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September 20, 2013

CHOP and Osage University Partners Announce Agreement for Investing in Hospital Start-Up Projects

Partnership with Venture Capital Firm Expands Opportunities to Commercialize Children’s Hospital Research

Contact: John Ascenzi, Children's Hospital of Philadelphia, 267-426-6055 or ascenzi@email.chop.edu

The Children’s Hospital of Philadelphia (CHOP) is establishing a relationship with Osage University Partners (OUP), a venture capital fund that invests in new companies spun off from universities and academic research centers.

OUP invests exclusively in startup companies that commercialize academic research. It shares part of the resulting profits with those institutions to further promote entrepreneurial opportunities within those centers.

“This partnership offers a mechanism to move our Hospital’s innovative research into the marketplace and better provide health benefits to children and families worldwide,” said Philip R. Johnson, MD, Chief Scientific Officer and Executive Vice President at The Children’s Hospital of Philadelphia.

About Osage University Partners

OUP is part of Osage Partners, a family of venture capital funds based in Bala Cynwyd, Pa. OUP has research partnerships with over 60 universities and research centers, including the University of Pennsylvania, Johns Hopkins University, Carnegie-Mellon University, Drexel University and Duke University. OUP invests in life sciences, biopharma, and medical devices and diagnostics, in addition to other industries such as those involved in information technology, energy and materials technology. It typically co-invests in conjunction with other venture companies.
 

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