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Purdue honors faculty entrepreneurs for life-altering inventions
WEST LAFAYETTE, Ind. - A recently developed method permits targeted drug treatment of cancer and other diseases, thanks in part to a Purdue professor who is this year's recipient of the university's Outstanding Commercialization Award.
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The award is being presented to Phillip Low, the Ralph C. Corley Distinguished Professor of Chemistry, during the Inventors' Recognition Dinner on Wednesday (Oct. 11). The event, sponsored by the Purdue Research Foundation, highlights the accomplishments of 35 university faculty or staff whose research has or may soon result in commercial applications.
"Many commercially viable technologies are represented by these remarkable scholars being honored here," said Joseph B. Hornett, the foundation's senior vice president, treasurer and chief operating officer. "Our Office of Technology Commercialization has helped to protect, market and license other research by offering support and services that allow entrepreneurs to keep innovation here in Indiana. It's not unreasonable to expect many of these inventions will eventually come to market through our incubation program or BusinessMaker process."
In fiscal year 2005, Purdue Research Foundation reported 213 invention disclosures, compared with 167 the year before, and 118 issued patents, compared with 95 the previous year. In the past six years, the university's invention and copyright disclosures have more than doubled. The foundation also reported the creation of three startup companies in 2004 and five in 2005.
Low is being honored for translating his research into commercial applications that have the potential to enhance the pharmacologic treatment of certain life-threatening illnesses. The commercialization of this methodology will help create jobs for Indiana, Low said. He will receive the award, sponsored by the Central Indiana Corporate Partnership, to recognize his 28 worldwide patents with 32 additional patents pending. Patents and technologies spawned in Low's lab also led to the formation of Endocyte Inc., a Purdue Research Park company with 45 employees.
This is the fourth time Purdue has presented the award. Previous recipients include R. Graham Cooks, the Henry Bohn Hass Distinguished Professor of Chemistry in the College of Science; Leslie Geddes, the Showalter Distinguished Professor Emeritus of Bioengineering; and Fred Regnier, the John H. Law Distinguished Professor of Chemistry.
"These award recipients are legendary in their fields," said Victor L. Lechtenberg, Purdue's vice provost for engagement. "They are highly regarded by the