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Kyriacos A. Athanasiou

Kyriacos A. Athanasiou. The road ahead must forge through research & commercialization Cyprus Entrepreneurship Competition , Nicosia, Cyprus December 17 , 2003. President, Biomedical Engineering Society Professor, Bioengineering, Rice University

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Kyriacos A. Athanasiou

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  1. Kyriacos A. Athanasiou The road ahead must forge through research & commercialization Cyprus Entrepreneurship Competition, Nicosia, Cyprus December 17, 2003 President, Biomedical Engineering Society Professor, Bioengineering, Rice University Adj. Professor, Orthopaedics, Univ. of Texas Houston Adj. Professor, Oral & Maxillofacial Surgery, Univ. of Texas Houston Founder, OsteoBiologics, Inc. Founder, Xilas Medical, Inc. Founder, VidaCare, Corp. Founder, CyTex, Ltd.

  2. OUTLINE • Traditional technology transfer paradigm (e.g., OsteoBiologics, Xilas, VidaCare, CyTex) • A novel approach for commercialization • Proposal for establishment of a research institute in Cyprus

  3. Technology transfer paradigmMODUS OPERANDI New technology Academic research New company

  4. University-based research leads to an orthopaedic company

  5. Applied research leads to a diabetes company

  6. VidaCare Corporation University-based research leads to an emergency care medical company

  7. A company with anti-cholesterol product (natural cocktail of statins)

  8. Technology transfer paradigmPROPOSED Development Corporation Centres of Excellence in Applied Research New technology New companies

  9. INSTITUTE What do I propose? Centre of Excellence non-profit Development Corporation business

  10. The underlying principles • Each centre should be based on the pursuit of applied research with commercializable potential • Centres should be created around particular people – not areas • The human factor should be the underpinning of this effort

  11. Cyprus Biomedical Institute • A Centre of Excellence in biomedical research – applied research • Along with a Development Corporation for technology commercialization • Areas of concentration: Orthopaedic, Musculoskeletal Tissue Engineering (orthopaedics and maxillofacial), Cardiovascular, and Diabetes • Disclaimer

  12. The Institute:A highly focused effort Examples of new technologies: • Biodegradable materials used in orthopaedic applications • Regeneration of articular cartilage and the meniscus • Devices related to the prevention of diabetes effects on the lower extremity • Reduction of blood lipids (e.g., cholesterol and triglycerides)

  13. The Centre of Excellence • A traditional, not-for-profit conduit of applied research in few biomedical areas • Members as research associates – Centre’s key leaders joint academic appointments • Attract outstanding graduate students and fellows from all over the world – primarily from the University of Cyprus • Studies: publishable in prestigious, peer-reviewed journals • Competitive and vigorous pursuit of research grants

  14. Engineered articular cartilage

  15. Scaffolds for meniscus regeneration

  16. The Development Corporation • Business direction; investment fund • Evaluation of research results with commercialization in mind • Small team (2-3 people) with deep understanding of entire process • Clear exit strategy aimed at maximizing returns to investment • 5 years: financial benefits, if mature technologies selected • Arduous and failure prone process -- one or two success stories… Success breeds success

  17. BIOMEDICAL INSTITUTE (President, management team) Centre of Excellence non-profit academic organization Lab 4 Lab 1 Lab 3 Lab 2 Scientific Advisory Board Board of Directors Development Corporation business entity

  18. Success criteria • Dual mission of Institute: • Act as a repository of research projects at the cutting edge of applied biomedicine • Few, well-respected, outstanding, pre-selected people • Only a few biomedical areas • Active laboratories • Competitive grants • Work presented at international forums • Be a financial success • Self-sustained • One financially and commercially viable company

  19. THE PLAN • People-centred Institute • Focused & sustained effort • Applied research in Cyprus recognized to be on par with that of best centres in the world • Change perception of Cyprus as lacking innovative, biomedical industry • Convince investors that Cyprus is a suitable place for investment in biomedicine • Be a financial success • Diversification of the Cyprus economy

  20. Musculoskeletal Bioengineering

  21. Funding from: National Institutes of Health, NHTSA, Binational Science Foundation, Arthritis Foundation, Whitaker Foundation, Industrial sources (Arthrex, OsteoBiologics, DePuy, Nutramax, VidaCare, Xilas)

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