Originally Published MX May/June 2004

BUSINESS NEWS

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Medical device companies looking to license new technologies being developed in the Pittsburgh region may have an easier time thanks to a newly formed enterprise development office. In late March, the University of Pittsburgh announced that it has created an organization to promote and manage entrepreneurial and business development opportunities that result from research in its six health sciences schools.

The move is expected to help the region's continued efforts to expand its advanced manufacturing, information technology, and life sciences industries. In a statement, University of Pittsburgh chancellor Mark Nordenberg said the initiative would have a substantial effect on the region's economy. "We are convinced that, over time, developments such as these will have great value as life sciences business generators," he said.