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

UNIVERSITY OF ILLINOIS URBANA-CHAMPAIGN

Research Park

    Nora Lozar

    EnterpriseWorks News Recognition & Awards

    Third Rock Ventures Invests $45 Million in Revolution Medicines

    Revolution Medicines is currently located in the EnterpriseWorks incubator at the University of Illinois Research Park. San Francisco/Redwood City, Calif. – February 4, 2015 – Third Rock Ventures, LLC today announced the formation of REVOLUTION Medicines, Inc. with a $45 million Series A financing to discover and develop new therapies derived from natural products. REVOLUTION Medicines’ innovative approach reconfigures these complex chemicals of life into best-in-class medicines. Veteran industry leader Mark A. Goldsmith, M.D., Ph.D., is the founding president and chief executive officer of REVOLUTION Medicines. Dr. Goldsmith brings to the company more than 25 years of experience as an academic scientist and senior executive in the biotechnology industry, and is a partner at Third Rock Ventures. REVOLUTION Medicines builds upon the vision of the company’s founder and scientific advisory board chairman, Martin D. Burke, M.D., Ph.D., professor of chemistry, University of Illinois at Urbana-Champaign, and Early Career Scientist of the Howard Hughes Medical Institute. Dr. Burke invented a transformative method for synthesizing original compounds that are pharmaceutically optimized analogues of complex natural products. The company has entered into an exclusive license agreement with the University of Illinois to practice and expand this technology, and is pursuing a rapid clinical development path with its lead antifungal program that originated in Dr. Burke’s laboratory. “With this major advance in chemical synthesis, we now have the opportunity to unlock the full medical benefits of natural products that have been selected through a billion years of evolutionary pressure,” said Dr. Goldsmith. “Marty is a remarkably inventive chemical biologist, and REVOLUTION Medicines is working closely with him in his role as scientific advisory board chairman to exploit his breakthroughs for industrial-scale drug discovery through redesigning complex molecules. Our strategy should produce high-impact treatments for serious infections and non-infectious diseases, among them our lead product candidates for patients with life-threatening fungal infections.” The arduous process of synthesizing natural products often requires years of trial and error to reconstruct a single chemical scaffold. In contrast, REVOLUTION Medicines’ approach is a rapid, standardized and powerful process for assembling simple “chemical building blocks” into refined natural product-like structures. These optimized compounds have significant potential as best-in-class drug candidates. REVOLUTION Medicines’ first drug candidates exploit and improve upon the properties of amphotericin B, a powerful, broad-spectrum antifungal compound found in nature that has avoided generating significant drug resistance in 50 years of clinical use. Full therapeutic benefit from this highly efficacious natural compound is significantly compromised by inherent dose-limiting side effects, principally kidney damage. Using the building block synthesis platform to create new molecules, Dr. Burke and his research group overturned decades of scientific dogma and demonstrated that the antifungal efficacy of the amphotericin B scaffold can be separated chemically from the major mechanism that underlies human kidney cell damage. REVOLUTION Medicines is developing novel compounds that leverage the proven therapeutic mechanism for killing fungi while minimizing toxic effects on human cells. “Professor Burke and his group have demonstrated the power of research at our school to uncover methods and drug candidates that can be enormously impactful on human health,” said Phyllis Wise, Ph.D., chancellor of the University of Illinois at Urbana-Champaign. “As one of the nation’s original land-grant institutions, our mission at the University of Illinois at Urbana-Champaign is to serve the public good through learning, discovery and outreach. Third Rock Ventures has launched REVOLUTION Medicines to translate these discoveries into important human benefits.” REVOLUTION Medicines Team The REVOLUTION Medicines team brings deep expertise and a track record of building exceptional life sciences companies. In addition to Dr. Goldsmith, founding president and chief executive officer and Dr. Burke, founder and scientific advisory board chairman, the team includes: David Pompliano, Ph.D., founding chief scientific officer, who is a leading drug discovery and development expert who previously led infectious disease research at Merck and GlaxoSmithKline; Peg Horn, J.D., general counsel and senior vice president, corporate development, a seasoned corporate executive with extensive experience in small and large companies; Neil Exter, interim chief business officer, a member of REVOLUTION Medicine’s board of directors and partner at Third Rock Ventures, who brings more than 20 years of experience leading business development and strategy, including service as chief business officer of bluebird bio (NASDAQ: BLUE) and Foundation Medicine (NASDAQ: FMI); and Alexis Borisy, a member of REVOLUTION Medicines board of directors, partner at Third Rock Ventures, and entrepreneur and chemical biologist who brings more than 20 years of experience launching and operating innovative science-based organizations, including Blueprint Medicines, Warp Drive Bio, Foundation Medicine and CombinatoRx.

