Purdue And Cook Will Invest In Life Science Startups

Cook Medical Devices and Purdue University announced yesterday they will work together to create an investment fund for life science startups.

medical device

Photo: flickr (andyde)

Cook Medical Devices and Purdue University are establishing an investment fund for life science research.

The Purdue Research Foundation is partnering with Cook Medical to support life sciences start-up opportunities.

Plans call for establishing a $12 million evergreen investment fund.

Research Foundation President and CEO Dan Hasler says the Foundry Investment Fund will seek to join with other investors to fund companies based on Purdue technology or expertise in the areas of human and animal health and plant sciences.

“What that means is, if other people are interested in making an investment in a Purdue start up, then we will offer a matching investment to go along with that,” Hasler said. “Not 50 percent, it could be 10 percent, it could be 30 percent, but it basically gives an investor the knowledge of knowing that Purdue and this fund is in it with them.”

Returns on the investments will remain in the fund for future investments.

Those who could be matching investors in The Foundry Investment Fund are non-Purdue entities such as venture capital firms, corporations, angel groups or qualified individuals.

Purdue President Mitch Daniels says the initiative will help a new generation of university innovators bring their technologies to the public.

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