UChicago, RiMO Therapeutics complete first UCGo! Startup License

The University of Chicago has issued its first license through the UCGo! Startup License program to spinout RiMO Theraputics, a nanopharmaceutical company. The UCGo! Startup License is an optional, standardized license agreement created last year by UChicagoTech , the University's Center for Technology Development and Ventures, to increase entrepreneurship at the University. The UCGo! program is jointly operated by UChicagoTech and the Chicago Innovation Exchange. A new pathway for licensing University intellectual property available to qualified UChicago startup companies, the optional program provides standardized, non-negotiable terms, shortening the timeline for company launch and minimizing the company's legal costs. "We expect that RiMO Therapeutics is the first of many startup companies from the University of Chicago that will use the UCGo! Startup License," said Steve Kuemmerle, UChicagoTech deputy director. "The response to this program has been extremely positive from our own faculty as well as investors and members of industry." Under the agreement, RiMO Therapeutics , based in Elk Grove Village, Ill., has licensed the rights to novel oncology therapeutic technology developed by Wenbin Lin, the James Frank Professor in Chemistry and the Comprehensive Cancer Center. Lin's scalable solution combines nanotechnology and low-dose X-rays to effectively eradicate solid tumors.