Source: Kent Glasscock, 785-532-3900, kentglas@k-state.edu
News tip: Manhattan and Olathe, Kan.
Website: http://www.k-state.edu/ic/
News release prepared by: Melissa Loehr, 785-532-2535, media@k-state.edu
Tuesday, Jan. 3, 2012
Kansas sees economic boost from Kansas State University, Abaxis partnership
MANHATTAN -- Kansas State University's partnership with Abaxis Inc., a national medical device manufacturer, is expanding veterinary medicine technologies and returning revenue to the state's economy.
The agreement with Abaxis was recently sealed with the university's Veterinary Diagnostic Lab and the Kansas State University Institute for Commercialization.
"Abaxis is a great addition for the university because it complements our expertise in animal health and it confirms what is possible when you combine education with industry," said Kirk Schulz, Kansas State University president. "The partnership will also aid Kansas State University in becoming a top 50 public research university by 2025."
The Kansas State University-Abaxis relationship pairs one of the oldest veterinary medicine schools in the U.S. with a global animal health company. Abaxis is known for its point-of-care blood analysis laboratory systems. These portable systems are designed to provide essential rapid blood measurements for the medical and veterinary fields. It requires little training and performs numerous tasks. The systems also provide all of the necessary equipment required to perform 14 medical tests and 13 veterinary tests at a rate comparable to a clinical laboratory.
The Kansas State University Institute for Commercialization works with the startup and development of intellectual properties and acts as the university's marketing and licensing agent. The partnership with Abaxis benefits Kansas State University and the Manhattan, Kan., community, said Kent Glasscock, president of the Institute for Commercialization.
"Abaxis and similar private sector endeavors will serve to create increased sponsored research, opportunities for students and faculty, and a strong economic return back to the university and regional economy," Glasscock said. "Such partnerships will help create an even longer global reach for Kansas State University, while at the same time generating returns that will serve to advance the vision of its 2025 goals."
Collaborating with Abaxis led to developing an innovative full-service commercial laboratory in Olathe, Kan., that's available to veterinarians throughout the nation. The Abaxis Veterinary Reference Laboratory, or AVRL, has all of the latest technology and is equivalent to a large-sale clinical laboratory.
In addition to enhancing the field of veterinary medicine, approximately 100 jobs will be created in the area during the next 10 years as the lab becomes fully operational.
"This partnership has allowed us to quickly begin assisting Abaxis in commercializing high quality products," Glasscock said. "The collaboration of the educated staff of Abaxis and the strength of the university's commercial arm allows for the development of superior products and efficient services."
Since starting in 1994 the institute has created more than 170 jobs in the region with salaries that average $57,000 annually. In the past decade the institute has generated nearly $165 million in new revenue within Manhattan and brings in about $1 million in revenue to the area each month.
