Nine Chicago institutions have come together to form the Chicago Biomedical Consortium Hub for Innovative Technology and Entrepreneurship in the Sciences, the Feinberg School of Medicine announced in a press release Tuesday. The biomedical collaboration was created to expedite the delivery of newly discovered treatments and technologies to patients.
The hub will foster partnerships between academic inventors and biopharma leaders to develop medical research into commercial products.
“Northwestern is proud to be part of this new research hub, which promises to accelerate our biomedical innovations and bring them to market in settings where they can directly benefit patients,” said Eric Perreault, Northwestern’s vice president for research. “It will provide additional opportunities for Northwestern scientists to translate their breakthroughs into commercial ventures with great societal impact.”
Scientists from NU, the University of Chicago, the University of Illinois Chicago, the Discovery Partners Institute, Illinois Institute of Technology, Loyola University Chicago, Northern Illinois University, Rosalind Franklin University and Rush University are behind the venture. The Searle Funds at The Chicago Community Trust, The National Institutes of Health and the Walder Foundation provided funding for the hub.
CBC-HITES will join 12 other hubs as part of the National Institutes of Health’s Research Evaluation and Commercialization Hub program. Primary investigator and Feinberg surgery Prof. Satish Nadig said the new hub will connect Chicago medical scientists with the expertise and network needed to develop ideas into biotech applications.
“The goal is to get innovative treatments from discovery to patient delivery faster, and we needed a way to teach medical inventors about that process,” Nadig said. “We’re helping patients and expanding the Chicago-based life sciences ecosystem at the same time through this unprecedented collaborative effort.”
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