Minister Congratulates UPEI and Nautilus on Licensing Agreement

A new licensing agreement between the University of Prince Edward Island and the Charlottetown biotech firm Nautilus Biosciences Inc. to commercialize an anti-inflammatory drug is another success for the growing Prince Edward Island bioscience sector, says Innovation and Advanced Learning Minister Allan Campbell.

“I would like to congratulate both UPEI and Nautilus on this promising partnership,” said Minister Campbell. “As government works to foster the Island’s bioscience sector through the Island Prosperity Strategy, it is exciting to see successful co-operation between the Island’s post-secondary institutions and industry to generate wealth through innovative products.”

UPEI researchers discovered a process to ferment bacteria from coral to obtain an anti-inflammatory compound called pseudopterosins. UPEI is licensing the discovery to Nautilus for development on a commercial scale.

“This compound has the potential to be marketed for a wide range of uses, from cosmetics to pharmaceuticals,” said Minister Campbell. “Companies need the kind of expertise it takes to develop new products like pseudopterosins to be competitive in today’s economy. Government is working to build a prosperous future for Prince Edward Island by supporting post-secondary institutions and the business community in working together.”

Research has seen a 600 per cent increase at UPEI in the last 10 years.