Botox Treatment Developed In U Of Colorado Lab Nets $30 Million Payout

Monday, March 26, 2012

The University of Colorado has received a $30 million payout for a Botox treatment that one of its faculty members invented in the late 1990s.

The treatment, which was approved by the U.S. Food and Drug Administration in August, was developed to treat urinary incontinence in people with neurological conditions, such as spinal cord injury and multiple sclerosis, who have overactive bladders.

"Upon that approval, we went to a number of investment organizations that purchase royalty streams and we conducted, in essence, an auction," explained David Allen, the director of CUs Technology Transfer Office.

Since the inventor is no longer at the university, royalties are divided between the university and the tech transfer office.

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