The benefits of technology transfer and commercialisation were highlighted last week with the presentation of $1.5 million to The University of Queensland by Comquest Pty Limited.
The $1.5 million is the University's share of commercial income related to technology developed by Professor David Doddrell and his team at the Centre for Magnetic Resonance based at UQ's St Lucia campus.
In 1991, UQ's technology transfer company UniQuest Pty Limited successfully organised $5.2 million funding for magnetic resonance research, and established Comquest to oversee marketing and commercial activities.
A patented technique for purifying the imaging field of an Magnetic Resonance system was licensed by UniQuest to GE Medical Systems and Siemens in 1996, and today generates a total royalty stream of approximately $2m per annum for the syndicate investors and University parties.
In addition, the Centre developed new Nuclear Magnetic Resonance products for use in analytical applications that it continues to manufacture and supply to export markets.
The cheque for $1.5 million was presented by the Chairman of the Comquest Board, Dr Nick Girdis to The University of Queensland Vice-Chancellor, Professor John Hay at a ceremony on February 22.
Professor Hay said the University extends its great appreciation and thanks to Professor Doddrell and his team for 10 years of excellence in research and in building relationships with commercial partners.
'Success stories such as this have been important in establishing The University of Queensland as the number one university in Australia in attracting commercially-oriented research funding,' Professor Hay said.
For more information contact Peter McCutcheon at UQ Communications on 07 3365 1088 or p.mccutcheon@mailbox.uq.edu.au
