The University of Queensland has been presented with a $1 million cheque by Comquest Pty Ltd.
The cheque was the proceeds from the commercialisation of technology developed at UQ’s Centre for Magnetic Resonance (CMR). Comquest was formed in 1991 to oversee marketing and commercial activities resulting from a $5.2 million research program to further develop magnetic resonance at CMR.
Comquest’s Chairman Dr Nick Girdis presented the cheque to UQ Vice-Chancellor Professor John Hay at a presentation on Thursday, December 5.
“This is Comquest’s second such contribution to the University. In February 2001 we presented UQ with a cheque for $1.5 million,” Dr Girdis said.
A patented technique for purifying the imaging field of a magnetic resonance system was licensed by UQ’s technology commercialisation company UniQuest Pty Ltd to GE Medical Systems and Siemens in 1996. It now generates a total royalty stream of approximately $2 million per annum for the investors and University parties.
In addition the CMR developed new nuclear magnetic resonance products for use in analytical applications that it continues to manufacture and supply to export markets.
UniQuest’s Managing Director David Henderson said Comquest had been a great success.
“The commercialisation of technology developed at the CMR is a fine example of technology transfer from the University of Queensland. Comquest’s success has been built upon a base that included three key elements: world class technology, a strong intellectual property position and an excellent relationship with a leading industry partner,” Mr Henderson said.
Also in attendance at the presentation were members of the University Senate and key scientists Professor David Doddrell and Professor Stuart Crozier.
Media: For more information, contact Anne-Marie Birkill (telephone 07 3365 6937, email: a.birkill@uniquest.com.au) or UQ Communications (telephone 07 3365 3367, email: communications@uq.edu.au).
