News and Events > NewsLetters > Monthly Newsletter: November 2006

Today at the TTO

Fall 2006 Proof of Concept Grant Program Recipients Announced
The TTO completed its Fall 2006 Proof of Concept grant solicitation for both bioscience and non-bioscience projects; overall, 19 projects were selected for funding. The POCg program provides grants that enable advanced development and validation of promising CU technologies that are, or will become, suitable for commercialization.

The State of Colorado Bioscience Discovery Grant Program, created by HB1360, provides matching funds for POC projects related to bioscience. The TTO selected 13 projects using a competitive internal application process combined with presentation to a panel of venture capitalists. Winning proposals totaled $2,129,000, and were sent to the state for review. Bioscience winning proposals included:
­ Stephen Hunsucker, School of Medicine, Department of Pediatrics, UCDHSC. “Protein Biomarkers to Differentially Diagnose Follicular Thyroid Carcinoma and Follicular Thyroid Adenoma.” 
­ Leland Shapiro, School of Medicine, Division of Infectious Diseases, UCDHSC. “Infusion of Alpha-1-Antitrypsin (AAT) to Suppress Human Immunodeficiency Virus Type 1 (HIV) Replication in Patients.” 
­ Steven Anderson, School of Medicine, Department of Pathology, UCDHSC. “Suppression of Irradiation-Induced Salivary Gland Dysfunction by IGF-1.” 
­ Jeffrey Holt, School of Medicine, Department of Pathology, UCDHSC. “Biomarker Enabled Development of PARP Inhibitors for Cancer Therapy.” 
­ Gary Brodsky, School of Medicine, Division of Medical Oncology, UCDHSC. “In-vivo Analysis of a Cardiac and Skeletal Muscle Stem Cell Activator.” 
­ Edward Dempsey, School of Medicine, Cardiovascular Pulmonary Research Laboratory, UCDHSC. “Moving Bryostatin-1 from the Lab to the Clinic for the Treatment of Pulmonary Hypertension.”
­ Robert Hodges, School of Medicine, Department of Biochemistry and Molecular Genetics, UCDHSC. “Applicability of SARS Coronavirus Antibody Technology to Influenza Virus.” 
­ Karen Stevens, School of Medicine, Department of Psychiatry, UCDHSC. “A New Treatment for Ineffectively Treated Schizophrenia Patients: Pre-clinical Validation for Centrally Administered Clozapine.” 
­ Douglas Graham, School of Medicine, Department of Pediatrics, Center for Cancer and Blood Disorders, UCDHSC. “A Novel Biologically Targeted Agent for the Treatment of Non-Small Cell Lung Cancer.”
­ David Ross, School of Pharmacy, Department of Pharmaceutical Sciences, UCDHSC. “Hydroquinone Ansamycin Pro-drugs as Novel Anticancer Hsp90 Inhibitors.” 
­ Tad Koch, Chemistry and Biochemistry, CU-Boulder. “New Targeted Drug for the Treatment of Lung Cancer.”  
­ Christopher Bowman, Chemical and Biochemical Engineering, CU-Boulder. “Redox-Initiated Radical Chain Polymerization for the Detection and Amplification of Biological Recognition Events.” 
­ Michael Larson, Mechanical Engineering, UCCS. “A Device for Laser Fusion of Septal Tissue.”

The TTO provided $101,850 for the funding of 6 non-bioscience POC proposals, with some additional funding conditional on completion of project milestones. Winners outside of bioscience were:
­ Hans-Dieter Seelig, Aerospace Engineering, CU-Boulder. “Sensor systems and methods for the evaluation of water deficit stress in plants.”
­ Josef Michl, Chemistry and Biochemistry, CU-Boulder. “Catalyzed Radical Polymerization.”
­ Rishi Raj, Mechanical Engineering, CU-Boulder. “Ultra-efficient Catalyst for Hydrogen Generation.”
­ Rafael Piestun, Electrical and Computer Engineering, CU-Boulder. “Super-resolution, Compact, Passive Three-Dimensional Imaging System.”
­ Ronggui Yang, Mechanical Engineering, CU-Boulder. “Photonic Crystal Fiber Based Micro Capillary Pumped Loops for Site-Specific Cooling of Electronics.”
­ Terrance E. Boult, Computer Science, UCCS. “Privacy Enhanced Surveillance Camera.”

