Color-Variation-Orange-Block-I-Blue-Background-1

UNIVERSITY OF ILLINOIS URBANA-CHAMPAIGN

Research Park

    Nora Lozar

    EnterpriseWorks News Recognition & Awards

    Revolution Medicines Makes $50mil Deal

    EnterpriseWorks incubator graduate, Revolution Medicines, sold the sharing rights to one of their leading drug candidates to Sanofi for $50million. Revolution Medicines started in the Research Park incubator in 2014 as the company “Midasyn” and have since graduated and relocated to California with their new name. Before moving to California the company launched as Revolution Medicines based on technology created at the University of Illinois. The medicine that was sold to Sanofi will help fight cancer and inhibit the SHP2, which is an enzyme associated with many common types of cancer. Before being able to create this medicine they first had to create and utilize technology to probe and research the enzyme. This will be the first time Revolution Medicines will be testing a drug on humans. Click here to read more on this news.

    Revolution Medicines Makes $50mil Deal Read Post »

    News Partnerships & Acquisitions Research Park

    Research Park Startup Agrible Acquired by Nutrien for $63 Million

    CHAMPAIGN, Ill. — Nutrien, a publicly traded Canadian fertilizer company, announced its plans to acquire Research Park startup Agrible for $63 million on Monday. The deal is expected to close by the end of the month. Agrible, a precision analytics company, analyzes and provides agronomic information using science and technology to transform results into useful knowledge. Agrible had raised more than $13 million in venture capital, and was twice named to the THRIVE 50, an annual list created by SVG Partners that ranks the best AgTech companies in the United States. Its tools have 17,000 grower users that represent approximately 11 million acres in aggregate. “The acquisition of Agrible is consistent with our strategy of investing in the growth of Nutrien’s Retail business to further strengthen and differentiate our leading global position,” said Chuck Magro, President & CEO of Nutrien in a news release. “We expect to recognize significant strategic and financial benefits from the transaction by leveraging Agrible’s capabilities to deliver unique, value-enhancing solutions across our Retail network.” Founded in 2012, Agrible now has 55 employees and is headquartered in Champaign at the University of Illinois Research Park. It is a graduate of the Research Park’s EnterpriseWorks tech incubator. The company is a true local success story. Agrible has collaborated with multiple Research Park companies, including working with Anheuser Busch InBev on forecasting barley yield; with John Deere on mobile apps; and received investment from ADM. Its first customers and users were located in Central Illinois. Its lead investor, Serra Ventures, starting from seed round through its Series B, is also based in the Research Park. In addition to named investors such as Flyover Capital and Maumee, multiple local angel investors had participated in Agrible’s various raises. The startup acquistion is one of the largest in the state of Illinois this year, trailing only Home Chef ($200 million) and Maestro Health ($155 million). “Agrible has dedicated its business strategy and development activity to building market-leading data science and digital tools that provide growers with the information and insights they need, when and where they need them,” said Paul Miller, Chief Science Officer & Co-Founder of Agrible in a news release. “We have a strong fundamental belief that the most effective means of scaling and delivering the value of Agrible’s tools is by leveraging and empowering the important role that agricultural retailers play in supporting growers’ ability to sustainably maximize crop production. As a result, this exciting combination with Nutrien Ag Solutions is the ultimate validation of our strategy and the ideal platform to significantly scale-up the capabilities that we have built, while continuing to grow and enhance the value we provide our global sustainability customers.” Agrible was founded by Chris Harbourt, Paul Miller and Bill Northcott, three PhD scientists who are University of Illinois at Urbana-Champaign alumni. The company, then called Ag Informatics, moved into the incubator in early 2014. With the help of resources available through EnterpriseWorks and Research Park, Agrible launched Morning Farm Report and made important connections in the community with growers and other Research Park companies. It graduated from EnterpriseWorks in late summer 2015 and moved into custom constructed space at 2021 S. First Street in the Research Park, where it remains today. Agrible timeline:  2018: July: Nutrien Announces Acquisition of Agrible for $63 millionJanuary: Named to the THRIVE 50, an annual list created by SVG Partners that ranks the best AgTech companies in the United States, for the second time. 2017:September: Announces formal partnership with AB InBevSeptember: Announces Series B funding, $9.7 million. The first close was led by Maumee Ventures, the venture arm of The Andersons grain handling company. Other investors: iSelect Fund, Flyover Capital, Archer Daniels Midland, Serra VenturesJanuary:  Named to the THRIVE 50, an annual list created by SVG Partners that ranks the best AgTech companies in the United States. 2016:Summer: Agrible and AB InBev began work together to forecast barley yield and quality factors through better crop modeling and predictive analytics for American farmers, announce global partnership in September 2017.May: Announced that Morning Farm Report received an Ag Data Transparent seal backed by the American Farm Bureau Federation and the National Farmers Union. 2015:November: Celebrates Grand Opening of a new office in the University of Illinois Research ParkJuly: Announced $4.1 million Series A round of funding, led by Serra Ventures. Co-investors include ADM and Flyover Capital.March: Company wins the 2015 Innovation Celebration New Venture Award (VIDEO HERE)February: Launched Morning Farm ReportCompany changes it name from Ag Informatics to Agrible. 2014:April: Raises seed funding from Serra Ventures.January: Company enters the EnterpriseWorks incubator. 2012: Company Founded. For more news on the deal: Fox IllinoisThe News-GazetteAmericanInnoPrecisionAgPR NewswireChicago Business Journal

