Vanderbilt's Earnings from Tech on Rise

By: Associated Press
By: Associated Press

NASHVILLE, Tenn. (AP) — Vanderbilt University officials say earnings from technology commercialization has more than quadrupled in the past three years, bringing in more than $24.5 million in the 2013 fiscal year.

The Tennessean reported that the earnings growth reflects the university's renewed focus on turning research into commercialized products.

The school has reached licensing agreements in the past year with Bristol-Myers Squibb to develop new drugs for Parkinson's disease and AstraZeneca to develop drugs for schizophrenia and Alzheimer's disease. The university also partnered with Parker Hannifin Corp. to commercialize a lightweight, mechanical exoskeleton technology.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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