For more information about the POCg program, contact Rick Silva (UCD/HSC) at rick.silva@cu.edu or Kate Tallman (UCB/UCCS) at kate.tallman@cu.edu. Inventors may also contact their individual case managers.

Fall 2006 Proof of Concept Investment Program Recipients Announced
Two start-up companies that are emerging from CU research have been awarded $100,000 Proof of Concept investments after the Fall 2006 round. The Proof of Concept investment (POCi) program provides early stage "seed" investments to enable the further development and validation of promising CU technologies that are the platform for a start-up company. The POCi recipients were selected by a panel of venture capitalists after oral presentations by the finalists.

­ Mentor Machines, Inc. of Boulder is developing an educational and entertaining software program for teaching children to read.  This interactive “edutainment” program is based on the highly acclaimed Foundations to LiteracyTM (FtL) learning tools developed at CU’s Center for Spoken Language Research.  These tools combine scientifically proven literacy teaching methods, leading speech recognition technology, and a lifelike 3-D animated tutor that provides individualized instruction according to the abilities of each learner.  The efficacy of the FtL approach has been shown in pilot testing in the classroom, but those tools have not been available in a product designed for the home market.  Mentor Machines will use the POCi funds to implement the FtL tools in a prototype product that will engage young and struggling readers by using a video game platform.

­ Jovion Corporation of Boulder has been selected for POCi funding contingent on the satisfactory achievement of certain scientific milestones under a DARPA-funded project based on the technology. Jovion aims to develop and commercialize a device for producing energy from electromagnetic radiation through the incorporation of solar cells.  Work under the DARPA grant is currently underway to demonstrate that the device has net energy output.  If awarded, the POCi funding would cover the design, construction and testing of a practical and scalable energy system.  The Principal Investigator for the DARPA project and a founder of Jovion is Dr. Garret Moddel, Professor in CU-Boulder’s Department of Electrical and Computer Engineering.

For more information about the POCi program, contact Tom Smerdon, Director, New Business Development, at tom.smerdon@cu.edu or 303-735-0621.

CU-Boulder Bioengineering Research Grant Targets Pulmonary Hypertension In Children
A new, multimillion-dollar grant awarded to the University of Colorado by the National Institutes of Health for the study of pulmonary hypertension in children will include the creation of 200 patient-specific computer models that will be used to help refine diagnosis and improve treatment of the life-threatening disease. CU-Boulder mechanical engineering Professor Robin Shandas will lead development of the individualized models, which will be based on three-dimensional imaging combined with computational modeling of the blood flow and mechanics of the pulmonary vascular systems in infants and children.

Shandas has been a member of the CU faculty since 1995 and has directed the NIH Graduate Training Program in Cardiovascular Biomechanics and Imaging since 2003. He splits his time between the Boulder campus and the University of Colorado at Denver and UCDHSC's School of Medicine, where he has a joint appointment in pediatric cardiology and works closely with clinicians at The Children's Hospital. The NIH grant, which is expected to be funded at between $12 million and $14 million over a five-year period, involves five primary investigators who will use a combination of basic science, bioengineering and clinical research approaches to improve understanding of pulmonary hypertension. Shandas is unique among the investigators in bringing a bioengineering approach to the research.

TTO VC Advisor Wins Award from Boulder Chamber of Commerce
Catharine Merigold, co-founder of Boulder VC firm Vista Ventures, was given the Rob Planchard award for exceptional support to the entrepreneurial community. This is the second year the Boulder Chamber has given this award, which was named in honor of the late Rob Planchard, a local attorney who was very involved in the entrepreneurial community. It is given to someone who shares in Planchard's characteristics, his integrity, enthusiasm, energy and enjoyment of the people who surrounded him, says Alice Swanson, the chamber's executive vice president. Merigold — who co-founded Boulder-based Vista Ventures and held previous positions at US West Wireless, the University Technology Corp. and Centennial Funds — was chosen because she embodies that same spirit, Swanson says. "She's worked tirelessly over the last 20 years in building companies and she's very well-known in that community," Swanson says. Vista Ventures is focused on investments in early and growth-stage technology companies, and has worked with the CU TTO to provide advising for start-up companies.

