KANSAS CITY, Mo., May 3, 2016 /PRNewswire/ -- BioNovus Innovations LLC and the University of Kansas Medical Center's Institute for Advancing Medical Innovation (IAMI) today announced a new partnership to develop and commercialize new drugs, diagnostics and medical devices.
An agreement between the two organizations provides BioNovus Innovations with rights to license, develop and commercialize medical innovations advanced through IAMI.
"This partnership represents a significant advance in our ability to translate laboratory and bedside discoveries into innovative drugs, diagnostics and medical devices that may improve the lives of patients," said Scott Weir, Pharm.D., Ph.D., director of IAMI.
This agreement partners IAMI's product development enterprise with the business and capital resources of BioNovus. Together, the organizations possess the resources and expertise required to bring the most promising products from the laboratory to market.
"The partnership eliminates one of the key challenges to commercialization of new therapies, namely the expense and difficulty in shepherding these therapies through clinical trials and out into the marketplace," said Tammy Ham, president of BioNovus Innovations.
An announcement regarding the first collaborative venture between the two companies will be made in May.
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SOURCE BioNovus Innovations