    Third Rock Ventures Invests $45 Million in Revolution Medicines Read Post »

    News Research Park

    AbbVie Innovation Center Opens at Research Park

    CHAMPAIGN, (January 20, 2015) — The University of Illinois today announced that AbbVie (NYSE: ABBV), a global research-based biopharmaceutical company based in North Chicago, IL, has opened the AbbVie Innovation Center on campus at the University of Illinois Research Park in Urbana-Champaign. The AbbVie Innovation Center plans to employ more than 18 students, from undergraduate to graduate level, on a part-time basis throughout the year. Eight students have started working on several AbbVie Research & Development Information Technology projects, which is the initial focus of work in the AbbVie Innovation Center. AbbVie is currently hiring for several open positions. “At AbbVie, we know that advancing science requires strong collaboration and different ways of working. Establishing this innovative and collaborative work center at a world-class research university offers us access to top students and faculty who can help us explore new ideas,” said Mike Carlin, Vice President, R&D Information Technology, AbbVie. “The AbbVie Innovation Center is a great example of how AbbVie is partnering in unique ways to find new solutions that will have an impact for patients.” Students will work on real-world projects ranging from utilizing visualization software which can help AbbVie scientists see clinical trial research data in new ways, to harnessing the power of reporting tools which helps AbbVie medical teams identify additional areas of research, to using informatics, text mining and other analytics software to uncover connections in medical research – all of which can lead to discoveries that will improve patient care. While students will gain real-world professional experience by working directly with AbbVie project managers, an AbbVie Site Manager will manage the students and serve as liaison between the AbbVie Innovation Center and the University of Illinois. “The AbbVie Innovation Center will give our students the opportunity to be at the forefront of information technologies for leading-edge therapies that can make a difference in people’s lives,” said Chancellor Phyllis Wise. “Such real-world experiences are examples of the transformative educational opportunities at Illinois that grow from our leadership in engineering, big data, and biomedical sciences.” The Research Park, located on the campus of the University of Illinois in Champaign, provides an opportunity for technology-based businesses to collaborate with students and faculty. The University of Illinois at Urbana-Champaign’s College of Engineering is among the highest ranked in the nation, and is a highly sought after partner for pursuing the integration of engineering, computing, and medicine. About AbbVie AbbVie is a global, research-based biopharmaceutical company formed in 2013 following separation from Abbott Laboratories. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world’s most complex and serious diseases. AbbVie employs approximately 25,000 people worldwide and markets medicines in more than 170 countries. For further information on the company and its people, portfolio and commitments, please visit www.abbvie.com. Follow @abbvie on Twitter or view careers on our Facebook or LinkedIn page. For more information, email innovationcenter@abbvie.com. NEWS COVERAGE:News-GazetteSmile Politely

    AbbVie Innovation Center Opens at Research Park Read Post »

