HOUSTON, Oct. 21, 2003 Cyrospace Inc. and the University of Houston have signed a commercialization agreement in which the company will license and commercialize inventions and technologies created by the faculty, staff and students of the university.
According to this agreement, which was announced Sept. 29, Cyrospace will assist UH in realizing the commercial potential of its advanced technologies in the marketplace.
"This agreement is another step in enhancing Cyrospace's portfolio of innovative technologies required to meet the technology challenges of our customers," said Michael Cyrus, Cyrospace's president and CEO. "This relationship will produce revenues for both the university and Cyrospace, enabling UH to concentrate on research and development while allowing them to benefit from our expertise in technology commercialization."
Arthur Vailas, UH vice president for research and intellectual property management, also praised the agreement, saying, "Our principal goal is to foster research and scholarship. The effective transfer of university-wide technology to industry contributes to that goal. Cyrospace has developed strong commercial alliances with world-renowned innovators, as well as educational and research institutions. University of Houston joins a select group of organizations benefiting from experience and expertise that Cyrospace contributes to such relationships."
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Contact: Lisa Merkl
University of Houston
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