Not all discoveries from basic research can be used to fuel a start-up biotech venture. Often, it makes better (financial) sense to simply license the intellectual property. Last week, for example, Torrey Pines Institute for Molecular Studies entered into an exclusive worldwide license agreement with Catalyst Biosciences, Inc. that would grant Catalyst the use of the Institute's seminal intellectual property covering protease engineering, selection and optimization. Proteases are naturally-occurring, protein-degrading enzymes that are useful as biotherapeutics against inflammation, cardiovascular diseases and other disorders.

According to TPIMS President and director Richard Houghten,

"This agreement represents an example of how the Institute's fundamental technologies are being broadly applied to ground breaking science and drug discovery. The protease selection technology should allow Catalyst to rapidly identify and advance protease biologic leads in a manner analogous to high-throughput small molecule lead discovery and optimization."

The bottomline: To take the fastest route to bringing the results of federally-funded research into some useful form that benefits the public.

Read the press release here.