    EnterpriseWorks Media Mentions News

    MulticoreWare Ranks in 110 Fastest-Growing Private Companies

    CHAMPAIGN, IL, Nov 18, 2014 — MulticoreWare, founded by University of Illinois professor Wen-mei Hwu, has recently been ranked by Inc.com as one of the 110 fastest-growing private companies. This distinction comes in light of MulticoreWare’s recent and rapid growth and skyrocketing revenue. “MulticoreWare saw a three-year growth of 3,322 percent, with revenue increasing from $224,601 in 2010 to $7.7 million in 2013. ‘It’s really about how we make the best use of parallel hardware and increase the application capabilities and efficiency for customers,’ said Hwu, about the company’s growth.” MulticoreWare will graduate from EnterpriseWorks by the end of 2014. Read the full article here. MulticoreWare Inc is a Software and Systems Integration solutions company which provides heterogeneous multicore (h-multicore solutions) for high performance computing applications using multicore and many core processors. We are currently working with applications in the Defense and Aerospace, Bioinformatics, Life Sciences, Imaging, Scientific Computing and Financial Services industries. MulticoreWare embraces heterogeneous computing and its h-multicore solutions benefit customers who require a higher order of magnitude performance with power and space constraints. MulticoreWare Inc., has recently launched a new product called Mcore Platform Analyzer. Mcore Platform Analyzer is a powerful and versatile tool that allows a developer to easily instrument, visualize, and interpret the way different parts of the application interact with one another, as well as with the CPU and GPU. – See more at: https://researchpark5.wpenginepowered.com/news/multicoreware-inc-opens-enterpriseworks#sthash.3XKz0DSW.dpufMulticoreWare Inc is a Software and Systems Integration solutions company which provides heterogeneous multicore (h-multicore solutions) for high performance computing applications using multicore and many core processors. We are currently working with applications in the Defense and Aerospace, Bioinformatics, Life Sciences, Imaging, Scientific Computing and Financial Services industries. MulticoreWare embraces heterogeneous computing and its h-multicore solutions benefit customers who require a higher order of magnitude performance with power and space constraints. MulticoreWare Inc., has recently launched a new product called Mcore Platform Analyzer. Mcore Platform Analyzer is a powerful and versatile tool that allows a developer to easily instrument, visualize, and interpret the way different parts of the application interact with one another, as well as with the CPU and GPU. – See more at: https://researchpark5.wpenginepowered.com/news/multicoreware-inc-opens-enterpriseworks#sthash.3XKz0DSW.dpuf

    MulticoreWare Ranks in 110 Fastest-Growing Private Companies Read Post »

    EnterpriseWorks News Recognition & Awards

    Tech Crunch features Rithmio for Receiving $650K in Seed Funding

    CHAMPAIGN, IL, Sept. 26, 2014 — Rithmio has just announced that they have reached their fundraising goal of $650,000 that will enable them to build and release the first gesture recognition platform.  Rithmio’s software will help brands integrate gesture recognition into wearables and smartphones. Funding was led by Marcin Kleczynski, CEO of Malwarebytes, with BonaVentura, Fox Ventures, Illinois Ventures, Techra Investments, Hyde Park Venture Partners and Serra Ventures. Rithmio will use the funds to accelerate the development of their current product, expand the team with additional developers and implement marketing plans. Read the full Tech Crunch article.

    Tech Crunch features Rithmio for Receiving $650K in Seed Funding Read Post »

    News Partnerships & Acquisitions Research Park

    Caterpillar Celebrates 15-Year Anniversary of Champaign Simulation Center at University of Illinois and Announces Expansion Plans

