Story excerpt provided by Columbus Business First. Written by Carrie Ghose.
When one of the first spinoffs from technology invented at Nationwide Children’s Hospital announced a nearly $9 billion acquisition deal last week, it came as a surprise to commercialization staff.
They were probably too busy anyway. Children’s made a huge leap in commercialization efforts in 2017: It executed 18 licenses or options on its technology, compared with 12 in 2016 and nine in each of the three years before that. The hospital also launched four new companies – as many as the prior three years combined.
The Columbus pediatric hospital made $36.7 million in licensing income last year, almost all of it from selling off shares in publicly held AveXis Inc., which has licensed three gene therapies from the hospital. Children’s runs clinical trials, but is not involved in business operations, so it had no advance notice of the pending acquisition by Novartis AG.
Click here to read the complete article. Originally published April 17, 2018.