MSU Ranks High in Number of Patents and Royalties from Innovations

Michigan State University horticulture professor James Hancock has bred and patented several new varieties of blueberries. They are now among the university most proftiable patents, bringing in about $1 million a year in royalties.

According to excerpts from the article:

"Universities do an enormous amount of patenting," said John Vaughn, executive vice president of the Association of American Universities, who has been following the issue for schools.

The number of patents received by the 157 research institutions surveyed by the Association of University Technology Managers totaled 3,258 in 2007.

MSU ranked 24th in the number of patents received (35) and 41st in the amount of royalty revenue ($5.6 million).

The school was among the top royalty earners for years when it enjoyed the returns on carboplatin and cisplatin, two cancer-treatment drugs invented at MSU.

Although the patents on both drugs have expired, the school still is reaping the benefits from the more than $300 million it collected in royalties. MSU used some of the money to create an endowment that funds the office that helps researchers get patents and then license their inventions.

Read the full article here.