New Program Focuses on Medical Devices
Executives in the partnership between BioStrategy and AmpTech are Michele Washko, program manager, BioStrategy; Zev Sunleaf, vice president, Office of Technology Transfer, Commercialization & Innovation, Children's Hospital of Philadelphia; Roman Fedorovsky, president and CEO of AmpTech; Stephen Nappi, president of BioStrategy Partners; and Erika Swift, associate director, Penn State College of Medicine Center for Medical Innovation.
AmpTech® and BioStrategy Partners, Inc., Form Partnership to Accelerate Speed to Market of Technological Devices
March 1, 2018 - AmpTech, a technology incubator and commercialization center in Malvern, Pennsylvania, is joining with BioStrategy Partners, Inc. (BioSP), a consortium of Pennsylvania academic centers and research institutions, to form an innovative network and functional ecosystem that offers research centers and institutions in Pennsylvania a unique program that will increase speed to market of technological devices. The program uses a process designed to enhance early stage intellectual property.
The partnership revolves around AmpTech’s 20,000 sq. ft. building, which houses an infrastructure of scientific, engineering and business capabilities with real-world expertise applied to the new germinator program. This program provides AmpTech with an exclusive option to develop new technologies that emerge from the partnership that will enable new company formation. It also permits AmpTech to deploy its team to engage industry adopters and potential investors early in the development of the selected cutting edge intellectual property from these research centers. The seven universities and research centers affiliated with BioStrategy Partners are Children’s Hospital of Philadelphia, Thomas Jefferson University/Jefferson Health, Penn State University, Temple University, and Wistar Institute. Affiliate members are University of the Sciences and the Lankenau Institute for Medical Research. BioSP member institutions, whose collective research activity exceeded $1.6 billion in 2017, generate over 400 discoveries annually.
The AmpTech Germinator Program is modeled on two earlier BioSP germinator programs with leading global pharmaceutical companies. It has been tested and proven with several early stage projects in partnership with Temple University. “The addition of The AmpTech Germinator Program extends BioStrategy Partners’ efforts by advancing devices through an interconnected commercialization system of academic and industry partners,” says Stephen Nappi, president of BioSP. “Our two existing germinators at BioStrategy Partners have a history of working together to develop scalable discoveries in the pharmaceutical space, which will grow to include medical and other devices with the AmpTech partnership.” Nappi also is associate vice president, technology commercialization and business development at Temple University.
The AmpTech Germinator closes a critical gap in university and academic medical center research by taking an idea through the development stage and assessing both technical and market feasibility so that end users can identify it as a product of value early in the process. Its development and commercialization processes are simplified to ensure that quick actions are taken to bring the technology to a go/no-go decision.
“The AmpTech Germinator process has proven effective in connecting early-stage concepts to commercial adopters by aligning market feasibility and proof-of-concept prototyping within a limited budget and tight time constraints,” notes Roman Fedorovsky, president and CEO of AmpTech. “We’re excited to implement this process with BioStrategy Partners which will further enhance medical device innovation around the Greater Philadelphia region.
According to Stephen Nappi, many institutions nationwide are seeking the same discovery, development, and commercial cohesion that the BioSP germinator programs have already achieved. By establishing new relationships such as this program with AmpTech, which moves the work of single institutions into a multi-institutional effort, BioSP is connecting a commercial system with a unique research and development system. These newly established relationships, which speak with one institutional voice instead of many, have been proven to reduce time and cost.
“Innovation is often very easy to talk about, but to progress an idea to a marketable product is a major challenge in the medical space,” remarks Michele Washko, M.B.A., program manager of BioSP. “BioStrategy Partners has introduced efficiencies that make it easier for all to reach this goal, and we look forward to working with AmpTech so that we may extend our work into the engineering space and bring new types of devices to market.”
Note to Editors
BioStrategy Partners, Inc. is a consortium of Pennsylvania academic medical centers and research institutes committed to the development and transfer of academic research into the marketplace. The organization develops and offers programs and services that foster industry-academic collaboration, aids technology development and commercialization, and contributes to the ongoing education of faculty and graduate students about the commercialization and technology transfer processes.
AmpTech® LLC., of Malvern, Pennsylvania, is a commercialization center and incubator for startup companies and entrepreneurs in Greater Philadelphia. As part of the Greater Philadelphia Entrepreneurship and Innovation Ecosystem, AmpTech provides a collaborative environment where start-ups, service providers, investors, and universities come together to bring products to market faster. It bridges the gap for start-ups and corporate innovators by offering engineering expertise, business acumen, and a place to develop products quickly, under one roof.
Contact for AmpTech: Simon Kassas
Executive Vice President, Business Development and Marketing
Phone: (484) 320-8938 e-mail: firstname.lastname@example.org
Contact for BioStrategy Partners: Michele Washko
Phone: 717-514-0436 e-mail: email@example.com