As the QED program began its seventh round in May 2014, one of its newest academic partners, Penn State University, expanded its involvement from the Medical College at Hershey to include its main campus at University Park. Since its launch in 2009 as the nation’s first multi-institutional proof-of-concept program for the life sciences, QED has screened 350+ submissions from researchers at partner institutions in Pennsylvania, New Jersey and Delaware and helped researchers develop 65+ proof-of-concept plans. The outcome to date? Six licensed technologies that have the potential to positively disrupt the healthcare landscape.  

QED
QED

As the QED program began its seventh round in May 2014, one of its newest academic partners, Penn State University, expanded its involvement from the Medical College at Hershey to include its main campus at University Park. Since its launch in 2009 as the nation’s first multi-institutional proof-of-concept program for the life sciences, QED has screened 350+ submissions from researchers at partner institutions in Pennsylvania, New Jersey and Delaware and helped researchers develop 65+ proof-of-concept plans. The outcome to date? Six licensed technologies that have the potential to positively disrupt the healthcare landscape.  

QED’S SECRET WEAPON
The 100+ individuals in our business advisor network are QED’s secret weapon. These serial entrepreneurs and product development professionals have extensive experience working with academic researchers and recognize the inherent challenges in bringing an idea from the lab into the marketplace. Four of our longest serving advisors have formed a steering committee, helping to manage the growing network. Together, they have a combined 124 years of experience: Dr. Jim Ballance is a seasoned biotech executive, Dr. David Hesson’s background is in pharmaceutical discovery and development, Jim Harris specializes in operations and brand marketing, and Lorraine Marchand specializes in entrepreneurship in the healthcare sphere. This combination of technical and business experience helps the academic investigators to identify opportunities they may have never realized. It’s these epiphanies that make our business advisor network invaluable.

ONE STEP CLOSER TO MARKET
Four promising technologies are one step closer to the marketplace thanks to funding from the sixth round of the QED Proof-of-Concept Program. Life science and health IT researchers from Drexel University, Temple University and Rutgers, The State University of New Jersey, received a total of $600,000 through the QED program in December 2013 to develop a potential drug therapy for Lou Gehrig’s disease; validate a new therapeutic compound for pancreatic cancer; develop software to analyze EEG readings and guide diagnosis; and develop software to improve communications skills of healthcare professionals.

FOLLOW-ON FUNDING
What do the Ben Franklin Technology Development Authority, the Commonwealth’s Discovered and Developed in PA program, Pennsylvania Department of Health, PIDC, U.S. Economic Development Administration, Wexford Science + Technology and the William Penn Foundation have in common? Together they and the QED recipients’ academic institutions have provided $3.6 million in awards to QED participants. This funding is dedicated to de-risking promising technologies and encouraging follow-on investments. So far it’s working! As of May 2014, the 20 funded projects have attracted $11.7 million in follow-on funding.