COMSATS University Islamabad (CUI) signed an IP Commercialization agreement with Cotton Craft Pvt. Ltd., a local industry partner.
The agreement will address the ongoing collaborative research on wound healing and production of synthetic skin, the first of its kind in the country. The agreement is a step forward towards knowledge economy expected to benefit the society with sustainable industrial growth and innovative local products.
CUI a public sector varsity of the Ministry of Science and Technology, has an active research culture and is ranked among the top Pakistani universities on all major international academic rankings including the Time Higher Education Ranking, UK, Shanghai Academic Ranking of World Universities (ARWU), China and QS World University Rankings, UK.
CUI & Cotton Craft joined hands together through a formal agreement signing held at the Islamabad campus of the earlier on Tuesday, 8th January. The agreement is expected to commercialize a wound care application, using de-oxy sugar releasing materials that promote blood vessel growth and reducing the overall time for wounds to self-heal. Dr. Muhammad Yar, Associate Professor, Interdisciplinary Research Centre in Biomedical Materials (IRCBM), CUI Lahore is the principal researcher of the project.
Prof. Dr. Raheel Qamar, Rector CUI and Mr. Shahid Akhter, Chairman CC, in their joint message appreciated the efforts of researchers, IRCBM, the CUI Office of Research, Innovation and Commercialization (ORIC), as well as respective teams in Cotton Craft for technology commercialization as well as undertaking intense negotiation leading to the agreement. Prof. Dr. Raheel Qamar said that CUI being the premier research university of Pakistan feels proud to collaborate with the local industry to realize technologies that have a wider socio-economic impact.
The agreement is the first of the kind, CUI has undertaken with a leading manufacturer from the local industry in Pakistan, while CUI has already reached another similar agreement with an international industrial partner and is currently negotiating two other technology licensing agreements. Mr. M. Raza Ahmad Khan, GM ORIC said that universities are looking for a broader support framework from the government in form of tax breaks to encourage the local research commercialization. The project work is expected to be undertaken at CUI Lahore Campus.