BioVentures and the University of Arkansas for Medical Sciences (UAMS) have committed to a set of technology licensing principles that will allow for broad and equitable access to UAMS discoveries during the Global COVID-19 pandemic.
The COVID-19 Technology Framework was developed and established through a cooperative effort by Stanford University, Harvard University, and the Massachusetts Institute of Technology. This framework provides a model by which critically important technologies that may help prevent, diagnose, or treat COVID-19 may be deployed for the greatest public benefit in the shortest period of time.
“Consistent with UAMS’s mission to improve the health, healthcare, and well-being of Arkansans and of others in the region, nation, and world, BioVentures is committed to translating and accelerating UAMS innovations into health improvements,” said Nancy Gray, PhD, BioVentures president. “The seriousness and urgency of the COVID-19 public health crisis means that today we cannot wait for tomorrow. We need to help now in every way we can.”
Gray said that with the best interests of the public in mind, BioVentures is glad to join in this cooperative effort with Stanford, Harvard, and MIT and to commit to the guidelines stated in the framework below.
COVID-19 Technology Access Framework
“We strongly believe that while intellectual property rights can often serve to incentivize the creation of new products, such rights should not become a barrier to addressing widespread, urgent, and essential health-related needs.
“To address the global COVID-19 pandemic, we are implementing technology transfer strategies to allow for and incentivize rapid utilization of our available technologies that may be useful for preventing, diagnosing, and treating COVID-19 infection during the pandemic.
“To achieve our goal, we commit to the following guidelines:
"1. We are committed to implementing COVID-19 patenting and licensing strategies that are consistent with our goal of facilitating rapid global access. For most types of technologies, this includes the use of rapidly executable non-exclusive royalty-free licenses to intellectual property rights that we have the right to license, for the purpose of making and distributing products to prevent, diagnose, and treat COVID-19 infection during the pandemic and for a short period thereafter. In return for these royalty-free licenses, we are asking the licensees for a commitment to distribute the resulting products as widely as possible and at a low cost that allows broad accessibility during the term of the license.
"2. We are committed to making vigorous efforts to achieve alignment among all stakeholders in our intellectual property, including research sponsors, to facilitate broad and rapid access to technologies that have been requested to address the COVID-19 pandemic.
"3. We are committed to making any technology transfer transactions related to addressing the COVID-19 pandemic our first priority, and to minimize any associated administrative burdens.”
BioVentures is a technology commercialization organization and startup incubator focused on promoting a biomedical technology industry for Arkansas and translating research into products that benefit human health.