Purdue News
Purdue NewsFebruary 9, 1998
The agreement strengthens the existing synergy between Purdue and Bioanalytical Systems and addresses joint research, education, training and future expansion of the partnership.
Bioanalytical Systems was started with $365 by Purdue chemistry Professor Peter Kissinger in 1974. Since then the company, which manufactures instrumentation, develops software and provides services for biomedical and chemical research, has grown into a public company with more than 200 employees and $16 million in sales.
"This partnership is the formalization of a long-standing relationship among colleagues and friends that has grown as Bioanalytical Systems has grown," said Purdue President Steven C. Beering. "By signing this agreement, we've taken the next evolutionary step beyond conventional university support for start-up businesses.
"Traditionally, small businesses have not been able to partner with universities because of very limited research budgets. But this agreement is an example of how both parties can benefit from and leverage the other's intellectual capital for research funding and real employment and educational opportunities. And it's one of the many efforts by Purdue to support state and regional economic development.
"It is our hope that this specific relationship will help us in developing new models to assist small, high-technology, businesses."
The agreement will help both partners attract government grants. Bioanalytical Systems will have access to Purdue facilities, including equipment, laboratories, animal facilities and information services. Company employees also will benefit from interacting and collaborating with Purdue faculty, staff and students.
It gives Purdue access to Bioanalytical Systems facilities and equipment for training and workshops. Purdue also gains employment opportunities for students.
The partnership allows Purdue and Bioanalytical Systems to take advantage of each other's special capabilities and provides leverage for additional government research grants. To date, grants have come from the National Science Foundation, the National Institutes of Health and NASA, and projects have involved areas such as the School of Veterinary Medicine and the Department of Chemistry. Plans are under way to develop projects with the School of Pharmacy, the Departments of Biology and Psychology, and the Environmental Research and Engineering Institute.
In the early days of Bioanalytical Systems, Kissinger and his staff worked part-time out of his and his co-workers' apartments and eventually out of Kissinger's garage. First-year sales were around $17,000.
In 1979, Bioanalytical Systems moved into its own building at the Purdue Research Park, a business incubator site. Since then, the company, with help from Purdue, has leveraged a number of Small Business Innovative Research and Small Business Technology Transfer grants totaling more than $2 million. The company's initial public stock offering in November raised $10 million, which will be used to retire debt, expand facilities and increase marketing efforts.
"Taking a historical point of view, Purdue is really a cornerstone of our business," Kissinger said. "Having the university as a neighbor brings us a number of benefits. We are a knowledge-based business. Eighty percent of the BAS staff are college graduates, including 40 Ph.D.s. This is a stimulating place for scientists and engineers to work and learn. Purdue makes it so."
John Schneider, director of the Purdue Office of Industry Research and Technology Programs, is one of the architects of the agreement. Schneider said education remains one of the important parts of the partnership for both Purdue and Bioanalytical Systems.
"It's a win-win situation for both sides," he said. "Purdue faculty and students are exposed to an entrepreneurial approach to business. During co-op and internship opportunities, they learn from scientists who are part of the entire innovation process -- from ideas and research to testing, design, marketing and sales. Likewise, Bioanalytical Systems employees will be able to take Purdue courses and work toward advanced degrees.
"The relationship between Bioanalytical Systems and Purdue that was formalized today clearly demonstrates that the three-way partnership among government, academia and the private sector can lead to the commercialization of innovative products and enhanced economic competitiveness."
Sources: John Schneider (765) 494-0743; e-mail, jaschneider@sps.purdue.edu
Peter Kissinger (765) 463-4527; web, http://www.bioanalytical.com
Writer: Kate Walker (765) 494-2073; e-mail, kate_walker@purdue.edu
Purdue News Service: (765) 494-2096; e-mail, purduenews@purdue.edu
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