Commercialization of Innovations

Successful commercialization of biomedical technologies is a multifaceted process that initiates from a concept that solves an unmet medical need to the successful design and development of the idea through proof of concept, through bench, animal and finally human testing, regulatory approvals and ultimately product launch.

The entire process can take from 4 to over 15 years from concept to commercialization, depending on the complexity of the medical device, biologic or pharmaceutical and can cost from hundreds of thousands of dollars to hundreds of millions of dollars to well over $1 billion.

The standard development process followed by the AMIs increases the probability of successful commercialization and also increases the potential return at exit because of advancement of the products using the ability to leverage experienced development experts following proven processes. The ability to reduce the risk associated with the development of compelling biomedical technology requires demonstrating the technical, clinical, and commercial feasibility of the concept.

The development of these technologies with undiluted capital means that the university and their researchers will enjoy increased value from their efforts.