Taking Time, Risk and Cost out of Drug Discovery (Fall 2001) ENPRO 351
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Professor Chapman has invented an x-ray procedure that greatly extends the technique's ability to diagnose tumors (mammogram improvement) and see problems in soft tissue, such as cartilage. He collaborates with Brookhaven National Laboratory, Argonne National Laboratory, Rush Medical College, and several other universities. The potential for enhancement of public health and quality of life through this technology is significant. The team will have the opportunity to analyze and help IIT pursue one or two different paths to commercialization. The current state of development of the technique limits its application to a high-energy beam line at Argonne. Thus, Project Path One involves developing a business plan for a service that would be created in conjunction with Argonne and accessed through the Advanced Photon Source. Project Path Two involves developing equipment that could be installed in a clinic or hospital. The first project can be implemented without significant technology extension, while the second project requires a technological breakthrough to reduce the size and cost of the equipment. The long-term impact will be greater for the second project, because of the potential diffusion of a system throughout the healthcare industry. The scope of the two project paths involve: (1) Understanding the capability relative to current technology; (2) Relating that technical advantage to a patient benefit; (3) Developing understanding of the economics of the alternatives; (4) Preparing commercialization strategies; (5) Performing market research; (6) Developing a business plan; (7) Creating an implementation plan for Project Path One; (8) Developing an equipment development alliance for Project Path Two; and (9) Developing a financing plan and product development strategy for Project Path Two. It is anticipated that the scope of this project may require it to continue over more than one semester. This IPRO team will find this experience highly rewarding, because of its potential for benefiting many people who require medical diagnostic imaging procedures.