WEST LAFAYETTE, Ind. — Purdue University’s Student-Managed Venture Fund, administered by the Burton D. Morgan Center for Entrepreneurship and the Krannert School of Management, is investing $100,000 in Kylin Therapeutics Inc.

The funding is part of a $2 million round of financing led by In-vivo Ventures and Golden Pine Ventures. The funds will help advance Kylin Therapeutics’ lead cancer therapy to the marketplace.

Kylin Therapeutics, located at Purdue Research Park, is in the preclinical stage of commercializing a technology called pRNAi. Based on a Purdue discovery, the technology uses RNA and a natural process called RNA interference (RNAi) to target and “turn off” disease-causing genes.

“We believe the pRNAi platform has superior functionality and will be able to be delivered systematically,” said Eric Davis, Kylin’s president and CEO.

The $100,000 investment stems from a degree program for Krannert MBA students. They analyzed Kylin’s business plan and decided to invest in the Indiana company. Stephanie Williams is a first-year MBA student in Krannert who participated in the due-diligence process on Kylin.

“Our team had the opportunity to meet with the Kylin management team while they assisted with our process of data collection,” Williams said.

Davis said the Student-Managed Venture Fund and Burton D. Morgan Center for Entrepreneurship are assets in economic development not only for Purdue and West Lafayette, but also for the entire state.

“Indiana entrepreneurs and startup company executives seek resources to strengthen their own network and to develop financial support,” Davis said. “These resources and others make the city and state very attractive to high-tech and life sciences entrepreneurs and business executives.”

Kylin was awarded the funding in the 2008-2009 academic year. Davis said the company will use the funding to develop its lead cancer treatment.

“Research in this area shows promise in treating prostate cancer, ovarian cancer and other diseases,” he said.

With current assets of $130,000, the Student-Managed Venture Fund has $25,000 for its next planned investment in fall 2009, said Purdue professor Kenneth Kahn, the Avrum and Joyce Gray Director of the Burton Morgan Center.

“The Student-Managed Venture Fund serves as an investment vehicle to spur commercialization of Purdue research,” Kahn said. “Just as importantly, the fund is an educational vehicle to provide hands-on understanding of venture capital and investment for the university’s entrepreneurially minded students.”

About Burton D. Morgan Center for Entrepreneurship

The Burton D. Morgan Center for Entrepreneurship is Purdue’s interdisciplinary hub for entrepreneurship. Through its sponsored initiatives, including the Certificate in Entrepreneurship and Innovation, Technology Realization Program, Entrepreneurial Leadership Academy and Business Plan Competitions, the center aims to stimulate entrepreneurship at Purdue and serves as a state, regional and national resource. Located in Discovery Park, the Burton Morgan Center leads Purdue’s Kauffman Campuses Initiative and plays a key role in facilitating business development for emerging concepts and technologies stemming from Discovery Park research.

About Kylin Therapeutics

Kylin Therapeutics Inc. is a biotechnology company that employs an RNA nanoparticle technology platform called “pRNA” to exploit the enormous potential of RNA interference (RNAi) for treatment of many common diseases. This platform has potential to meet the huge market opportunity for treating cancer and other diseases with RNA-based therapeutics. The unique capabilities of the platform have enabled Kylin to overcome the most significant challenges in the development of RNA-based therapies.

WEST LAFAYETTE, Ind. — Indiana high school administrators and teachers have until April 24 to nominate juniors and seniors for the third annual Purdue Research Park Entrepreneurship Academy.

Students accepted into the weeklong program will learn what it is like to create a business from the concept to raising funds and creating prototypes. At the completion of the program, student teams will be judged by economic development experts on how well they developed business case studies, crafted marketing plans and planned to raise venture capital.

Members of teams with the highest scores will receive college tuition vouchers to pursue a degree in higher education. All Purdue University campuses and Ivy Tech Community College campuses in Indiana accept the vouchers, which range from $100 to $500.

Timothy Peoples, director of the Purdue Research Park Entrepreneurship Academy, said that for the first time nominees will have to include a writing sample. Students should describe what they hope to gain from the weeklong academy in 250 words.

Nomination forms can be downloaded from the academy’s Web site at http://www.purdueresearchpark.com/academy/nomination.asp. There is no fee to nominate a student, and there is no limit to the number of students that can be nominated from a single school.

