Saudi University Bootstraps Hi-tech Biomedical Enterprise

(I-Newswire) August 31, 2010 - King Saud University (KSU), a premier educational & research institution based in the Saudi capital Riyadh, yesterday announced the spin-off of first of its kind commercial enterprise dedicated to advancing research in computational analysis of complex biomedical challenges encountered by today's biomedical scientists, researcher and clinicians.

BioMedSilico, a joint venture between Prince Sultan Chair (PSRCEW) & Technology Transfer Office (TTO) at KSU would be a premier software development & consultancy house in the region to investigate effective solutions in complicated issues faced by the scientific community, who prefer rather simple & easy to use software tools for their research activities.

Speaking on the importance of this occasion, Dr Abdullah Al-Othman, the President of KSU said "we are proud to demonstrate our commitment of promoting research in MedTech arena". He further added: "it's a step forward to affirm our commitment in positioning KSU as a prominent research university".

BioMedSilico would initially be headquartered at the KSU campus and eventually spin-out into one of the world-class research venues under construction at the KSU campus, thereafter aiming for an IPO.

The company has already been accredited for its Software products by global institutions like Harvard Medical School, Johns Hopkins University School of Medicine & World Health Organization, and is teamed up by university's faculty having decade's long proven track record in multidisciplinary areas of the relevant field. Commenting on the breakthrough, Dr. Alexandre de Lencastre of Yale university wrote "Given how tedious it can be to tabulate the BioMetircs, the community really appreciates such development".

IPTL, the Technology Transfer office as KSU, headed by Dr Khaled Al-Saleh, has helped in safeguarding the company's Intellectual property (IP) interests and mentoring the company from a research group into a turnkey commercial venture. Amongst its portfolio are another 89 IPs that it is in the process of commercializing.

The announcement comes at a time when top Saudi officials are evangelizing the country's move from conventional petrochemical based economy into a more diversified economy mainly driven by Knowledge Based Industries (KBI) and KSU has been a key player in driving this transition.

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About KSU:
Having on a 9 million sq.m footprint, KSU is ranked amongst top-300 global universities by various accrediting bodies. With over a 100,000 student pool & 5,000 faculty members, KSU is the largest university in the country, more information on KSU can be found at www.ksu.edu.sa

About IPTL:
Abbreviated for Intellectual Property & Technology Licensing Program, IPTL is the Technology Transfer Office (TTO) of the KSU. Amongst it's activities are Patent analysis & registration, licensing, commercial & monetizing of Intellectual Property developed across several departments at KSU. IPTL intends to extend it's services as an advanced one stop patent house in the country where companies & individuals would be able to outsource their patenting requirements on cost effective basis. More information on IPTL's services can be found at http://iptl.ksu.edu.sa/

About PSRCEW:
Abbreviated for Prince Sultan Research Chair for Environment and Wildlife, it is one of the 200 research chairs at KSU. It is envisioned to conduct world-class scientific research on global standards, using the most advanced technologies in the field of environment and wildlife conservation. For more information, please visit the chair's website at: http://psrcwe.ksu.edu.sa/en/index.html

About BioMedSilico:
BiomedSilico is a joint venture of PSRCEW and IPTL programs at KSU. The company's main objective is to simple and user-friendly software tools for specific biomedical applications. Please visit www.BioMedSilico.com for further information.

About BioMedSilico:
Having on a 9 million sq.m footprint, KSU is ranked amongst top-300 global universities by various accrediting bodies. With over a 100,000 student pool & 5,000 faculty members, KSU is the largest university in the country, more information on KSU can be found at www.ksu.edu.sa

Company Contact Information
BioMedSilico
Usman Fateh
Intellectual property & Technology Licensing (IPTL) College of Engineering (Building 3) Office No
Riyadh, Kingdom of Saudi Arabia
11451
Phone : 966 5 655 83 476