Recent Successes and Managing Expectations
Dr. Robert J. Genco, Vice Provost and Director of STOR
The UB Office of Science, Technology Transfer and Economic Outreach (STOR) has had several recent successes. Three UB technologies have received funding from the New York State Office of Science, Technology and Academic Research to develop products. These include Buffalo BioBlower Technologies, a UB start-up which is developing a device that can eradicate spores of virulent organisms such as B. anthrax in the air stream; Reichert, a local company, which is developing a microfluidic UB technology developed by Dr. Fred Sachs, which tests live cells for responses to stimulus by using electrical resistance to measure changes in cell volume; and Kinex, a UB start-up company that has licensed a series of drugs with the promise for treating cancer.
In addition, SmartPill Diagnostic Corporation, another UB start-up company, received FDA approval for their product in Canada. SmartPill developed an electronic capsule, based on technology discovered by UB faculty member, Jerome Schentag, which is a wireless device about the size of a large vitamin pill. When swallowed, the capsule travels along the gastrointestinal tract, collecting data and transmitting it to a receiver worn on the patient’s belt or around the neck. The device measures pH pressure and can evaluate the progress of stomach emptying, which is delayed in a condition called gastroparesis. Gastroparesis affects up to 50% of diabetics and can lead to nausea, vomiting, abdominal pain, bloating, and weight loss. The FDA approval was based upon clinical trials carried out by SmartPill, and clears the way for commercial sales this Fall, and for FDA approval in the U.S.
These companies, and the 32 other companies founded through the efforts of UB faculty and STOR over the last 4 years, hold promise for pushing the envelope of UB technology to provide products and services that improve the quality of life. Furthermore, they hold promise to contribute to the Western New York economy by stimulating the creation of jobs and provide lasting value in our community.
It should be noted that many of these products that the companies are commercializing take years to get to market. There is a slow build-up of employment in these companies as they spend a major part of their resources on research and development and clinical trials in the early years, and eventually manufacturing and marketing in later years. However, in the next decade many of our existing start-up companies, as well as new spin-out companies that develop each year from UB technologies, will benefit society and the local economy. This has happened in other areas, e.g., in San Diego it is estimated that it took approximately 2 decades to have a major effect on the local economy. This has also happened in Boston and in Silicon Valley, where these efforts have been on-going for 3 or 4 decades.
So while there are some successes, we really have to manage our expectations with the realization that major effects on our regional economy will not likely be seen for a number of years. We have a good start and a good basis for orderly transfer of technology from UB scientists to start-up businesses, as well as licensing to existing companies. Over time this should have a major affect on Western New York.
The administration and staff of the UB Office of Science, Technology Transfer and Economic Outreach have the mandate to facilitate the development of all of UB faculty and staff discoveries. We also are dedicated to making Western New York at better place to live and work, through these efforts.
Robert J. Genco
Vice Provost and Director Office of Science, Technology Transfer and Economic Outreach