    Research Park Startup Agrible Acquired by Nutrien for $63 Million Read Post »

    Events News Research Park

    2018 Table Tennis Tournament Was a Hit

    The 2018 Research Park Table Tennis Tournament was a great success yet again. There was a huge turnout of 96 participants as well as many spectators who cheered on their coworkers, family members, and friends. After hours of playing with high tensions and high stakes, Oath came out victorious and took home the coveted golden paddle. Congratulations to everyone who participated and to all of our winners. Here is a full list of winners from each category: Beginner: Aneesh Mysore (Country Financial) PoHeng Chen (Oath) Yong Jin (YJ) Kim (Syngenta) Intermediate: Kedar Gundlupet (Oath) Xi (Daisy) Chen (Oath) Abish Abraham (Gartner) Advanced: Allie Wafta (Oath) Nilam Sharma (Oath) Yong-Bin Kim (Caterpillar) Golden Paddle Winner: Oath  

    2018 Table Tennis Tournament Was a Hit Read Post »

    News Research Park

    New study highlights immigrant contribution to Champaign’s STEM workforce

    A first-of-its-kind study shows that Champaign County’s STEM workforce is bolstered by immigrants. Data collected in the “New Americans in Champaign County” published by the University YMCA shows that 1 in 4 STEM workers are immigrants but make up just 11.6 percent of the county’s overall population. We, at the Research Park, are proud that ideas from all over the world meet here. Throughout the year, we celebrate this international community at events that mark significant holidays. Further, we eagerly supported the University YMCA’s study alongside the City of Champaign, City of Urbana, and Champaign County Economic Development Corporation. The infograph below illustrates the county’s diverse immigrant population. The study tells us about the influence of the university in ways other immigrant reports do not because it defines “immigrant” as “Anyone not born to a U.S. Citizen, regardless of current status.” Thus, the analysis includes students on non-immigrating visas – many of whom take internships, found start-ups and/or graduate to full-time positions in the Research Park ecosystem. The authors’ summary conveys a clear theme similarly felt in the Research Park ecosystem: The message of this report can be encapsulated in one word: interdependence. Far from ‘aliens’, immigrants are our neighbors, colleagues, and friends, and as this report illustrates, what affects them will impact the entirety of our community–immigrant and U.S.-born. For more information on the New American Welcome Center, visit their website HERE.

    New study highlights immigrant contribution to Champaign’s STEM workforce Read Post »