CU Technology and Licensee Companies in the News

CU-Boulder MChip Expected To Help Rapidly Identify Avian Flu Strains
Scientists from the University of Colorado at Boulder and the Centers for Disease Control and Prevention in Atlanta have developed a novel "gene chip" based on a single influenza virus gene that is expected to allow scientists to quickly identify specific flu viruses, including avian influenza H5N1. The team used the gene chip, known as the MChip, to detect H5N1 samples collected over a three-year period from people and animals from diverse locations around the world, said Professor Kathy Rowlen of CU-Boulder's chemistry and biochemistry department, lead author on the study. In tests on 24 H5N1 viral isolates – or samples grown in the laboratory – as well as additional patient samples that tested positive for the common influenza viruses H3N2 and H1N1, the MChip provided accurate information on flu types and subtypes about 97 percent of the time.

Replidyne Founders Honored by Boulder Chamber of Commerce
As news of drug-resistant bacteria spread, Ken Collins and Nebojsa Janjic saw an opportunity. While the larger pharmaceutical companies were focusing on drugs for chronic conditions, Collins and Janjic founded Replidyne Inc. to develop new antibiotics designed to fight this tough bacteria. In recognition of their successes in the biotech industry, Collins and Janjic received an Entrepreneurs of Distinction Award at the Boulder Chamber of Commerce’s 22nd Annual Esprit Entrepreneurs Awards.

Microsemi Makes Forbes’ Top 200 Small Companies
“America’s 200 Best Small Companies” ferrets out the most robust, fundamentally disciplined public outfits with sales between $5 million and $750 million. Microsemi, which designs high-performance circuits and semiconductors, came in at #190. The company’s R&D arm, Microsemi Power Products Group Boulder (formerly Advanced Power Technology Colorado), originated from the 2005 acquisition of PowerSicel, Inc., a company that emerged from the research of Professor Bart Van Zeghbroeck and associates at CU-Boulder.

CU Doctor Sees Fruits of Vaccine Labor
It's a rare researcher who invests years of work in a new treatment and then is able to watch as the treatment not only gains approval, but becomes standard medical practice. Dr. Myron Levin of the University of Colorado is about to become one of the lucky few. Levin, 68, a professor of childhood infectious diseases at the university's medical school, began testing a shingles vaccine in the 1980s. An advisory committee of the federal Centers for Disease Control and Prevention last month recommended that the Levin vaccine - Zostavax - be given to every adult 60 or older to prevent shingles. "I feel very blessed that I could work on something so long and live to see it approved, and I think it will do some good for people," Levin said.

NIH Funds Research at CU to Develop Next Generation Flexible, Digitally-Controlled Endoscope
Quest Product Development, with partner University of Colorado, has completed Phase I research funded by an NIH Small Business Technology Transfer (STTR) grant to develop a “proof of concept” MicroFlex scope, an innovative, ultra-flexible, digitally-controlled endoscope that will allow minimally invasive sinus diagnosis and surgery.  Research was conducted by CU-Boulder professor Dr. Dale Lawrence, inventor of MicroFlex, Dr. Todd Kingdom, Director, Rhinology and Sinus Surgery at the University of Colorado at Denver and UCDHSC's School of Medicine, and a product engineering team from Quest Product Development. An NIH Phase II STTR grant application has been submitted for $992,000, which would fund the development of MicroFlex prototypes and begin testing their capabilities in animal and human studies.

Replidyne, Forest Labs Get Non-approvable Letter From FDA For Faropenem
Replidyne, Inc. and Forest Laboratories, Inc. said on October 23 that the U.S. Food and Drug Administration (FDA) issued a non- approvable letter for oral antibiotic faropenem medoxomil, seeking further clinical studies for all indications. Early in December 2005, biopharmaceutical company Replidyne submitted the new drug application for four adult indications. These filings were based on the results of eleven Phase III clinical trials for these indications and a safety database of more than 5,000 patients treated with faropenem.