    Caterpillar Celebrates 15-Year Anniversary of Champaign Simulation Center at University of Illinois and Announces Expansion Plans Company to establish new  data analytics lab in support of innovation strategy URBANA-CHAMPAIGN , Ill. – As a tribute to years of innovation through collaboration, Caterpillar Inc. marked the 15-year anniversary of its Champaign Simulation Center today, located in Research Park at the University of Illinois at Urbana-Champaign. In celebration of the milestone, the company is announcing plans to establish a new data analytics laboratory. The expansion will build upon the existing recruitment efforts with the university to engage future science, technology, engineering and mathematics (STEM) talent through additional research and development opportunities, and is a key component of the company’s innovation strategy. Caterpillar opened the simulation center on the Urbana-Champaign campus in 1999, working in conjunction with the University of Illinois’ National Center for Supercomputing Applications (NCSA). Since then, the center has not only contributed to Caterpillar’s recruiting efforts, but  also serves as a leading engineering hub for virtual product development, advanced simulation and design solutions. Now, the company looks to the next phase of its research and development efforts on the campus by leveraging the university’s data analytics capabilities and resources. “Our Champaign Simulation Center has been a crucial component for our product development efforts by bringing in new talent – as evidenced by student teams working with our engineers – and through the use of new technologies to aid in research and development,” said Gwenne Henricks, Chief Technology Officer and Vice President of Product Development and Global Technology at Caterpillar. “Since the facility’s opening, we have been privileged to have more than 350 students involved with the center, either through the Caterpillar Practicum Program or as interns working at the center. We are proud to say that approximately 100 of those former students now work at Caterpillar. With today’s expansion announcement, we hope to inspire future innovators to dig into technology right in their own backyard.” “Caterpillar’s new data analytics lab will serve to strengthen an already close relationship between the company, the University of Illinois and the Research Park,” said Peter Schiffer, Vice Chancellor for Research at the University of Illinois at Urbana-Champaign. “Caterpillar’s innovative approach to its Research Park operation started 15 years ago, when it pioneered the Research Park student employment model – one that has been replicated by many other companies. We are looking forward to more productive years ahead.” Caterpillar and the university will begin efforts for the data analytics lab expansion later this year. The new lab will foster real world innovation by bringing together university researchers and Caterpillar analytics professionals from engineering, computer science, statistics and economics to work on challenges and opportunities raised by technological and cultural change. This investment aligns with the company’s strategy to exceed customer expectations with outstanding products and solutions. About Caterpillar: For nearly 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2013 sales and revenues of $55.656 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments – Resource Industries, Construction Industries and Power Systems – and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media.

    Caterpillar Celebrates 15-Year Anniversary of Champaign Simulation Center at University of Illinois and Announces Expansion Plans Read Post »

    News Partnerships & Acquisitions Research Park

    Yahoo! Champaign Focus of Chronicle of Higher Education Feature on Industry-University Partnerships

    Yahoo’s Research Park site and its extensive relationship with the University of Illinois is the focus of a Aug. 11 Chronicle of Higher Education article (available online but subscription required). The story reflects on the growing relationships and collaborations between academia and industry leaders across the computer science landscape. The article features of a photo of Yahoo site director Cathy Singer, who was part of the team Yahoo hired when it came to campus in 2007 in the wake of Motorola closing. In February, Yahoo broke ground on a 40,000 square foot building in the University of Illinois Research Park; the building will open by the end of 2014. Reports Avi Wolfman-Arent: “(In 2007), Yahoo was simply hoping to score some ready-made talent. Less than a decade later, the company has developed a multifaceted relationship with the university’s computer-science department that extends into both student recruitment and coursework.” The entire article can be read here (without photo).

    Yahoo! Champaign Focus of Chronicle of Higher Education Feature on Industry-University Partnerships Read Post »

    Internships News Recognition & Awards

    Research Park Honors Most Valuable Interns of 2014

    Outstanding interns working for companies in the Research Park were honored Thursday, August 8, 2014 at the Research Park Intern Awards Picnic.  More than 400 highly skilled students work for Research Park tenants, gaining valuable experience while making meaningful contributions to internal corporate research and development programs.  The student interns that were nominated by their supervisors represented a wide range of backgrounds.  All awardees are students at the University of Illinois at Urbana-Champaign. The honorees include the following: Sarah Frankland-Searby, Most Outstanding Undergraduate, BS Bioengineering, Abbott.  Sarah created an extensive research report regarding R&D productivity and business success and presented her findings to Abbott R&D leaders. Finalists: Jake Roussel, Dow AgroSciences; Michael Goldstein, Akuna Capital Nathan Pratt, Most Outstanding Graduate, Ph.D. Nutritional Sciences, Abbott.  Nathan analyzed the subjects of a six week dietary supplemental trial and wrote an abstract and a soon to be published manuscript. Finalists: Rachel Flood, John Deere; Scott Huang, Yahoo! Vincent English, Most Advanced Marketing and Business Development, BS Statistics, Anheuser Busch InBev.  Vincent was instrumental in gathering external data using advanced technology and assisted with the on-boarding of new employees. Finalists: Olivia Rogers, Serionix; Evelyn Xu, Anheuser Busch InBev Jin Kim, Best Entrepreneurial Leadership in a Startup, BS MechSE, Serionix.  Jin contributed unique insights that enabled Serionix to rapidly iterate through a large number of prototypes. Finalists: Christopher Johnson, ATSP Innovations; Ulzee An, Rithmio. Jason Freeck, Best Technological Innovation, BS General and Electrical Engineering, State Farm.  Jason managed a project regarding the documentation and protection of intellectual property and his research led to a patent application. Finalists: Jingning Zhang, Neustar; Gail Butler, Caterpillar

