Geisinger partners with Bloomsburg University on technology transfer

May 1, 2006 DANVILLE — Geisinger Ventures is joining with Bloomsburg University to patent technology developed at these institutions and then transfer that to private companies through licensing agreements.

Bloomsburg University recently received a $200,000 Keystone Innovation Grant to share with Geisinger, a partner in the Greater Susquehanna Keystone Innovation Zone. The grants provide seed capital for faculty and students to conduct business planning and marketing analysis, prototyping, patent research and filing, intellectual property and licensing, and royalty agreements. Those new technologies can then be licensed to private companies and brought to market.

“The doctors and researchers of Geisinger Health System offer a tremendous resource for innovation that can improve lives and spur economic development. This grant will speed and enhance that process,” said Denise Prince, CEO of Geisinger Ventures.

“Bloomsburg University and Geisinger are now partners committed to increasing intellectual capital and licensing capabilities in the Susquehanna Valley,” added Bryan Allinson of Geisinger Ventures. “These initiatives will help grow jobs and technology companies in the region.”

James Matta, dean of the Bloomsburg University School of Graduate Studies, said, “It certainly is good to work with Geisinger, and we hope to promote further partnerships in the future. The KIZ grant will allow Bloomsburg University and Geisinger to develop our technology transfer expertise in a way that benefits the entire region.”

The funding will help license technology from start-up companies launched from Geisinger’s Weis Center for Research. Potential examples include drug discovery and molecular diagnostics.
Geisinger Health System, through Geisinger Ventures, is part of the Greater Susquehanna Keystone Innovation Zone with partners Bloomsburg University, Bucknell University, Susquehanna University, Columbia Alliance for Economic Growth and Ben Franklin Technology Partners Northeast PA.