The FDA recommended further clinical studies for all indications, but did not raise any safety concerns or chemistry, manufacturing or controls issues related to the product. Replidyne designed its first submission package based on data showing its drugs were equal to existing antibiotics, so-called "noninferiority" trials; this type of trial has lately been called into question by government investigation into the antibiotic Ketek (which has been linked to liver problems). The companies plan to have a discussion with the regulatory body concerning the number of trials required for each indication, and expect at least two years to complete the clinical studies.

Merck to Acquire to Sirna Therapeutics
Pharmaceuticals giant Merck & Co. has agreed to pay $1.1B for Sirna Therapeutics Inc., a gene-technology firm formerly based in Boulder that continues to operate a Boulder facility. The company's research focuses on using RNA interference in drugs to treat illnesses such as macular degeneration and hepatitis B and C.  Sirna was formed 14 years ago in Boulder under the name Ribozyme Pharmaceuticals Inc., an off-shoot of research by Tom Cech, a Nobel Prize-winning chemist formerly with the University of Colorado. Cech discovered ribozymes, a form of ribonucleic acid, or RNA, that sheers and splices genetic material and could be used in therapeutic drugs. Sirna is the third local biotech with CU roots snapped up by Big Pharma in the last month, following on the recent acquisitions of Myogen Inc. and RxKinetix.

OSI Exiting Eye Disease Business
OSI Pharmaceuticals Inc., which competes with Genentech Inc. to treat the leading cause of blindness in the elderly, said it plans to exit the eye-disease business a year after entering it. OSI is considering licensing or selling Macugen, which treats age-related macular degeneration, and its research assets, the Melville, N.Y.-based company said Nov 6. Macugen was developed by CU spin-off Eyetech Pharmaceuticals Inc. OSI acquired the business in November 2005.

$20M CU-Boulder Instrument Set For Insertion On Hubble Space Telescope In Early 2008
The Hubble Space Telescope repair mission announced October 31 means $20 million to the University of Colorado, which designed an improved spectrograph that will fly to Hubble in May of 2008. Known as the Cosmic Origins Spectrograph, the $70M instrument will gather ultraviolet light from distant stars, galaxies and quasars and detail the physical condition of the early universe. Ball Aerospace of Boulder built all five of Hubble’s major instruments, as well as the instruments that will fly aboard Space Shuttle Discovery to make repairs. CU’s $20 million multi-year grant from NASA was put on hold after the 2003 Space Shuttle Columbia tragedy in which all astronauts on board perished on re-entry. The servicing mission, the final for Hubble, is expected to keep the world's premier space telescope in operation well into the next decade, according to NASA officials.

CU-Boulder Scientist Wins Top Physics Award For Advances In Precision Measurement
A University of Colorado at Boulder scientist has been named this year's recipient of the I.I. Rabi Prize for his contributions to the field of precision measurement. Jun Ye is a JILA fellow and a professor adjoint in the CU-Boulder physics department. The American Physical Society confers the award to a nominated scientist every two years, recognizing outstanding research in atomic, molecular and optical physics by researchers who have held a doctorate for 10 years or less.

CU’s Deming Center Receives Award for Tech Entrepreneurship Education
The Robert H. and Beverly A. Deming Center for Entrepreneurship at the University of Colorado Boulder’s Leeds School of Business has just learned it is the recipient of the 2006 Award for Excellence in Specialty Entrepreneurship Education given at the 2006 National Consortium of Entrepreneurship Centers (NCEC). This year's conference was co-hosted by Northern Kentucky University, University of Cincinnati & University of Dayton, October 13 & 14. The NCEC awards are designed to showcase and celebrate the very best of university entrepreneurship. The Deming Center has taken a leading role with its Sustainable Venturing Initiative (SVI) to advance programs that educate students, support innovators, acknowledge cutting-edge research, and showcase emerging opportunities in the Cleantech and Renewable Energy sectors.

