BOSTON--(BUSINESS WIRE)--Allied Minds (LSE: ALM), a diversified holding company focused on venture creation within the life science and technology sectors, and The MITRE Corporation, a not-for-profit organization that operates multiple federally-funded research and development centers (FFRDCs), today announced an agreement that gives Allied Minds a first look and exclusive access to certain technologies in MITRE’s intellectual property (IP) portfolio that are of interest to Allied Minds.
The deal expands the Allied Minds-MITRE partnership announced in March 2014, which focused on licensing innovations from MITRE that led to the formation of Allied Minds subsidiary Percipient Networks. Under this agreement, Allied Minds, through its subsidiary Allied Minds Federal Innovations (AMFI), will have the first opportunity to review AMFI-relevant intellectual property with an aim to license the IP into companies formed by AMFI. Once formed, AMFI will provide such new companies with capital, central management, and start-up experience to accelerate the commercial adoption and value creation of MITRE technologies.
“We are extremely pleased to be entering into this broader partnership with MITRE, a leading national asset developing cutting edge technologies across a broad range of technology sectors,” said Chris Silva, chief executive officer of Allied Minds. “We look forward to working more closely with MITRE to create new companies based on MITRE technologies that we believe will be important contributions to the commercial marketplace, creating jobs and improving U.S. economic competitiveness.”
MITRE owns a portfolio of patent-protected inventions and related technical information and know-how.
Allied Minds’ relationship with MITRE is one of several arrangements that Allied Minds has with federally funded research labs, each of which is structured to help create a platform for technology transfer, as well as new company creation.
“Working in our sponsors’ interests, MITRE develops substantial intellectual property that can benefit the nation,” said Pete Sherlock, MITRE senior vice president and director of Bedford Operations. “Working with the Boston-based Allied Minds, we are tapping into the world-leading innovation and high-tech ecosystem in Massachusetts to help grow the economy and help federal agencies solve the nation’s most difficult challenges.”
As a private, not-for-profit organization formed in 1958 to provide systems engineering, R&D and technical guidance to the federal government, MITRE has more than 7,500 staff, with primary locations in Bedford, Massachusetts, and McLean, Virginia. To get MITRE prototypes to commercial companies that can develop cost-effective solutions and bring products to market, MITRE has an active technology licensing program with more than 558 technology licenses completed in the past five years. These include innovations to ensure that small aircraft and unmanned aerial systems have the same level of situational awareness as large planes and technology to increase security and resiliency of computer networks, allowing organizations to operate cost-effectively using largely existing infrastructure.
About The MITRE Corporation
The MITRE Corporation is a not-for-profit organization that operates research and development centers sponsored by the federal government. Our centers support our sponsors with scientific research and analysis, development and acquisition, and systems engineering and integration. We also have an independent research program that explores new and expanded uses of technologies to meet our sponsors’ needs. Our principal locations are in Bedford, Mass., and McLean, Va. To learn more, visit www.mitre.org.
About Allied Minds
Allied Minds is a diversified holding company focused on venture creation within the life science and technology sectors. With unparalleled access to hundreds of university and federal labs across the U.S., Allied Minds forms, funds, and operates a portfolio of companies to generate long-term value for its investors and stakeholders. Based in Boston, with a nationwide presence in Los Angeles and New York, Allied Minds supports its businesses with capital, central management, and shared services. For more information, please visit www.alliedminds.com.
Allied Minds Forward-Looking Statement
This press release contains statements that are or may be forward-looking statements, including statements that relate to the company’s future prospects, developments and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risk and uncertainties described in the risk factors included in the company’s regulatory filings. These forward-looking statements are based on assumptions regarding the present and future business strategies of the company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law, regulatory requirement, the Listing Rules and the Disclosure and Transparency Rules, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
