WEST LAFAYETTE, Ind. and INDIANAPOLIS – Purdue University’s impact on life around the world could further intensify through a new partnership.
An agreement between venture studio and funds Boomerang Companies, the Purdue Foundry and the Purdue Research Foundation Office of Technology Commercialization will help develop Purdue-related healthcare startups and healthcare-related intellectual property that has yet to hit the market.
Purdue Foundry and OTC will provide startup and IP listings to Boomerang, who will review the listings to determine which ones they see as the most promising.
Oscar Moralez, founder and managing partner of Indianapolis-based Boomerang, said the healthcare studio builds businesses from promising ideas by collaborating with founders, universities, healthcare systems and entrepreneurial ecosystems.
“Purdue University sets itself apart in Indiana and the Midwest with its College of Engineering and the Krannert School of Management. In addition, Purdue Foundry and Purdue Research Foundation have been active in life science innovations for years, ”said Moralez. “This partnership is a great way to access new technologies and increase the possibilities for bringing new healthcare innovations to life. “
Wade Lange, director of entrepreneurship at Purdue Foundry, said that commercializing intellectual property to solve problems in healthcare is a team sport. He said this required adding Boomerang’s complementary skills, including product development and commercialization, to the deep technological expertise of Purdue scientists in the healthcare field.
“Boomerang brings an impressive team of highly experienced professionals who have mastered the disciplines of product development, sales, marketing and more to team up with researchers at Purdue and bring these great ideas to market,” said Lange.
Audrey Beckman, chief innovation officer at Boomerang, said the company was excited about the synergy opportunities the partnership represents.
“We have already seen strong intellectual property in the life sciences coming from Purdue innovators and entrepreneurs,” Beckman said. “Oscar Moralez has a long-standing business relationship with executives at Purdue Foundry and Purdue Research Foundation, which has led him to teach Introduction to Entrepreneurship this fall. Boomerang Venture Studio looks forward to continuing to evaluate healthcare intellectual property originating from Purdue University through this new partnership.
About the Purdue Foundry
ThePurdue Foundryis an entrepreneurship and commercialization hub whose professionals help Purdue innovators create startups. The Purdue Foundry is operated by thePurdue Research Foundation , which received the 2019 Innovation and Economic Prosperity Universities Award for Place from the Association of Public and Land-grant Universities. Contact the Purdue Foundry at [email protected]
About the Purdue Research Foundation’s Office of Technology Commercialization
The Purdue Research Foundation Office of Technology Commercialization operates one of the most comprehensive technology transfer programs among leading research universities in the United States. The services provided by this office support Purdue University’s economic development initiatives and benefit the university’s academic activities through the commercialization, licensing and protection of Purdue intellectual property. The office recently moved into the Convergence Center for Innovation and Collaboration in the Discovery Park district, adjacent to the Purdue campus. In FY2020, the office reported 148 agreements finalized with 225 technologies signed, 408 disclosures received, and 180 U.S. patents issued. The office is managed by the Purdue Research Foundation, which received the 2019 Innovation and Economic Prosperity Universities Award for Place from the Association of Public and Land-grant Universities. In 2020, the IPWatchdog Institute ranked Purdue third nationally for creating startups and in the top 20 for patents. The Purdue Research Foundation is a private, not-for-profit foundation created to advance the mission of Purdue University. Contact [email protected] for more information.
Boomerang Companiesis on a mission to help solve the most pressing health issues facing the world today through our venture capital fund and studio, ensuring a better quality of life for all. We do this by creating, launching and funding new healthcare and life science companies with disruptive technologies and processes aimed at improving patient outcomes and lowering the cost of care.
Writer: Steve Martin, [email protected]
Sources: Wade Lange, [email protected]
Oscar Moralez, [email protected]
Audrey Beckman, [email protected]