    News Research Park

    Illinois Ignite to feature faculty startups

    At Research Park, we are proudest of researchers who meaningfully connect their work to the world’s felt needs. The inaugural Illinois Ignite tech showcase in Rosemont, IL will demonstrate how Illinois’ prominent research universities do precisely that. Start-ups and technology growing out of these research institutions are significantly affecting the fields of oncology, neuroscience, artificial intelligence, security, robotics, and advanced materials. Of the more than 35 tech-based entrepreneurial faculty presenters, six University of Illinois at Urbana-Champaign faculty co-founders who graduated or are currently incubating start-ups in the Research Park will present. Brighten Godfrey Associate Professor of Computer Science Faculty co-founder of EnterpriseWorks graduate: Veriflow Speaking on “Continuous Network Verification and Congestion Control” Mani Golparvar Fard Assistant Professor in Civil Engineering and affiliate in Computer Science Faculty co-founder of EnterpriseWorks tenant: Reconstruct Speaking on “Geometry- and Appearance-Based Reasoning of Construction Progress Monitoring” Stephen Boppart Professor in Electrical and Computer Engineering, and Bioengineering Faculty co-founder of EnterpriseWorks tenant: PhotoniCare Speaking on “Stain-Free Slide-Free Histopathology Platform with Biomarkers of Cancer” Wen-Mei Hwe Professor of Electrical and Computer Engineering Faculty co-founder of EnterpriseWorks graduate: MulticoreWare Speaking on “Game Changing AI and Block Chain Systems at the IBM-Illinois Center for Cognitive Computing Systems Research (C3SR)” Rashid Bashir Professor of Electrical and Computer Engineering, and Bioengineering Faculty co-founder of EnterpriseWorks tenant: Prenosis Speaking on “Analysis of Blood and Tissue Using Chip Scale Sensors” Paul Braun Professor of Materials Science and Engineering Faculty co-founder of EnterpriseWorks graduate: Xerion Advanced Battery Corp. Speaking on “Paradigm Changing Materials for Energy Storage” Topics you don’t want to miss: Social Good & Sustainability Data Analytics & Robotics Materials by Design What’s Next in Blockchain, Security & Artificial Intelligence Frontiers in Neuroscience Breakthroughs in Oncology

    Illinois Ignite to feature faculty startups Read Post »

    Media Mentions News Recognition & Awards Research Park

    UI Chancellor Jones praises the Research Park as “wildly successful”

    In an event Tuesday, May 22 at the I Hotel and Conference Center, UI Chancellor Robert Jones presented and answered questions on the university’s plans to expand private-public investment in research and entrpreneurial programs. He assured the approximately 100 community leaders present that the UI Research Park will continue to have a major role in future public-private research partnerships. Promising to expand the UI Research Park, he called the park already “wildly successful.” Director of the Research Park, Laura Frerichs, attended the event and live-tweeted the Chancellor’s speech: “Our Research Park is the most important and visible innovation hub in IL, it’s the most transformative university research park model in the US.” The talent pool from Chicago is not the only ingredient the Champaign-Urbana innovation community can look forward to. Chancellor Jones highlighted that the UI incoming freshman class may break the record number of 7,592 enrolled in 2016. Additionally, 32 students have been enrolled in the soon-to-be-opened Carle Illinois College of Medicine which he expects will “revolutionize health care, how medicine is taught and how medicine is practiced.” When discussing the impending implementation of a future business and community advisory council to the UI, the chancellor stated that “A great university must start on the shoulders of a great community.” He confirmed the motivation behind the council by acknowledging “We’re investing in the community, but we need to do more.” “We must work together. The university must make a difference in the world, and that difference has to start here in Urbana-Champaign.” Read more about the meeting in the News-Gazette.

    UI Chancellor Jones praises the Research Park as “wildly successful” Read Post »

    Graduates Media Mentions News Research Park

    Three Research Park Alums make the Crain’s 20 In Their 20’s List

    Research Park alums took over the Crain’s 20 In Their 20’s List. Three companies that spent time in the Research Park were  Dan Klein with Tiesta Tea, Ashley Moy with Cast21, and Lucas Frye with Amber Agriculture all made the list for their outstanding development in innovation and technology. Klein and Moy were both graduates from the EnterpriseWorks incubator here at the University of Illinois Research Park and Frye spent a year in the Research Park Developing his company. Tiesta Tea started its journey in the EnterpriseWorks incubator at the University of Illinois Research Park. Klein shared with Crain’s that the idea for his company came when he was in a teahouse in Prague and “couldn’t understand why the fruity, flavor-packed loose-leaf varietal he was sipping wasn’t widely available in the U.S.” From there his company hasn’t stopped growing and is expecting a revenue of around $8 million this year. Cast21 was another company that began its journey in the EnterpriseWorks incubator. Moy’s company started as a senior design project. The idea for Cast21 was based off of the experiences of Moy’s cofounder, Jason Troutner. Troutner had spent a lot of time in uncomfortable and impractical casts due to injuries and he and Moy wanted to change that experience for those in the future. The team created a cast that was breathable, waterproof, and more accessible. The cast has a web-like design that can be moulded to the wearer’s hand and allows them to do more with the cast on, like take a shower easily. Moy plans on putting the cast through medical testing and hopes the cast will make it to market later this year. Although Lucas Frye and Amber Agriculture only spent a year at the Research Park, they left their mark on Champaign-Urbana and took home the 2016 Cozad New Venture competition prize. Frye grew up in a very small farming town and used that to his advantage to create a device that measures moisture for grain, one of the most important elements in successfully achieving a good crop. Read more about the companies in Crain’s article here.  

