December 18, 2009

Alfred Mann Institute at Purdue University relocates to new campus home

AMIPurdue, which was established through an affiliation agreement with the Purdue Research Foundation and a $100 million endowment by Alfred E. Mann, began operations on January 1, 2008. AMIPurdue recently moved to its permanent home in the Discovery Learning Research Center.

"AMIPurdue is a resource for helping to translate innovative life science ideas that result from the creative minds of both faculty and students at Purdue University into products that will benefit mankind," said John C. Hertig, AMIPurdue executive director. "Our mission is to help Purdue technologies cross the 'valley of death' and not be forgotten in laboratories, but rather be commercialized in order to improve patient outcomes."

AMIPurdue funds projects in the early stages of development through seed funding. The funding provides additional support to faculty working on high-potential projects in life sciences that institute officials believe can provide resources to facilitate rapid commercialization. The funding is available within several weeks after a faculty presentation to the AMIPurdue team.

Since it was established, AMIPurdue has invested more than $2.5 million in direct expenses involving nine Purdue technologies, including four that are in their second round of funding. AMIPurdue also has contributed more than $800,000 to intellectual property filings, regulatory pathway strategies, up-front marketing and other business planning elements. Two AMIPurdue technologies were entered into the Purdue Life Sciences Business Plan Competition, held in mid-November at the university's Burton D. Morgan Center for Entrepreneurship. Glytrix Inc. placed third in the competition and BioRegeneration Technologies finished fourth. Both are spin-out companies sponsored by AMIPurdue.

AMIPurdue has sponsored internships with Purdue's Krannert School of Management as well as Interns for Indiana, sponsored the Purdue Research Park Entrepreneurship Academy, and hosted an SBIR/STTR workshop for Purdue faculty. AMIPurdue project funding also has supported the development of four technologies that helped four Purdue students earn their doctoral degrees.

Hertig expects AMIPurdue to continue to have a strong connection with Purdue for years to come.

"As a Purdue alumnus, I have a very strong emotional commitment to Purdue and its faculty and students," he said. "I believe Purdue has been given an opportunity by Al Mann, with his endowment and financial support, to demonstrate the creation of a new model helping to translate great ideas generated by higher-education laboratories into medical products providing real value. The AMIPurdue team is completely focused on supporting that vision."

Mann, who is a successful serial medical device entrepreneur and prominent philanthropist, has established a new model of technology transfer through the Alfred E. Mann Foundation for Biomedical Engineering, which builds a bridge between academia and industry to move health-related products to doctors and their patients in an accelerated and industry-inspired and industry-focused process. In 2007 Mann was named the 12th most generous philanthropist out of 50 individuals ranked in the United States in a study conducted by Business Week magazine.

About the Alfred E. Mann Foundation for Biomedical Engineering

The Alfred Mann Foundation for Biomedical Engineering is a philanthropic organization that establishes and supports university-based institutes for biomedical product development. It has the primary goal of expediting the commercialization of compelling life science technology for the benefit of mankind. The foundation is located in Valencia, Calif., which is north of Los Angeles.

About the Purdue Research Foundation

The Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. The foundation accepts gifts; administers trusts; funds research, scholarships and grants; acquires property; and negotiates research contracts on behalf of Purdue. In the 1990s, the foundation was charged with helping the university in the realm of economic development. The Purdue Research Foundation oversees the Purdue Research Park, which is the largest university-affiliated business incubator in the country. In addition to the Purdue Research Park in West Lafayette, the foundation has established or is currently constructing technology parks in other locations around Indiana that include Merrillville, New Albany and Indianapolis.

To the Purdue Research Park, https://www.purdueresearchpark.com

Purdue Research Foundation contact:
Steve Martin, 765-588-3342, sgmartin@prf.org

Sources:
John C. Hertig, 765-494-7200, jhertig@amipurdue.org

Steve Mogensen, 765-494-8316, smogensen@amipurdue.org