[news 2007-2008]

PARTEQ signs commercialization MOU with Beijing science and technology group

Dec. 3, 2007

For immediate release

KINGSTON, ON -- PARTEQ Innovations, the technology transfer office of Queen’s University, has signed a Memorandum of Understanding with the Capital Science and Technology Group (CSTG) of Beijing, China.

Under the terms of the agreement, the two partners will identify promising technologies developed in China for commercialization in North America and/or China. The first step in the collaboration will be a joint pilot project between the CSTG and PARTEQ.

Comprising all of the leading research institutions in Beijing, the CSTG provides resources and services, including technology transfer, aimed at transforming the capital city into a centre for science and technology innovation. The organization has strong ties with the Haidian Science Park, known as “China’s Silicon Valley,” home to approximately 6,000 high-tech companies and 138 research institutions, including Peking University and Tsinghua University, considered China’s Harvard and MIT, respectively.

“Our meetings with our Chinese colleagues showed us that there is a need and a willingness to work with us, particularly in the area of promising early stage technologies,” says John Molloy, President and CEO of PARTEQ Innovations.

“We are excited by the opportunities that such a collaboration would offer,” he says. “It would allow us to identify technologies that may have a fit in North American markets, leading to collaborative projects that would benefit both partners.”

“This partnership opportunity is great news for PARTEQ and Queen’s,” says Dr. Kerry Rowe, Vice-Principal (Research) of Queen’s University. “Working with the leading research institutions in China through the collaboration with CSTG will provide expanded opportunities to bring promising new technologies to North America.”

Contact:
John Molloy
President & CEO
PARTEQ Innovations
P: 613. 533. 2342
E: jmolloy@parteqinnovations.com

About PARTEQ Innovations:
PARTEQ Innovations is the not-for-profit technology transfer arm of Queen’s University. PARTEQ works with Queen’s researchers and the business and venture capital communities to bring early stage technologies to market. Since 1987 PARTEQ has been instrumental in the establishment of nearly 40 companies developing a variety of products, from potential drugs for Alzheimer’s, cancer and heart disease to automated bacteria detection for water systems, solar-powered appliances, and advanced materials used in the plastics, automotive, aerospace and household appliance industries. While primarily focused on discoveries generated by Queen’s University, PARTEQ also offers its services to the Royal Military College of Canada, Kingston General Hospital, and the University of Toronto.
www.parteqinnovations.com