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
Philadelphia, Sept. 19, 2013 –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, M.D., Chief Scientific Officer and Executive Vice President at The Children’s Hospital of Philadelphia.
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.
About The Children’s Hospital of Philadelphia: The Children’s Hospital of Philadelphia was founded in 1855 as the nation’s first pediatric hospital. Through its long-standing commitment to providing exceptional patient care, training new generations of pediatric healthcare professionals and pioneering major research initiatives, Children’s Hospital has fostered many discoveries that have benefited children worldwide. Its pediatric research program receives the highest amount of National Institutes of Health funding among all U.S. children’s hospitals. In addition, its unique family-centered care and public service programs have brought the 527-bed hospital recognition as a leading advocate for children and adolescents. For more information, visit http://www.chop.edu.