Officials Consider National Network of Geosciences Supercomputers
A decision on whether Boulder or Cheyenne, Wyo. will host a proposed $75 million supercomputer center has been postponed again. Officials with the National Center for Atmospheric Research and the National Science Foundation are considering whether multiple supercomputer sites networked across the country may be a better option than just one site in Boulder or Cheyenne. The idea of networking the new supercomputers gained steam after a recent workshop at NCAR headquarters in Boulder involving researchers from around the country.

CU Researchers Develop Gene Therapy for a Troubled Sex Life
A new form of gene therapy could be used to treat impotence in diabetic men. A research team led by Jesse Mills of the University of Colorado UCDHSC has shown that replacing a faulty gene in rats with the equivalent of diabetes can improve their erectile function, suggesting that a similar approach might be useful in diabetic men. (London Times article)

CU Investigators Take Step Forward in Treatment of Cancer, Genetic Disease
Researchers at the Churchill and Tyler labs at the University of Colorado at Denver and UCDHSC have made an important stride in the future treatment of cancer and genetic disease. Their findings were published in the Nov. 3 edition of Cell. Mair Churchill, PhD, and Jessica Tyler, PhD, developed a three-dimensional model of the protein Asf1 (Anti-Silencing Function 1).  Asf1 is involved in the accessing of genes for gene regulation, genetic inheritance, and the repair of DNA damage. “This work provides the first molecular insight into how our cells gain access to DNA,” said Tyler, who has been studying the function of Asf1 for nearly ten years. “Cancer and genetic disease occur when genes which should be active become inactive. Because Asf1 helps to activate these genes, it may be a key to the treatment of these diseases.”

Photonics Association Selects Award Winners
The Colorado Photonics Industry Association selected winners for its annual awards to those who help advance the photonics industry. The Longmont-based organization is planning to present the awards at its quarterly meeting Tuesday. Gary Horvath, managing director of the University of Colorado Leeds School of Business in Boulder, will receive the association's Founder's Award.

TTO's Learning Laboratory: The Student Connection

Spotlight On:

Upcoming Events

Iowa Governor Tom Vilsack to Speak on Energy Choices for the New Century
November 16, 2006, 7:30 p.m., CU School of Law Wittemyer Courtroom
The Energy and Environmental Security Initiative (EESI) at the CU School of Law and Western Resource Advocates are proud to sponsor a distinguished presentation by Governor Tom Vilsack of Iowa on "Energy Choices for the New Century."  This is the inaugural event in a new series of presentations by key policymakers on energy and environmental security issues. Under Governor Vilsack's leadership, Iowa has become the number one state in the country for wind energy per capita; and has become the number one producer in the country for both ethanol and soy diesel.  Ethanol production alone has increased in Iowa by almost 300% in the past five years.  During Governor Vilsack's two terms, energy generation capacity has increased 20% including the development of the country's largest wind farm. RSVP to 303-492-4098 or eesi@colorado.edu.

Technology Transfer Fifth Annual Awards Event
January 24, 2007, 5:30 pm, Tivoli Brewery, Denver
The fifth annual TTO awards dinner will be held on January 24, 2007. This event, sponsored by Faegre & Benson LLP, celebrates people and companies that are illustrative of the outstanding year experienced by technology transfer at CU. Speakers will include Dr. Michael Bristow and Dr. J. William Freitag, both of Myogen. Save the date – more details to come.

The Digital Broadband Migration: The Next Wave of Innovation
February 11 – 12, 2007, CU School of Law, Boulder
Although still in a formative stage of change, the future of telecommunications will be radically different than what the drafters of the Telecommunications Act of 1996 envisioned. This Conference will examine the emerging world of telecommunications, taking special care to evaluate the rhetoric and realities of convergence; network management, security, and interoperability; digital rights management; and the role of entrepreneurship and established firms in promoting innovation. Co-sponsored by the Association of Denver Telecommunications Professionals, the Federal Communications Bar Association, and the University of Colorado Interdisciplinary Telecommunications Program. Info and registration online.

