDot technology, but will also provide a new method of large scale nanomanufacturing that can potentially be applied to other nanocomposites.
Summary: The purpose of this award was to examine the commercialization potential of the MultiDot technology invented at the Ohio State University and funded by the National Science Foundation. The MultiDot technology is a nanotechnology-based platform consisting of semiconductor quantum dot nanoparticles encapsulated in a proprietary coating that increases their brightness and stability. Quantum dots have been previously used in applications related to optics and imaging, primarily because of their unique fluorescent properties. In comparison to fluorescent dyes, quantum dots are brighter; they last longer; and they permit more colors to be imaged at the same time. The MultiDot technology improves upon current quantum dots by increasing brightness further and also by addressing a stability issue that results from the transfer of these materials from organic (oil-based) reagents into water-based reagents required for biological work. Intellectual Merit: We evaluated the potential of MultiDots to be used for biomedical imaging, pathological imaging, point of care diagnostics assays, and optoelectronics using the ICorp program methodology. Specifically, 87 customers ranging from corporate users that would integrate our product with theirs, distributors, bundlers that would include our product with theirs, and end-users were interviewed. From these interviews, we rapidly concluded that the biomedical research market alone (~$18M) was not a viable target for the MultiDot. Additionally, we determined that because of gaps in our product line and expertise, the MultiDot is not currently suitable for applications in energy and lighting. Therefore, we chose to concentrate our efforts on the $500M pathology market, which did show a substantial interest in the MultiDot technology. Broader Impacts: Based on these interviews, we formed a company, Core Quantum Technologies (CQT), to commercialize the MultiDot technology for the pathology market. We have raised over $400k in private, state, and federal dollars to support this process, including an NSF Phase I SBIR. CQT currently employees 3 individuals and expects to begin sales in Q3 or Q4 of 2013. CQT is also in the process of negotiating with several suppliers and distributors, which could eventually lead to product bundling deals or white label marketing of this product. This grant also supported student education in entrepreneurship. Gang Ruan, the entrepreneurial lead of this award, is a co-founder of CQT and recently accepted a faculty position in Biomedical Engineering at Nanjing University, China. Gang is working with the Ohio State University to initiate collaborations between the US and China in engineering and commercialization. In terms of direct benefits to the general public, this product would primarily be used in pathological testing (i.e., liquid and solid biopsy evaluation). Because of the unique MultiDot properties enabled by nanotechnology, there are several direct benefits to the patient: (1) smaller samples may be required to obtain the same information because multiple targets can be stained on the same sample; (2) disease may be detected sooner because of increased signal (brightness); (3) testing costs may decline because the product has an increased shelf-life.
