Media reports of UMB-GBC tech transfer initiative are overstated

A recent article and subsequent editorial in the Baltimore Business Journal regarding a partnership between the University of Maryland, Baltimore and the Greater Baltimore Committee to develop a business model to expedite bioscience tech transfer in Maryland do not accurately reflect the nature of this project.

The intent of the GBC and UMB in starting a study to look at different potential models stems from our long-term interest in building the bioscience community. The study, now nearing completion, suggests ways to address a key issue in the industry, namely the gap between the enormous number of technologies being developed in Maryland’s universities and research laboratories and the relatively low rate of commercialization.

The GBC will not be engaged at any time in raising or investing funds. We hope to recommend the best business model for the industry as part of our ongoing interest in seeing the bioscience industry grow.

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