2007 Sustainable Opportunities Summit
February 28 – March 2, 2007, Sheraton Four Points Southeast, Denver
Innovators in large and small companies have discovered that the global movement in sustainability opens up ways to make money and boost shareholder value.  New products, new services, and new ways of doing business all represent opportunities for savvy companies.  Join industry leaders at the second annual Sustainable Opportunities Summit. Corporate leaders will learn from innovators about their business strategies to improve practices, capture new markets, and communicate their activities in sustainability. Entrepreneurs will hear from experts in a range of fields, from green building to clean technology to natural foods, about new business opportunities, and meet potential collaborators. Investors will learn about industry trends, cutting-edge technologies, and new business models.

Cleantech Innovation Challenge
March 1 – 2, 2007, Sheraton Four Points Southeast, Denver
The Robert H. and Beverly A. Deming Center for Entrepreneurship is pleased to announce the Cleantech Innovation Challenge. The inaugural event held in 2006, the Sustainable Venturing Business Plan Competition, has been renamed the Cleantech Innovation Challenge. This international event is designed to be the premier student competition showcasing emerging opportunities in the cleantech sector.  A minimum of $25,000 in prize money will be awarded to the winning teams. The top-ranked team with a clean energy technology business plan will be invited to present its business plan at the 20th annual National Renewable Energy Laboratory’s (NREL) Industry Growth Forum in Fall 2007.  The NREL forum is widely recognized as the premier investor venue for the clean energy industry. Eligibility, registration and info available online.

CU Resources

UCCS Steps Up Help for Technology Entrepreneurs
The University of Colorado at Colorado Springs has taken major steps to encourage technology innovation and entrepreneurship. See these stories for more information:

UCCS Small Business Development Center Aids Inventor-Entrepreneurs
The UCCS Small Business Development Center (SBDC) is a partnership with the Small Business Administration (SBA), and is hosted by the UCCS College of Business. Its mission is to provide small business assistance, information and leadership in activities which foster the successful growth and development of business; its vision, to ensure  entrepreneurs are given the opportunity to step out and following after their dreams, and are given the best opportunity to succeed once that step is taken. The Center helps start-up businesses through the formation and initial growth stages, as well as helping existing businesses grow to the next level after they have become initially established.  This is done through free, one-on-one counseling, workshops and resources, including SBDC staff, volunteer counselors and workshop instructors.

Inventors and entrepreneurs will find assistance in a variety of ways at the Center.  If an individual has a product or service to take to the market, through our free one-on-one counseling, the Center can provide guidance on which type of legal entity they should consider, how to effectively set up their bookkeeping system, manage cash flow and even help them secure financing for their start up or expansion efforts to name a few of the areas.  While this is something that some entrepreneurs can do by themselves, many feel intimidated or confused by the process, and the Center’s experience and support become a crucial aspect of their decision making process.  The Center’s goal is to be able to provide expertise in every area a small business has to face.

UCCS Small Business Development Center Director Honored
Recently the Center’s director, Matt Barrett, was selected as the 2006 State Star of the Colorado SBDC. Barrett was recognized for being an exemplary performer, making a significant contribution to the UCCS SBDC program and showing a strong commitment to small business in Colorado Springs. America’s Small Business Development Center Network is the SBA’s largest partnership program, providing management and technical assistance to help Americans start and run their own businesses. With about 1,000 centers across the nation, the SBDC network assists about 700,000 small businesses every year.

UCCS Celebrates Full Team of El Pomar Chairs at CITTI
CU-Colorado Springs officials held a reception on Monday, to salute the new trio of El Pomar Endowed Chairs and welcome two of them to the campus. Terrance Boult of computer science, El Pomar Chair of Communication and Computation, Michael Larson of mechanical and aerospace engineering, El Pomar Chair of Engineering and Innovation, and Clark Maxam of business, El Pomar Chair of Entrepreneurial Finance, joined Chancellor Pam Shockley-Zalabak and dozens of faculty and staff for afternoon snacks. The event was held to celebrate that the full complement of El Pomar endowed chairs has again been filled and to usher in the future for the Colorado Institute for Technology Transfer and Implementation
(CITTI ).

