The University of Queensland has announced it will rationalise its commercialisation arrangements by transferring the commercialisation functions of IMBcom, the technology transfer company for the Institute for Molecular Bioscience (IMB), into those of UniQuest, the largest of UQ's commercialisation companies.

 

After reviewing the circumstances of the company, the Directors of IMBcom, in consultation with The University of Queensland, have decided to restructure the operations of the company.

 

“Economies of scale are vital in a tight funding climate, and the bespoke model of a small company dedicated to one institute was unsustainable,” IMBcom CEO Dr Peter Isdale said.

 

Dr Isdale will be stewarding the transfer of the commercialisation functions, including the management of its intellectual property pipeline, to UniQuest over the next six months.

 

In its 11-year existence, IMBcom has created 12 biotech start-up companies which have sourced investments of more than $100M, and contracted $25M in research funding into the IMB laboratories.

 

IMBcom has also “incubated” more than 40 trained professionals who have entered the biotechnology industry in technical, administrative and commercial roles.