Sunday, October 22, 2006

OHSU research has created 28 bioscience companies

Oregon Health and Science University [OHSU] announced that its research has led to the formation of 28 new bioscience companies since 2000. OHSU said much of the recent activity has grown from a one-time Oregon state investment of 200 million dollars in research that has been supplemented by a private fundraising campaign that has raised nearly 380 million.

IPBiz bets that patent rights have been sorted out in that arrangement, contrary to the current situation with California's CIRM.

One IPBiz reader wrote:

Officials say that's the kind of venture capital needed to attract top talent and generate new ideas.

A) nobody mentioned if any commercial product went out the door, if any of the 28 were profitable. (and I realize, since 2000, that it has been only 6 years. it usually takes 6-10 years for a biotech company to falter, fail, or be swallowed.)

B) Let's see, that averages $20M per company...and $4M per year can keep a company going (about 10-20 people).

In other words, this article is lots of PR, but not much substance...just throw money around, and you can get companies started


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