CITTI was established in 1991 through a major grant from the El Pomar Foundation, matched by funding from the university. The grant endowed three chairs in the colleges of Business and Engineering and Applied Science at UCCS, and established the CITTI office. CITTI operates as a focal point for cooperation among high-tech companies, entrepreneurs, community leaders, the university and El Pomar.

Board of Regents Approves Bachelor of Innovation Degrees for UCCS
The University of Colorado Board of Regents today (Nov. 2) unanimously approved a new family of degrees for students at the University of Colorado at Colorado Springs. Meeting at the University of Colorado at Denver and UCDHSC campus in Aurora, the regents agreed with recommendations made by UCCS Chancellor Pam Shockley-Zalabak and CU President Hank Brown to offer what is believed to be the first degrees of their kind in the United States, a bachelor of innovation. Initial offerings will include the BI in Business Administration, BI in Computer Science, BI in Electrical Engineering and BI in Game Design and Development.

Innovation in the News

Study: Biotech Products Average 8 Years, $1.2B to Market
The Tufts Center for the Study of Drug Development today announced it has developed the first comprehensive estimate of the average cost of developing a new biotechnology product, and pegged it at $1.2 billion. Biotechnology companies also spent an average of eight years to get a new treatment to the market – this amounts to about 24% more money and 8% more time than it costs makers of traditional drugs to develop a medicine. However, biotechnology products are more likely to be approved for sale, with about 30% approval (the approval rate for conventional drugs is about 20%).

Biotech Babies Born in 'Garage'
The University of California celebrates the first birthday of an unusual biotech incubator this month. The QB3 Garage lets aspiring entrepreneurs rent the equivalent of a single lab bench, right in the heart of a premier research institute. Named after the garage in Palo Alto where Bill Hewlett and David Packard launched their business in 1939, the QB3 Garage helps companies through the transition from research idea to new business entity by keeping them close to potential academic collaborators and by leasing very small spaces, so firms don't pay rent for space they don't need. Also, the Garage doesn't take equity or intellectual property from its tenants.

Venture Capital On the Rise
Third-quarter venture-capital reports were released October 23, highlighting gains both locally and nationally:
 
State Sees $195M in Venture Capital
Colorado companies gave thanks for the roughly $195 million in funding they received in the latest period, the most venture capital dollars to flow into the state since late 2002. In the three months, 17 companies in the state got funding, according to the latest Dow Jones VentureOne and Ernst & Young report. That compares with 15 deals in the comparable quarter of 2005 totaling $145 million. The report cited a "robust" merger and acquisition market and a positive reaction to recent technology company initial public offerings. Ernst & Young also noted that more investors are focusing on emerging sectors such as alternative energy.

Nationwide Biotech Capital Sees Big Gain
The flow of venture-capital money to biotechnology companies outpaced the dollars raised by software startups during the third quarter, marking the first time that has happened, according to a MoneyTree venture- capital survey. The attraction to biotech firms is driven, at least in part, by rising medical costs and an aging U.S. population, experts said. "I don't think software is dying; it's just that biotech is growing," said Bob Puls, a partner in Denver with PricewaterhouseCoopers, the accounting firm that issued the MoneyTree Report.

Michigan Life Sciences, Tech Firms to Get State Cash
The $95-million Venture Michigan Fund is the state's latest program designed to attract companies developing cutting-edge technology. Fund officials said last week they will focus initially on early-stage investments in the areas of information technology and life sciences. The fund aims to help Michigan business access venture capital, invest in VC funds with significant presence in Michigan, and diversify Michigan's economic base by focusing on job creation in the areas of alternative energy technology, information technology, life sciences and health care.

Nanotech Products Face Patenting Logjam
The time it takes to process a patent application in the U.S. has doubled since 2004, now taking an average of four years, just as nanotechnology is gaining ground in creating new products. Nanotech-related applications have grown by an average of 20% a year over the past few years, while patents for other types of products have risen by only 2%. The delay may make it difficult for companies to attract financial backers, according to one patent lawyer.

