In a recent three-hour session at a Chicago hotel room, the University of Wisconsin's technology transfer office hammered out the final details of licensing deal that granted Durham, NC-based Inspire Pharmaceuticals the right to use several patents to develop glau coma treatments.
Wisconsin received a one time payment of $150,000 and a promise of up to $1.8 million more if Inspire meets certain milestones. The university would also receive royalties from any sales of products based on the patents, according to Inspire's filing with the US Securities and Exchange Commission. Wisconsin's policy is to share 20% of gross revenues from a project with the university's inventors, this case, Paul L. Kaufman, professor and chairman ophthalmology and visual sciences. The patents are based on the research of Kaufman and Benjamin Geiger, professor of molecular, cell, and tumor biology and dean of biology at Weizmann Institute in Israel.
The deal, which was ...
