The Minnesota Partnership for Biotechnology and Medical Genomics, formed in 2003, is a unique collaborative venture among the Mayo Clinic, University of Minnesota and State of Minnesota with the goal of positioning MN as a world leader in biotechnology and biomedical research that improves health and saves lives while offering economic advantages to the state. The collaboration has become a globally recognized model of innovation in the biomedical field, fostering research that improves the economy of our state, while targeting its most prevalent health conditions.
- From the legislature’s initial $2 million investment (matched by Mayo Clinic and the University) the Partnership has been a continuous success story with solid returns.
- Investments have helped Partnership investigators from the University and Mayo Clinic to attract over $136 million in new NIH grant funding.
- The NIH conservatively estimates that for every million dollars we receive in NIH research funding, at least 16 jobs are created.
|SNAPSHOT OF PARTNERSHIP ACCOMPLISHMENTS
|More than $175 million in external funding:
· More than $136 million in NIH grants
· $15 million in philanthropic contributions
· $5 million in private industry investment
· More than $20 million in additional grant funding from Partnership investments in critical infrastructure
|Research and Infrastructure Projects
|Awarded over $132,338,000 for 126 competitive and collaborative projects (leveraged into over 500 external grant awards)
|138 peer reviewed papers in scientific journals highlighting new discoveries by Minnesota scientists
|Intellectual Property Output/Commercialization
|· 50 patent filings, 5 issued patents
· 19 projects led to 24 new technologies, 7 licensed
In addition to the above-mentioned awards, the Minnesota Partnership, in cooperation with each institution’s Center for Translational Sciences, has funded 15 commercialization awards to help researchers bridge the gap to production of new drugs or technologies. This Translational Product Development Fund (TPDF) helps ensure that innovative discoveries get to market and will be used for patients nationally, with associated revenues returning to the state.
Each initial (tier 1) grant of $50,000 is awarded only after careful analysis and review of medical need and commercial potential. Of those 15 awards, 2 have proceeded to the second tier of funding, which happens only after a more extensive review by the TPDF steering committee and external expert reviewers of the project and progress thus far. Tier 2 funding consists of $200,000 per year for two years.