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.