UniQuest shows commercialisation success with $3 million cheque to UQ

UniQuest, The University of Queensland’s technology commercialisation company will today hand over a $3 million cheque to the University.

Managing Director of UniQuest David Henderson said the funding cemented UniQuest’s position among the world’s leading university technology commercialisation companies. The cheque comes from the proceeds of the commercialisation of UQ technologies.

“This cheque and UniQuest’s success in 2002 show that universities can have positive outcomes in the area of research commercialisation,” Mr Henderson said.

Chair of the UniQuest Board of Directors Norbury Rogers will present the $3 million cheque to UQ Vice Chancellor, Professor John Hay, at a meeting of the UQ Senate tonight (Thursday, March 20).

Mr Henderson said record revenue of $51.7 million was achieved in 2002 of which payments and provisions to the University and its staff exceeded $24 million.

“UniQuest’s record performance is tangible evidence of the successful commercialisation of University technology. It is a tribute to UQ’s foresight in establishing a technology commercialisation company and properly funding the commercialisation process,” Mr Henderson said.

In 2002 UniQuest also formed seven new companies, bringing the total number of companies formed to 48.

The new start-up companies established by UniQuest included QRxPharma Pty Ltd; a company formed to commercialise technology to treat pain and control bleeding. The $10 million raised by these technologies in 2002 is believed to be the largest single amount raised by an Australian university technology transfer company.

Media: For more information, contact UniQuest Managing Director David Henderson (telephone 07 3365 4037, email: d.henderson@uniquest.uq.edu.au) or Chris Saxby at UQ Communications (telephone 07 3365 2479, email: c.saxby@uq.edu.au).