Sponsors for the 2009 program include the Alfred Mann Institute for Biomedical Development at Purdue University, Sign Art Etc., Purdue Employees Federal Credit Union and Purdue Research Foundation. Peoples said additional sponsors are being sought.

The weeklong academy will be June 21-26 on Purdue’s West Lafayette campus. During the program, students will work with successful high-tech entrepreneurs, business experts, industry leaders, Purdue faculty and Purdue Research Foundation staff.

INDIANAPOLIS, Ind. — The first tenant company of the Purdue Research Park at AmeriPlex-Indianapolis was announced by Purdue University officials Wednesday (Jan. 21) during a dedication ceremony for the 55,000-square-foot incubator that will help high-tech entrepreneurs create new businesses, develop new technology and expand life sciences research in Indiana.

“We chose to locate the research park in Indianapolis because it is in the center of our statewide technology highway,” Purdue President France A. Córdova said. “From northwest in Merrillville, to southeast in New Albany, our research parks continue to advance the state as a hub for innovation and discovery. This location near the new airport will provide additional incentive for national and international companies to choose Indiana as the place to do business.”

Córdova told the nearly 300 people attending the dedication that high-tech telecommunications company FlamencoNets Inc. will be the first business housed in the new research park.

FlamencoNets had previously be an affiliate company at the Purdue Research Park at West Lafayette, Ind. An affiliate company is one that is a member of the research park but is not physically based there.

“I joined the Purdue Research Park last year but I wanted to keep my company in the Indianapolis area, so I’ve been waiting for the new research park to open so I could move in,” said Raul Flamenco, founder and president of FlamencoNets. “I appreciate the amenities I’ve received like entrepreneurial conferences and marketing assistance that I’ve had from being affiliated with the Purdue Research Park, and I look forward to having office space in the new facility.”

The new $12.8 million technology center in the Purdue Research Park at AmeriPlex-Indianapolis will accommodate up to 75 businesses and create 1,500 jobs with an average annual salary of $54,000. Most of the new jobs will be in the life sciences and high-tech areas.

The new facility is located at 5225 Exploration Drive along the I-70 corridor and near the midfield terminal of the Indianapolis International Airport. The 78-acre site was purchased by the Purdue Research Foundation and Holladay Properties, a South Bend-based national real estate development company. The Purdue Research Park at Ameriplex-Indianapolis is the centerpiece of the latest 400-acre phase of AmeriPlex-Indianapolis, a nearly 1,500-acre development.

The city of Indianapolis provided a $5 million grant to support the development.

“Collaborative measures like the partnership with Purdue Research Park and Holladay Properties are key in cultivating economic development within our community and keeping Indianapolis competitive in the business world,” said Indianapolis Mayor Greg Ballard. “This facility and the expected growth of the area in the wake of the opening of the new Indianapolis International Airport will set the stage for Indianapolis’ future growth.”

The Purdue Research Park at AmeriPlex-Indianapolis will include:

• A 100,000- to 150,000-square-foot industrial flex building.
• A 50,000- to 70,000-square-foot multistory office building.
• The potential for four additional buildings for companies to accelerate business opportunities.
• A 300-bed, six-story hotel with a 30,000-square-foot conference center.
• Three sites for restaurants or retail shops.

The university’s other established parks are the Purdue Research Park in West Lafayette, Purdue Research Park in Merrillville and the Purdue Research Park in New Albany.

“The Purdue Research Parks are situated along I-65 from northwest Indiana to southeast Indiana,” said Joseph B. Hornett, Purdue Research Foundation senior vice president, treasurer and COO. “We anticipate the same level of success at the Indianapolis park as we have experienced at our other parks in the state. Combined, the parks support nearly 200 companies and provide jobs for more than 3,200 people.”

Purdue previously partnered with Holladay Properties to develop the Merrillville-based Purdue Technology Center of Northwest Indiana.

“This is the second major partnership we have had with the Purdue Research Foundation,” said Doug Hunt, senior vice president of development for Holladay Properties. “With the additional plans to further develop the area with more business offices, restaurants and retail space, we know that this endeavor will not only strengthen our partnership with Purdue but also will support the economic development of the city and state.”

In addition to assisting with the Indianapolis site, the Indiana Economic Development Corp. has worked with Purdue on its other technology parks around the state.