    Research Park Honors Most Valuable Interns of 2014 Read Post »

    News Recognition & Awards Research Park

    Yahoo! Captures the Golden Paddle

    The Fifth Annual Table Tennis Tournament drew a strong showing of 45 players from 15 companies across Research Park. As numerous other employees and their families spectated, players ranging from beginners to aficionados vied for individual trophies and medals, as well as the coveted Golden Paddle for the company with the most overall points. Yahoo came out so strongly that it may want to make sure a trophy case is in the plans for its new building. Aside from reclaiming the Golden Paddle from HDF, Yahoo employees earned six out of the nine individual awards. In a clean sweep of the Advanced bracket, Yahoo’s Kyle Jao, Ganesan Mani, and Sriram Viswanathan nabbed 1st, 2nd, and 3rd places, respectively. Allie Watfa of Yahoo beat out colleague Balaji Manoharan in the championship game of the intermediate bracket, followed by Saurabh Mishra of Riverbed in 3rd place. Quincey Koziol kept some hardware in the HDF name as he won the beginner’s bracket, followed by Mohana Karunakaran of Yahoo! in 2nd place and Varun Thangavelu of Akuna in 3rd place. A special thank you to Jay Geistlinger of HDF Group, Howard Gerwin of John Deere and Allie Watfa of Yahoo for participating on the Table Tennis Tournament planning committee. Congratulations to all for a fun and exciting evening.

    Yahoo! Captures the Golden Paddle Read Post »

    EnterpriseWorks News Recognition & Awards

    Intelliwheels Receives $1.5 Million Grant To Develop Multispeed Geared Wheels For Manual Wheelchairs

    CHAMPAIGN, IL, Aug. 4, 2014  — A $1.5-million grant will enable IntelliWheels, Inc. to advance development of ultra-lightweight, multi-geared wheels for manual wheelchairs. This new innovation will further wheelchair functionality, allowing manual wheelchair users to be more physically active and increase their independence, health and well-being. IntelliWheels received the Phase II SBIR (Small Business Innovation Research) grant from the National Institutes of Health, National Center for Medical Rehabilitation Research at the Eunice Kennedy Shriver National Institute of Child Health & Human Development. “By using simple gearing we can create a more dynamic method of mobility, providing wheelchair users greater ability to interact in their environment,” said Marissa Siero, Co-Founder of IntelliWheels, Inc. The IntelliWheels i series will give wheelchair users the option to shift into high and low gears, providing the ability to independently maneuver hills, uneven surfaces and longer distances. IntelliWheels, Inc. will be working in collaboration with the University of Illinois Urbana-Champaign, the University of Wisconsin- Milwaukee, and TiLite, a leading manufacturer of ultralight wheelchairs to conduct research on geared technology for wheelchair users as well as product development. “Funding like this from the NIH is an incredible tool to help designers, engineers, and inventors create the very best technology and design that every wheelchair user deserves.  It has an additional benefit that it supports US manufacturing and small businesses,” said Scott Daigle, M.S., PI and President, Co-Founder of IntelliWheels, Inc. About IntelliWheels IntelliWheels, Inc. is a product development company dedicated to innovating wheelchair technology and improving mobility options for wheelchair users. Utilizing wheelchair users’ feedback in the design process and product development phases enables IntelliWheels to create products for wheelchair users with optimal features and greater functionality. IntelliWheels believes in creating innovative products that can be used to increase a person’s ability to lead a more active and independent life.  IntelliWheels originated as a student startup from the University of Illinois at Urbana- Champaign. Intelliwheels recognized by: HME News, FinSMEs, BioSpace, News Gazette

    Intelliwheels Receives $1.5 Million Grant To Develop Multispeed Geared Wheels For Manual Wheelchairs Read Post »