The University of Pittsburgh and the University of Pittsburgh Medical Center (UPMC) have entered into an agreement designed to accelerate the commercialization of intellectual property arising from the research activity of university faculty. The partnership is intended to speed the commercialization of new medical technologies and services, offering the dual benefits of bringing medical advances to the public more rapidly and supporting new business startups, with the accompanying economic benefits for the region, according to a release.

This agreement is part of UPMC’s long-time strategy of commercializing innovation to improve patient care while generating revenue to reinvest in its world-class healthcare and research and in the communities it serves. In addition, the collaborative effort draws on the strengths of both institutions in commercializing new technologies and extends the robust research collaboration between Pitt and UPMC. The terms of each type of commercialization, such as royalties and licensing, have been negotiated in advance, allowing for a smoother and quicker transition from research to commercialization. Representatives from both partners will meet regularly to discuss research projects underway and medical needs based on clinical experience. The first technology to be licensed by UPMC Enterprises under the agreement is a genetic discovery that is leading to a highly accurate test for aggressive prostate cancer that could identify whether treatment is needed. UPMC Enterprises, the arm of UPMC responsible for identifying and commercializing healthcare technologies and services, will work closely with Pitt’s Innovation Institute to consistently translate Pitt research in the earliest stages into new products and companies. The agreement is not limited to any particular research area, nor is it exclusive for either partner.