Case licenses nanotechnology to Cleveland Nanocrystals
License to local start-up will enhance its portfolio of intellectual property
Case Western Reserve University has completed an agreement with Cleveland NanoCrystals, Inc. (CNC) to license a broad portfolio of nanomaterials technology with the potential to improve the performance of a variety of materials used across a wide range of industries.
The technology licensed from the university relates to a variety of nanocrystals based on titanium dioxide, copper sulfide, and other materials that can be used in applications ranging from medical imaging to paints and coatings to solar cells.
The technology was developed by Clemens Burda, assistant professor in Case’s department of chemistry, and co-founder of CNC. The university received an undisclosed equity interest in the company as part of the licensing agreement.
Cleveland NanoCrystals began in June 2004, growing out of a meeting between Burda and entrepreneur Donna Richardson at Research ShowCASE 2004, the University’s annual event highlighting research at the institution. CNC is a portfolio company of Case Technology Ventures, the university’s internal pre-seed stage investment fund, and received an investment from the fund last summer.
“We are delighted to have secured exclusive rights to these exciting nanomaterials,” said Donna Richardson, president and co-founder of CNC. “Case’s expertise in nanotechnology makes it an excellent partner for Cleveland NanoCrystals, and its technology transfer office has been wonderful to work with. CNC now has the opportunity to establish a powerful intellectual property base allowing it to establish a substantial technology platform and achieve significant commercialization success.”
Nick Frollini, assistant vice president for technology transfer and managing director of Case Technology Ventures noted, “This agreement with Cleveland NanoCrystals represents the next logical step as we work to help create value in this new company. It is yet another example of our continued commitment to work with, and create, companies in Ohio so that the results of research conducted at Case will benefit all Ohioans.”
About Case Western Reserve University
Case is among the nation's leading research institutions. Founded in 1826 and shaped by the unique merger of the Case Institute of Technology and Western Reserve University, Case is distinguished by its strengths in education, research, service, and experiential learning. Located in Cleveland, Case offers nationally recognized programs in the Arts and Sciences, Dental Medicine, Engineering, Law, Management, Medicine, Nursing, and Social Work. http://www.case.edu.