SIGN LICENSE AGREEMENT FOR NEW TECHNOLOGY
NASHVILLE, Tenn. and KNOXVILLE, Tenn. (February 10, 2009) – Nashville-based Cumberland Emerging Technologies, Inc. (CET) and the University of Tennessee Research Foundation (UTRF) today announced they have entered into a license agreement for a promising new asthma treatment discovered at the University of Tennessee Health Science Center. Under the agreement, CET is providing formulation, grant funding, regulatory and product development assistance in exchange for rights to commercialize the new technology.
joint development project has received more than $190,000 in grant funding,
including a recent Phase I grant award of nearly $112,000 from the National
Institutes of Health under the Small Business Technology Transfer program. Additional
grant funding was provided by the
Airway remodeling occurs when
the cells or muscles that line the airway become inflamed and can result in
decreased lung function. Currently,
there is no treatment available that prevents remodeling of the airway smooth
muscle. According to the
“Our mission at UTRF is to support the research enterprise and find ways to take research results to the marketplace in a way that benefits society,” said Fred Tompkins, President of UTRF. “With the expertise and commitment of CET's development team, we are one step closer to a treatment that could reduce – and even prevent – asthma attacks in children. We are delighted to have their support as we continue this promising research.”
The joint development project is a result of the 2006 collaboration agreement between CET and UTRF to further research efforts at the university by leveraging CET's technology development and regulatory expertise.
“Licensing this technology is an important milestone for CET,” said A.J. Kazimi, Chief Executive Officer of Cumberland Pharmaceuticals and CET. “Not only are we adding a promising new product candidate to our development pipeline, we are also providing researchers with the resources necessary to advance this important work. This is precisely what we envisioned when we created CET to bridge the gap between the research laboratory and the commercial marketplace.”
Cumberland Emerging Technologies, Inc. is a joint initiative between Cumberland
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This study quantifies the economic impact of the UTHSC on the economy of the state of Tennessee for FY2010.
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