Newswise — Dalhousie Industry Liaison and Innovation is pleased to unveil its "Million Dollar Invention Club," a special award given to university faculty whose research has led to over $1 million in commercial revenues. The first members of the club are Dr. Jana Sawynok, Professor and Chair of Dalhousie's Department of Pharmacology and her research associate, Allison Reid and former collaborator Dr. Mike Esser of Calgary.
Their invention is a pain management drug known as NP-1 that is designed to provide long-term relief from neuropathic pain. Dalhousie's licensee, EpiCept Corporation (NASDAQ: EPCT) of Tarrytown, New York, recently entered Phase III clinical trials with the product. Under the terms of the license agreement between Epicept and Dalhousie, first patient dosing in a Phase III trial triggers a milestone payment of $150,000 to Dalhousie, which pushed total revenues from the invention over the $1 million mark.
"Reaching $1 million in revenues is an exciting milestone for a commercialized technology," said Dr. Ronald Layden, Executive Director of Industry Liaison and Innovation at Dalhousie. "It validates the market potential of the product and its value in fulfilling unmet needs in advanced pain medication. We're pleased to be able to recognize the results of the groundbreaking research of Dr. Sawynok and her team."
"As scientists, it is very gratifying when the ideas we explore in the laboratory actually contribute to the development of a novel therapeutic," said Dr. Sawynok upon receiving the award. "This type of recognition serves as one measure of that translation in action."
The Industry Liaison and Innovation office commercializes research at Dalhousie University, manages and facilitates collaborations between companies and university researchers and assists in the creation of spin-off ventures. http://www.dalinnovation.com
About Dalhousie: Dalhousie is a comprehensive, research-intensive university with more than 15,500 students. In The Scientist magazine, it was recently announced as the best place to work in academia outside of the United States. http://www.dal.ca
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