The Chicago Tribune reported last week — click here for the story — that Northwestern University received $700M from Royalty Pharma in exchange for certain of Northwestern’s royalty rights to its patents covering pregabalin. Pregabalin is a key component of Pfizer’s Lyrica, which is used to treat nerve pain associated with diabetes, shingles and fibromyalgia. Northwestern plans to use some of the money to fund its new nanotechnology initiative.
I will be on a panel at Northwestern’s IP Law Week next month. Perhaps in light of Northwestern’s new found wealth I should have requested a speaker’s fee. Seriously though, this will be a great event and is worth your time if you are in town. They have not published their literature on the event yet, but as soon as they do I will post it.