The journey from lab to market: with Parion Sciences Inc., a University of North Carolina scientist is putting a promising discovery on the path to commercialization.

• Author: Robbins, Larry
• Position: Wyrick Robbins Yates & Ponton LLP

Commercialization of university-based technology is as much an art form as a science. Success depends first upon university administration providing a supportive, nurturing environment for early-stage ventures. Also needed are globally recognized researchers leading major research within a university.

At the University of North Carolina at Chapel Hill, Richard Boucher is such a leader. His research resulted in a new company--Parion Sciences Inc.--and a promising innovation now on the path to commercialization.

The university research labs under Boucher's guidance are focused on finding a cure for cystic fibrosis, a genetic disease that affects more than 30,000 children and adults in the United States. The research from his labs is recognized for its novel approach to therapies designed to cure this deadly disease.

The road to commercialization of a university-based technology almost always passes through the university's technology-transfer office. At UNC, the tech-transfer office evaluates innovations made by employees and determines which will receive funding to protect the university's ownership of the intellectual property. Protection, for the most part, is ensured through complex patent filings.

With the increasing importance placed on commercializing university research, technology-transfer departments have responsibilities beyond coordinating patent protection. They include educating the university community about entrepreneurial opportunities and encouraging employees with promising technologies to explore their potential for commercialization. Tony Waldrop and Mark Crowell, UNC executives charged with developing university intellectual property, have brought support and focus to this process. Parion is one of their shining stars.

It all started when Boucher contacted Crowell and requested that the university grant a license to Parion for a promising compound discovered in Boucher's labs. The exclusive license formed the intellectual-property foundation of the company, and control of the compound was essential for fund-raising. Before granting the license, however, the technology-transfer office required Parion to develop a business plan that would demonstrate a high probability of success in venture funding. University resources are limited, so the technology-transfer office must bet on the best opportunities. To determine which proposed transactions to support, the office looks to the founders and the business plan for guidance.

...