Sep 3 2008
LGE Execs, an Austin based firm formed to help companies and organizations grow and succeed, today announced a licensing agreement with the Texas Tech University System (TTUS). The agreement will allow LGE Execs to help commercialize TTUS technologies and innovations, which provide advancements in the agriculture, health and life science industries.
The technology license agreement covers a number of the universities' unique technologies and innovations, including improvements in livestock reproduction and a treatment for Alzheimer's disease. Details on these and other technologies are expected to be disclosed later this year. LGE Execs and TTUS are also evaluating other licensing opportunities in the areas of alternative energy from wind, solar and bio fuels, cancer treatments, nanotechnology, computer sciences, and industrial materials.
"Over the years, our academic leadership has generated a number of advancements that will improve the world around us," said David Miller, Vice Chancellor, Office of Technology Commercialization at the Texas Tech University System. "LGE Execs will provide us with the leadership and business experience needed to bring many promising technologies to the market."
Through the Technology Transfer program, LGE Execs works with dozens of universities and research institutions around the world to evaluate and bring to market commercially viable products that result from the intellectual capital developed in the laboratory or classroom.
Once the products are launched, LGE Execs provides assistance with interim or permanent executives to help manage all aspects of commercialization and business management including staffing, product development, manufacturing, marketing, distribution and fund raising. LGE Execs is currently working with dozens of universities in the U.S. and the U.K to bring their ideas to market.
"LGE Execs has worked with Texas Tech for several months to evaluate the technologies with the greatest market potential and the ability to positively impact the medical and agricultural communities," said Newt Hamlin, a Managing Partner at LGE Execs. "It is our job now to make successful businesses of these brilliant advancements."
As part of its efforts to commercialize the Texas Tech innovations, LGE Execs has begun negotiations for initial funding, mapped out a commercialization strategy and created an executive team to bring these technologies to market once funding has closed. LGE Execs and TTUS plan to include the original inventors in the development of technologies and, whenever possible, have the new companies located in West Texas. This will help grow the regional and local economies and provide fuel for further innovations.