    Three Research Park Alums make the Crain’s 20 In Their 20’s List Read Post »

    EnterpriseWorks Graduates News

    EnterpriseWorks Graduate, Revolution Medicines, receives $56M Series B

    EnterpriseWorks graduate, Revolution Medicines, tees up for oncology IND for $56M Series B Venture Capital Investment. The capital has been raised from Nextech Invest, The Column Group, and Third Rock. Current CEO, Mark Goldsmith, said, “We appreciate the strong support shown by our founding and new investors in this significant financing that will fuel the advancement of our exciting SHP2 program and innovative pipeline.” Revolution Medicines began at the University of Illinois in 2014, founded by Professor Marty Burke. Its purpose was to develop a platform to rapidly open chemical space hereto inaccessible for drug development, while enabling Ph.D. chemist to focus on the utility of molecules rather than the synthesis of the molecules. Essentially, Revolution can attack targets that were previously considered undruggable. Since 2014, the company has begun to focus on oncology, and the $56M will help put the SHP2 program into the clinic. The SHP2 program focuses on a molecule that blocks SHP2, a protein that regulates cellular proteins, but also acts as a driver of certain cancers and as a signaling node in various regulatory pathways. Revolution will continue with its discovery and research and expects to test its SHP2 drug as a monotherapy and in combination with other treatments for patients with advanced cancers. “The raise of new capital, expansion of our executive team and board with seasoned leaders, and multiple presentations about progress in our SHP2 program at the recent AACR conference all reflects enormous momentum in our effort to outsmart cancer,” said Goldsmith. Read the full story here.

    EnterpriseWorks Graduate, Revolution Medicines, receives $56M Series B Read Post »

    News Research Park

    AXIS Capital and Gies College of Business Establishes the AXIS Risk Management Academy

    AXIS Capital, a global specialty insurer and reinsurer located in Research Park, has partnered with the University of Illinois Gies College of Business to establish the AXIS Risk Management Academy, which will “provide Illinois students who are interested in pursuing a career in risk management with research and professional development resources and experiences to suprport their undergraduate work.” AXIS Capital opened at their research center at Research Park in 2013, and plans on contributing $1.5 million towards the new academy.  Albert Benchimol, President and CEO of AXIS Capital, told Yahoo News that, “We wish to help develop a new generation of professionals within the field in order to bring emerging ideas forward that will ensure the continual and effective management of risk in society…we are very pleased to grow our relationship with the University of Illinois, one of the top finance and actuarial schools and a leader in (re)insurance research and education.” Read the full story on Yahoo Finance.

    AXIS Capital and Gies College of Business Establishes the AXIS Risk Management Academy Read Post »

    EnterpriseWorks Graduates Media Mentions News

    Tiesta Tea Recognized on Inc’s 2018 30 Under 30 Rising Stars

    Read the full list on Inc.  Tiesta Tea began its journey as a startup in the EnterpriseWorks incubator at the Research Park, founded by Dan Klein and Patrick Tannous in 2010. The company sells affordable loose leaf tea to American consumers in a variety of fun and delicious flavors. Today, they have been recognized as one of Inc.’s 30 Under 30 Rising stars. The company is now based in Chicago, where it has products in 6,500 stores nationwide, including household names such as Target, Costco, and Whole Foods. By the end of 2018, the company is expected to reach $8 Million in revenue, which is up from $4.4 Million in 2017. Research Park residents can find Tiesta Tea in the kitchen at the EnterpriseWorks incubator.

    Tiesta Tea Recognized on Inc’s 2018 30 Under 30 Rising Stars Read Post »