SCRA and TAO Life Sciences Announce Intellectual Property Initiative
SCRA Technology Ventures and TAO Life Sciences Inc. today announced an initiative to accelerate the commercialization of innovative life sciences technologies from SC universities and industry laboratories. TAO Life Sciences will select the standout technologies from research labs in SC that fill unmet needs in the marketplace and collaborate with SCRA to bring these to market, ultimately bringing innovative technologies from the laboratory to customers.
“We are excited to build upon our strong relationships in the South Carolina university communities and to help to further advance their innovative potential," said Mark Chandler, CEO of TAO. "Drawing on our investment, development and commercialization capabilities, we anticipate advancing many technology projects over the next several years with SCRA.”
“SCRA has a long track-record of helping both academia and industry move technologies from the laboratory to the market,” said SCRA CEO Bill Mahoney. “We are eager to incrementally assist South Carolina universities to help move innovative ideas and high-tech products to commercialization through this initiative, which should accelerate our mission of growing the Knowledge Economy in South Carolina. We look forward to a successful relationship with TAO Life Sciences.”
About SCRA and SCRA Technology Ventures
SCRA Technology Ventures helps innovative companies grow and develop new technologies, creating jobs and advancing the Knowledge Economy throughout South Carolina. It provides support and mentoring through its flagship SC Launch program to early stage, start-up companies deploying $59 million to support over 279 high-tech, early-stage companies and directly investing over $13 million in South Carolina start-ups since 2006. It also supports commercialization and growth by facilitating the transfer of intellectual property and accelerating the transition of inventions to the marketplace. SCRA Technology Ventures also invests in more established companies through its Stage 2 affiliate.
Multiple economic impact studies show SCRA's cumulative output on South Carolina's economy to be over $14 billion, and that the company has helped create approximately 15,000 technology-related jobs in the state, with annual wages averaging between $55,000 and $77,000.
TAO Life Sciences, Inc. (dba SCTAO) invests in and applies enabling skills to scientific and clinical innovations to develop products that will make a difference in peoples' lives and capture the markets of tomorrow. TAO infuses early stage innovations with the needed investment, intellectual property strategy, development or commercialization capabilities that often stifle many medical innovations. TAO Life Sciences is building a pipeline of promising medical device and life science innovations that will impact global healthcare markets and improve the efficiency and costs of care. TAO's principals have successfully brought medical device, diagnostic, therapeutic and other products to market over the past twenty years. The company has offices in South Carolina, Atlanta and Philadelphia.
Micki Howard, 843-760-3329