Innovation Exchange helps members form partnerships

December 22, 2010

Just months after a soft launch, the MassBio Innovation Exchange is picking up steam and poised to help MassBio’s biotechnology members work toward partnerships and licensing or acquisition deals from pharmaceutical company members.

The Exchange enables the strategic connection of inventors (“sellers” to the partners best suited to commercialize their innovation (“buyers”) to accelerate innovation and make deal-making more efficient. The Exchange was developed under MassBio Innovation Services, a series of programs we’ve added, with our members’ input, to address the need to better align the research community with opportunities for commercialization.

The secure portal, custom built by our technology partner ideaPoint, is now open for business, and seeing heavy traffic as technology transfer offices and business development professionals sign on.

On the seller side, academic medical centers, universities and biotech companies looking to out IEXlicense have a confidential & secure common application process that is both intuitive and business focused, a real-time status on the interest in their technology submissions and the ability to review the specific portfolio needs of the buyers in the Exchange. Already, licensing professionals from Children’s Hospital Boston and UMass Medical Center have begun uploading their technologies.

Merck and Shire Pharmaceuticals have signed on as Charter Members of the Exchange— and because of their commitment will have direct access to the technologies that fit their development pipeline goals.

The Exchange will also be used to fully integrate MassBio’s Pharma Day experience into a year-round model for greater collaboration & performance.

MassBio members are encouraged to check out the Exchange today at https://massbio.idea-point.com.

For more information on the Innovation Exchange, contact Imran Nasrullah at Imran.nasrullah@massbio.org or 617-674-5100.

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