“Indiana has a strong commitment to economic development,” said Mitch Roob, chief executive officer for the Indiana Economic Development Corp. “We support the Purdue Research Parks and similar endeavors through the 21st Century Research and Technology Fund and Certified Technology Parks program. Both help attract high-tech businesses to Indiana.”

WEST LAFAYETTE, Ind. — Purdue University and law firm Bose McKinney & Evans LLP will offer two free workshops this month focused on the legal issues of intellectual property involving trademarks, copyrights, patents and trade secrets.

The first session, from 9-11 a.m. Jan. 20, is planned at Discovery Park’s Burton D. Morgan Center for Entrepreneurship, Room 121. The workshop will be repeated from 9-11 a.m. Jan. 27 at Purdue Research Park’s Conference Center, 3000 Kent Ave.

The workshops, titled “Minimize Your Legal Costs While Maximizing Your IP Protection,” are free, but reservations are required. To register, contact kraymer@boselaw.com, (317) 684-5293. For more information, go online to http://www.boselaw.com/events-seminars.cfm?event_id=21.

Attorneys at Bose McKinney & Evans will provide basic information on various types of intellectual property such as trademarks, copyrights and patents, said event co-organizer Julie Goonewardene, director of business development for Purdue Research Parks and Discovery Park.

Presenters will outline how to legally protect intellectual property and when you should consider consulting an attorney or patent agent. In addition, attorneys will discuss the importance of protecting and respecting intellectual property rights in artistic works and marketing initiatives.

Jennifer Walker of Bose McKinney & Evans said the workshops are targeted for entrepreneurs, corporate executives, business owners, scientists, engineers, professors, technology transfer officers, marketing professionals, designers, technology transfer officers and students.

WEST LAFAYETTE, Ind. — Quadraspec Inc. officials announced Tuesday (Sept. 2) that Stefan Gruenwald, M.D., Ph.D., has joined the company as chief scientific officer.

“Stefan will be an instrumental asset in providing exemplary scientific and strategic leadership and in developing Quadraspec’s technology and scientific work force,” said Jonathon Bradley, director of staffing at Quadraspec, a Purdue Research Park-based company.

Dr. Gruenwald is responsible for Quadraspec’s intellectual property, scientific development strategy, and research and development oversight.

He received graduate and doctorate degrees from Johann Wolfgang Goethe University in Frankfurt, Germany. Since 2004 he has been the adviser to many small startup companies in the biotech and nanotech arena and has mediated talks with angel investors and venture capital groups.

“Stefan’s knowledge as a physician and a researcher also gives us the capability to link our development to customer requirements,” said Richard Adelman, Quadraspec president and COO. “These unique combinations of skills and experience are a tremendous addition to the Quadraspec team. We are pleased he has decided to relocate from San Diego to West Lafayette in order to join us.”

About Quadraspec

Quadraspec Inc. commercializes the Bio-CD System using Spinning Disc Interferometry™ (SDI™), a patented direct detection diagnostics platform for high-throughput, label-free, highly sensitive and multiplexed assays for protein analysis. Quadraspec products include an SDI™ Bio-CD reader capable of reading more than 750 samples per hour; a fully automated sample processor capable of either 100 or 250 samples per hour; a workstation with customized software packages; and Assay Development Bio-CDs for partners and researchers to develop or perform assays and diagnostics.

About Purdue Research Park

The 725-acre Purdue Research Park (http://www.purdueresearchpark.com) has the largest university-affiliated business incubation complex in the country. The park is home to more than 140 companies. About 90 of these firms are technology-related and another 39 are incubator businesses. The park was ranked No. 1 in 2004 for university- affiliated research parks and received the 2005 Outstanding Commercialization Award, both from the Association of University Research Parks. The park’s companies also have received numerous recognitions, including a 2006 MIRA Award: Innovation of the Year for Purdue Research Park/Quadraspec Inc. and a 2005 CoreNet Global Innovators Award finalist. The Purdue Research Park is part of the Purdue Research Foundation, a private, nonprofit foundation created to assist Purdue University in the area of economic development. In addition to the Purdue Research Park in West Lafayette, the foundation has established or is currently constructing technology parks in other locations around Indiana including Merrillville, New Albany and Indianapolis.