NASHVILLE, Tenn., May 15 /PRNewswire/ -- Cumberland Emerging Technologies, Inc. (CET) has signed a collaboration agreement with the University of Tennessee Research Foundation (UTRF) to develop and commercialize new pharmaceutical products. With the shared goal of bringing early-stage research to the marketplace, the parties will work together to develop innovative products based on intellectual property emerging from University of Tennessee research and take them through critical phases of development and regulatory approval. The university and CET will pursue grant funding for these projects through federal programs like Small Business Technology Transfer and Small Business Innovation Research. "We are delighted to join forces with CET to further the important work being initiated here," said Fred Tompkins, UTRF president. "They share our dedication to progressing important research into new medicines and creating economic opportunities for the region. Together with CET's development expertise and infrastructure support, we believe we will be successful in bringing promising new products to the market." "Partnering with respected academic research programs like the University of Tennessee Research Foundation is a key element of CET's strategy," said A.J. Kazimi, chief executive officer of Cumberland Pharmaceuticals and CET. "In addition to developing potentially life saving medicines and technologies, this alliance provides a strong foundation for moving our state's biopharmaceutical industry forward." The University of Tennessee Research Foundation is a not-for-profit corporation dedicated to promoting and managing research and technology commercialization throughout the statewide university. The foundation seeks to minimize bureaucracy, promote entrepreneurial spirit, and grow Tennessee's economy by supporting development and dissemination of intellectual property and helping create technology-related businesses. Cumberland Emerging Technologies, Inc. is a joint initiative between Vanderbilt University, Cumberland Pharmaceuticals Inc. and the Tennessee Technology Development Corporation. The mission of CET (www.cet-fund.com) is to bring biomedical technologies and products conceived at regional research centers to the commercial marketplace. CET helps manage the development and commercialization process for select projects and provides expertise on intellectual property, regulatory, manufacturing and marketing issues that are critical to successful new biomedical products. CET's Life Sciences Center, located in Nashville, Tennessee, provides laboratory space, equipment and infrastructure to early-stage life sciences companies.
SOURCE Cumberland Emerging Technologies, Inc.