Sogang University and Chinese Medical Image Equipment Development Company signs technology transfer agreement
- Department of Electronic Engineering Professor Choi Yong expected to receive technology transfer fee of 5.2 billion KRW for 6 years -
Sogang University Research Foundation signed technology transfer agreement with a Chinese medical image equipment development company called FMI Medical Systems (also known as FMI Co., Ltd, CEO Pan Hua Su) and held a joint laboratory foundation ceremony on Monday, October 26. It is a large scaled technology transfer to receive technology fee up to 5.2 billion KRW and up to 900 million KRW annually.
With this, Sogang University was able to sign technology transfer agreement with Chinese company for the first time and established a joint laboratory with FMI Co., Ltd to carry out continuous joint research. Usually when signing agreement between university and company in particular, the technology fees are paid in one time. However, this agreement is meaningful in that every time the sales occur, Sogang University will receive 100,000 CNY per equipment (about 17 million KRW) as the running royalty.
The technology transfer is on advanced medical image equipment developed by Department of Electronic Engineering professor Choi Yong, research professor Jung Jin-ho and other research team, which is PET-MRI Integration System Technology and 2 technology patents (including international patents) and its knowhow. The research team of professor Choi Yong minimized the problems caused by signal distortion when developing PET-MRI Integration System. By greatly decreasing radiation exposure compared to the existing image examination device, developed a medical equipment that makes it possible to accurately examine the disease.
Sogang University received support from the Ministry of Education LINC project (Leaders in Industry-university Cooperation) and BRIDGE project (Beyond Research Innovation and Development for Good Enterprises). Together with professional institution from outside, the person in charge of technology transfer can carry out the tasks to structure business model, acceleration tasks of IP and so on. Through 2 years of negotiation with Chinese company, this has reached fruition.
On the day of joint laboratory foundation ceremony, Lee Tae-soo, the head of Sogang University Research Foundation and professor Choi Yong were present, Pan Hua Su, CEO of FMI Co., Ltd and Zhao Ding Guo, a high priest from China were present as well. Professor Choi Yong said, “With this technology transfer, has proved that through industry-university cooperation, the university laboratory research can be developed to provide not only the education for students, but also become a profit-generating model that can be applied in industry materials.”