International Students Trickle Back to US, But Life Sciences Still Lagging
In a slight improvement from last year's numbers, enrollment of first-time international graduate students in US life-science programs rose 2% in 2006, according to a new survey. Last year, new student enrollment slipped 1%, and in 2004, it dropped 10%.  Still, total enrollment has not recovered as quickly in the life sciences as in some other fields of study, according to the Council of Graduate Schools (CGS) survey. In life science, enrollment of international grad students dipped 1% in 2006, bettering last year's 5% decline. In engineering, there was a 3% increase in 2006, versus a 6% decline in 2005. In business, enrollment was up 1%, after a 3% dip last year.

External Resources

AUTM Better World Project
How did a mountain climber invent a better, more perfect prosthetic knee? What do stealth bombers and dental crowns have in common? How did a simple test help save millions of men’s lives? Why is sand an ideal water purifier? How could an apple breathe new life into a section of the U.S. economy? Learn the answers to these questions and more. The Better World Project shares the surprising and inspiring stories behind innovations that have changed the way we live. It’s a must-read for people interested in research and discovery, technology transfer or economic development as well as anyone who has wondered: “Where did that come from?”

"University Pre-Seed and Venture Funds"
James Golubieski, Foundation Venture Capital Group, and Dr. Alfred “Buz” Brown, BCM Technologies, provide a preview of their Conference session on the increasing sophistication of academic commercialization and the growing number of universities with pre-seed and venture funds, essential resources needed to help create entrepreneurial start-up companies and commercialize university technologies. CFI AudioBlog.

Inventors' Roundtable
Inventors' and entrepreneurs' educational roundtable held on the second Thursday of each month from 5:30 p.m. until 9:00 p.m. at Brooklyn's restaurant in Denver, Colorado. This is a free roundtable meeting, where inventors and entrepreneurs can discuss the inventing, manufacturing, individual financing, and venture capital process. Also attending, to answer questions: patent attorneys and marketing, finance, venture capital, manufacturing (domestic and overseas) and licensing experts, and others who have been there and done that. Don't spend a dime before it's time.  For more information, call 303-910-8889 or email Inventors' Roundtable.

The Human Element of Building a Leading Venture Capital Firm: International Business Forum Conference
As the venture capital industry has grown and matured, many leading firms have expanded their internal teams to include marketing professionals, human capital specialists, entrepreneurs-in-residence and other key players to help their portfolio companies and to provide their firms with a competitive edge. Different firms have adopted different strategies. A 90-minute webcast December 1, 2006 (10:00 – 11:30 am) will explore some of the models, the pros and cons of different strategies, organizational structures and share real life experiences on both coasts. Register online.

Clean Energy Grows Up
At long last, the tipping point is nigh: For the first time in modern history, clean-energy technologies are becoming cost-competitive with their "dirtier" counterparts. While oil and natural gas prices remain stubbornly high and frustratingly volatile across the globe, and as nuclear and coal-based energy remain dogged by environmental and safety concerns, clean-energy prices continue their near-relentless downward march. Clean Edge's free annual report on clean technology trends is available at http://www.cleanedge.com/reports-trends2006.php

DOE, USDA Announce $34.5M for Renewable Energy Research
In October representatives from the clean energy community in all 50 states met in St. Louis to address the growing need for alternatives to fossil fuels.  Advancing Renewable Energy: An American Rural Renaissance, a national conference sponsored by the U.S. Departments of Agriculture (USDA) and Energy (DOE), hosted a range of discussions on the future of renewable energy technologies and President Bush's Advanced Energy Initiative. The event also gave Secretary of Agriculture Mike Johanns and Secretary of Energy Samuel Bodman an opportunity to announce $34.5 million in awards and other funding for renewable energy research and development. More than $17 million of the funding was awarded for R&D and demonstration projects focusing on biobased products, bioenergy, biofuels and biopower. Included is an award to the Western Governors' Association, headquartered in Colorado, for $290,246 to develop a bioenergy strategy for western states.

Parting Quotes

"The most exciting phrase to hear in science, the one that heralds the most discoveries, is not 'Eureka!' but 'That's funny…"
                                                                                                         ~Isaac Asimov