Technology Commercialization More Than Doubles Revenue-Producing Agreements
The past 12 months marked a record-setting period for the Office of Technology Commercialization at Nationwide Children’s Hospital. The office managed 78 disclosures during the year involving the collaboration of more than 90 different inventors. It executed 18 new revenue-producing deals, a 150 percent increase over the previous year, with a total revenue of over $36 Million. In total, the office received revenue from 29 different agreements, a 170 percent increase over 2016.
Among the new commercialization funding mechanisms implemented was a state-awarded Technology Validation Startup Fund grant to support the de-risking of unlicensed technologies. The office has given four awards from this fund to date. The Nationwide Children’s-directed Rev1 Life Science Fund accelerated the advancement of technologies developed here as well. This fund was used for seed funding, helping catalyze the launch of Nationwide Children’s startup companies.
The newest startups, launched with these or other funds, include:
Little Seed, LLC, formed in Powell, Ohio, with the goal of delivering clinically driven, evidence-based fun to pediatric patients. The foundational technology, Voxel Bay, was developed by a team of clinicians and game designers at Nationwide Children’s. Voxel Bay provides interactive virtual reality designed to distract and calm children undergoing uncomfortable medical procedures. The platform is expanding to include other virtual environments and games tailored to specific needs within the pediatric environment.
LYST Therapeutics, based in Columbus, was founded to develop a platform technology for treatment of fibrotic diseases. The technology, invented by researchers in the Center for Regenerative Medicine at Nationwide Children’s, is a novel immunomodulatory therapeutic antibody, and has potential applications in treating stenosis, myocardial infarction and other conditions involving fibrosis.
Scioto Biosciences was founded to develop treatments for diseases associated with microbial dysimbiosis. The technology platform, developed by researchers and clinicians at Nationwide Children’s, is a novel formulation that primes the colony-forming mechanisms of probiotic bacteria by combining beneficial bacteria with polysaccharide microspheres. These natural mechanisms induce “biofilm” formation, enhance probiotic function, and allow non-spore forming bacteria to survive passage through the gastrointestinal system.