The University of Queensland (UQ) will restructure its commercialisation arrangements by transferring the commercialisation functions of IMBcom, the technology transfer company for the Institute for Molecular Bioscience (IMB), into those of UniQuest, the largest of UQ’s commercialisation companies.
After reviewing the circumstances of the company, the Directors of IMBcom, in consultation with The University of Queensland, have decided to restructure the operations of the company.
“Economies of scale are vital in a tight funding climate, and the bespoke model of a small company dedicated to one institute was unsustainable,” IMBcom CEO Dr Peter Isdale said.
Dr Isdale will be stewarding the transfer of the commercialisation functions, including the management of its intellectual property pipeline, to UniQuest over the next six months.
In its 11-year existence, IMBcom has created 12 biotech start-up companies which have sourced investments of more than $100M, and contracted $25M in research funding into the IMB laboratories.
Importantly, IMBcom has “incubated” more than 40 trained professionals who have entered the biotechnology industry in technical, administrative and commercial roles.
The Board of IMBcom paid tribute to the endeavours of Dr Isdale and his staff over the past decade, noting that the valuable pipeline of discoveries developed by IMBcom would form the basis for future UQ commercial successes.
“IMBcom has developed a strong portfolio of assets and intellectual property which UniQuest is well able to take forward,” David Henderson, Managing Director of UniQuest, said.
“The IMBcom Board, CEO and staff have run a highly professional operation and UniQuest is looking forward to maintaining this level of service to the IMB research community and building on the solid foundation created by IMBcom.”
Dr Peter Isdale
CEO
IMBcom Pty Ltd
p.isdale@imbcom.com.au
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