The technology transfer organization for the Medical University of South Carolina, the MUSC Foundation for Research Development, and Cumberland Emerging Technologies Inc. have entered into a collaboration agreement to develop new biomedical products.
Consistent with their longstanding commitment to biomedical innovation and translational research, CET and the MUSC Foundation for Research Development have agreed to collaborate on future co-development programs that combine the strengths of each institution with the goal of advancing new technology to clinical practice. Under the agreement, CET will evaluate MUSC discoveries, license intellectual property rights to promising technologies, and partner with MUSC research scientists to advance product development toward commercialization. CET will pursue new sources of funding for these projects through the Small Business Technology Transfer and Small Business Innovation Research and other grant programs. New development programs are expected to span a variety of therapeutic areas including oncology, inflammatory diseases, and cardiovascular disease.
"Our office receives over 100 product ideas a year, most of which require an industry partner to be further developed," said Michael Rusnak, the executive director of the MUSC Foundation for Research Development. "We are very enthusiastic about having Cumberland as a collaborator to aid in getting technologies to market and ultimately to the patient."
"We are very pleased to have the opportunity to partner with the MUSC Foundation for Research Development to develop technologies invented at MUSC, a nationally-recognized biomedical research institution," said A.J. Kazimi, chief executive officer of Cumberland Pharmaceuticals and CET. "We are excited to facilitate the introduction of promising new products by combining our expertise in drug development and commercialization with the MUSC's research initiatives."