12/08/08

Multi-million dollar grant to advance medical innovations in life sciences

KANSAS CITY, Mo.— The Ewing Marion Kauffman Foundation today announced an $8.1 million grant to the University of Kansas to establish the Institute for Advancing Medical Innovation, a unique life science proof-of-concept model that draws support from higher education, philanthropy and industry experts to move medical innovations from the lab to the market. To enhance the impact of the Kauffman Foundation’s support, the Kansas University Endowment Association will match the grant through contributions from other donors.

The Institute for Advancing Medical Innovation will focus on education and research that advances medical innovations, ultimately accelerating the number and quality of new drugs, medical devices and drug–medical device combinations from the bench to the bedside. The grant earmarks funding for the Institute for Pediatric Innovation (IPI), which funnels its drug development work through a partnership with KU, Kansas City’s Children’s Mercy Hospital and Beckloff Associates Inc.

The Institute will be guided by an advisory board of independent experts and staffed by experienced drug development and medical device leaders to create an unprecedented collaboration of resources and processes to support the Institute.

“The Institute’s formation represents lessons we have culled from years of studying the models that strengthen the ability to bring new inventions and products to market,” said Carl Schramm, Kauffman Foundation president and CEO. “We believe this Institute will become a world-class resource and help define best practices in moving innovation to the real world.”

The grant includes seed funds for up to 24 proof-of-concept projects per year. Based upon the recommendations from the advisory board, the Institute may progress with a varying number of projects from year-to-year. IPI already has identified three drug projects, which will be accelerated by the Institute during the next 12 months.

"We are honored to receive this grant from the Kauffman Foundation to enhance and streamline the incredible efforts taking place at the University of Kansas in discovery and development of medical innovations," said Scott Weir, PharmD, PhD, director, Office of Therapeutics, Discovery and Development at the University of Kansas Cancer Center.

Weir, a 20-year pharmaceutical industry veteran formerly with Marion Laboratories Inc., will head up the Institute as its director. He also serves on IPI’s Pharmaceutical Advisory Board and leads KU’s pediatric drug development efforts in support of IPI’s mission.

Weir joined KU almost three years ago to help the University’s efforts to achieve National Cancer Institute designation, assuming a role partially funded by the Kauffman Foundation. "These funds will allow us to advance discoveries of drugs, medical devices, and drug-device combinations from concept to patients, allowing us to make a greater impact on the health of our community."

In addition to its impact in the medical field, the Institute for Advancing Medical Innovation will serve as a national model for how philanthropy, industry and universities can collaborate to advance university innovations in life sciences.

“The University of Kansas and Kauffman Foundation share a commitment to innovation and a mission of service to the community,” said Chancellor Robert Hemenway. “This generous grant will help us find new treatments and cures and get them to the patients who need them. Lives will be changed and the health of our region and nation improved as a result of the work that will take place at the Institute.”

The grant also will enable expert faculty to educate the next class of drug and medical device development specialists by giving workshops and courses on the drug commercialization process.

"It's gratifying for us at KU Endowment to help the university advance the frontiers of knowledge," said Dale Seuferling, president of KU Endowment. "We're proud to partner with the Kauffman Foundation and look forward to attracting other donors to provide funding for this institute, which represents an unparalleled training opportunity for KU graduate and post-doctoral students."

About the Kauffman Foundation
The Ewing Marion Kauffman Foundation is a private nonpartisan foundation that works to harness the power of entrepreneurship and innovation to grow economies and improve human welfare. Through its research and other initiatives, the Kauffman Foundation aims to open young people's eyes to the possibility of entrepreneurship, promote entrepreneurship education, raise awareness of entrepreneurship-friendly policies, and find alternative pathways for the commercialization of new knowledge and technologies. It also works to prepare students to be innovators, entrepreneurs and skilled workers in the 21st century economy through initiatives designed to improve learning in math, engineering, science and technology. Founded by late entrepreneur and philanthropist Ewing Marion Kauffman, the Foundation is based in Kansas City, Mo. and has approximately $2 billion in assets.

About KU Endowment
KU Endowment is an independent, nonprofit organization serving as the official fundraising and fund-management foundation for the University of Kansas. Founded in 1891, it was the first foundation established at a public university in the United States. The support private donors provide help make KU a world-class institution. In fiscal year 2008, KU Endowment provided $112 million to the university.

About the Institute for Pediatric Innovation (IPI)
The Institute for Pediatric Innovation (www.pediatricinnovation.org) is a nonprofit organization that was formed to improve the health of children by increasing the availability of innovative medical products with the unique attributes required for pediatric care. IPI seeks to transform pediatric healthcare from a neglected orphaned market to a magnet for industry and investor interest. IPI is led by an experienced team of experts in licensing technology in pediatric medical care, commercializing medical technology, and marketing medical devices and pharmaceutical products. To date, IPI has received support from its consortium members along with the Ewing Marion Kauffman Foundation, Children's Medical Ventures, Inc., AGA Medical and Oxford Bioscience Partners.

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