PHILADELPHIA, April 1, 2004 (PRIMEZONE) -- The Nanotechnology Institute (NTI), a comprehensive model for the development of nanotechnology-driven, real-world applications, has signed GlaxoSmithKline (GSK) as a corporate member. This partnership reflects the NTI's efforts to commercialize the basic research done through the Institute's four core research teams. It also matches GSK's efforts to identify technologies that enable new product and research methodologies.
The NTI, founded in 2000 with a $10.8 million commitment from the Commonwealth of Pennsylvania, is a partnership among Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP), the University of Pennsylvania and Drexel University. As a regional focal point for nano-related efforts, the NTI builds on the collective strengths of corporate interests, life and material science assets, research institutions, and economic development organizations.
"GlaxoSmithKline brings to the NTI not only a major presence in the pharmaceutical and life sciences industry but a willing partner in the growth of the mid-Atlantic region," states RoseAnn B. Rosenthal, President and CEO, BFTP/SEP.
The NTI's current research and development efforts are lead by 41 faculty representing nearly a dozen academic and medical institutions. Among its most recent accomplishments, the NTI has leveraged more than $57 million in state and federal funds, developed an associate degree curriculum for nano-biotechnicians, and is partnering with the Commonwealth to convene the Pennsylvania Nanotechnology Conference: The Business of Nanotechnology, the second statewide conference on nanotechnology. The Business of Nano will be held at the Pennsylvania Convention Center in Philadelphia, May 25 & 26, 2004.