From Lab to Market: The Process of Commercializing Medical Technologies

Book excerpt: This guide is written for biomedical innovators seeking to improve the lives of patients bytranslating innovative technologies into medical technologies. The contents are focusedprimarily on business principles that have been distilled from hundreds of projects as part ofthe Coulter Foundation's Translational Partners Program and Coulter Translational RewardAwards. To date, the Foundation has funded more than 600 projects, which in the first 11 yearshave raised close to $6 billion in funding.The course Concept to Clinic: Commercializing Innovation (C3i), offered by the NationalInstitutes of Health (NIH), forms the basis of this Guide. This course has helped hundredsof university innovators, engineers, clinicians, and scientists learn how to commercialize thetechnologies they have developed in a very demanding market. The C3i program is basedon the Coulter commercialization process, an approach to biomedical research translationdeveloped and continuously refined by the Foundation in collaboration with its academicpartners across the country.