Wake Forest Ranks 19th in Nation in Licensing Revenues
WINSTON-SALEM, N.C. – Wake Forest University ranked 19th in the nation among U.S. universities in licensing revenues in fiscal year 2001, according to the annual licensing survey by the Association of University Technology Managers (AUTM).
Licensing revenues at Wake Forest in 2001 totaled $9.39 million. Spencer Lemons, director of Technology Asset Management for Wake Forest and a former AUTM vice president, said the 2001 figures were the latest national figures available. He said AUTM was the only group gathering such figures from across the United States.
Lemons said that when the 2002 survey is completed next year, Wake Forest likely will climb even higher in the rankings, because its licensing revenue for fiscal year 2002 jumped to $17.9 million. And with three weeks to go, licensing revenues for FY 2003 already exceed $19 million.
"These licensing revenues are one measure of the creativity and ingenuity of the Wake Forest faculty," said Richard Dean, M.D., president and chief executive officer of Wake Forest University Health Sciences. “Our ability to forge relationships with industry to bring our research directly to the public through new products is just one reason why the Piedmont Triad Research Park has a good chance of being successful."
Dean pointed out that revenues from licensing "provide much needed funds to help finance research and education at the medical school."
The money is used to fund further research, hire additional faculty and staff, and purchase new research equipment.
The licenses include 10 products approved by the U.S. Food and Drug Administration that already are on the market and another 10 to 12 products that are in use that don''t require FDA approval, Lemons said. “Helping to create products and services that benefit the community is what it’s all about. These products help to diagnose and treat disease or injury, train new doctors, assist in the discovery of new drugs. It’s a win-win for everyone.”
Lemons said Wake Forest ranked third in the Southeast behind Florida State University, with $64.1 million and the University of Florida, with $28.6 million. Florida''s big revenue generator, among a number of products, is Gatorade; Florida State''s revenues come primarily from the cancer drug, Taxol.
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