PITTSBURGH, June 10, 2011 /PRNewswire/ -- The Pittsburgh Life Sciences Greenhouse (PLSG), the organization providing capital investments and customized company formation and business growth programs to the region's life sciences enterprises, announced through its President and CEO, John W. Manzetti, the creation of the Bioengineering Innovation and Commercialization Program (BICP) that PLSG will lead in partnership with the Biomedical Engineering Society of the University of Pittsburgh.
"We are very pleased to begin a ground-breaking initiative with the Biomedical Engineering Society of the University of Pittsburgh," said Mr. Manzetti. "The Bioengineering Innovation and Commercialization Program will allow PLSG to gain access to deep knowledge about the world-class research and development that is being performed within the University of Pittsburgh's Bioengineering Department." John Manzetti continued, "By introducing students and researchers to our Executives-in-Residence, industry experts and business growth programs, we can help accelerate the commercialization potential of university innovations which will facilitate new company formation and out-licensing opportunities."
The Bioengineering Innovation and Commercialization Program (BICP) has been established in order to help expose, educate, and implement commercial thinking into both early and late-stage research and development. The initiative will target hundreds of bioengineering graduate students and faculty that otherwise do not self-select for commercializing their biomedical innovations.
The initiative will increase introduction to some of the world's leading research and development in medical devices, therapeutics, information technology, diagnostics, and regenerative medicine for the purposes of exploring commercialization and market potential.
"The BICP is poised to expand the Bioengineering Department's already stellar reputation for scientific innovation. I encourage students to explore what this program has to offer," said Dr. Arthur Levine, Senior Vice Chancellor for the Health Sciences; Dean, School of Medicine, University of Pittsburgh.
About the Pittsburgh Life Sciences Greenhouse (PLSG) (www.plsg.com)
The PLSG invests in and supports the growth of biosciences companies in western Pennsylvania. PLSG has a track record of excellence when it comes to attracting and growing life sciences companies in the region. Since its inception in 2001, PLSG has assisted 332 life sciences companies and has helped create or retain nearly 6,000 jobs in western Pennsylvania. 34 companies have been provided with office or laboratory space and 13 have been relocated to Pittsburgh from outside of the region. In addition, the PLSG has invested $16.9 M in 63 companies which has leveraged $624 million in additional capital to the region.
About University of Pittsburgh Biomedical Engineering Society
The University of Pittsburgh Biomedical Engineering Society (BMES) is a student-driven organization dedicated to promoting academic, ethical and professional excellence in the bioengineering field. Bioengineers are trained across mathematical sciences, chemistry, biophysics and medicine in order to advance scientific knowledge from the nano-scale to molecular, cellular, organ and systems-based perspectives. The University of Pittsburgh BMES is creating world-renown scientific discoveries in biologic therapeutics, bio-materials, medical devices, cellular & molecular pathology diagnostics and life sciences information technology through the mentorship and expertise of the University faculty.
SOURCE Pittsburgh Life Sciences Greenhouse