THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Sunday, January 1, 1995 TAG: 9501010080
SECTION: LOCAL PAGE: B1 EDITION: FINAL
SOURCE: BY MARIE JOYCE, STAFF WRITER
LENGTH: Medium: 69 lines
Building a better mousetrap may bring the world to your door, but if you're designing a new surgical instrument . . . well, you may have to do a little marketing.
Eastern Virginia Medical School is embracing entrepreneurship, developing its own system for patenting ideas its scientists develop.
The goal: reducing reliance on organizations like the Center for Innovative Technology, a state agency that promotes technology development. The agency and similar public and private groups help the school acquire patents in exchange for some of the profits.
A medical school's ``better mousetrap'' might be a new surgical instrument, a new drug or a new technique.
Once an idea is patented, the school may license it to a company that wants to develop and market the invention. If the idea makes money, the company pays royalties to the school.
It's easy to find markets for some ideas, said William Cooke, associate dean in the school's research office. Surgical equipment has an obvious application, and the school knows how to find interested companies.
But many times, the school and the scientist may not know whether an invention could be a money-maker.
``Scientists tend not to be up on market forces,'' said Cooke.
That's when they turn to CIT.
CIT conducts a patent search to make sure the idea really is new. Staffers look for a market for the product and plot a strategy. The center assumes the initial cost of that work.
If the project eventually makes money, CIT takes a substantial chunk.
EVMS administrators would like to eliminate the middleman as often as possible.
David Thiel, vice president of administration and finance, said the school will work with a patent counsel to do the initial investigation.
``We've invested in the scientist, they've invested in the medical school, so let's keep it in-house,'' said Thiel.
EVMS still will rely on CIT and other technology development firms at times, particularly with some of the more expensive projects.
Acquiring and marketing a patent can cost $20,000 or more, said Cooke. ``We can't afford to take chances like that.''
It's impossible to estimate how much - if any - money the school will make by taking on the work, administrators say. Very few patents ever become profitable, said Cooke.
``I'm not sure CIT's made any money off of us,'' said Thiel. ``We're not doing this because we missed the golden goose one time.''
Roughly 5 percent of the school's money comes from patent research, but much of that is from grants to develop ideas, not revenues from sale of inventions, administrators say.
EVMS scientists might never develop a financial blockbuster. ``You can't tell someone: `Come up with a brilliant idea,' '' Cooke said.
But you never know when someone will hit the jackpot, and, if it happens, the school should be ready to capitalize on it. Suppose, said Thiel, one of your scientists found a cure for diabetes?
``You're talking about a home run. You're talking about millions and millions of dollars.'' ILLUSTRATION: Color photo
LAWRENCE JACKSON/Staff
EVMS doctors developed an appendix-grabbing device that could be
sold to hospitals, and benefit the school.
by CNB