In September 2020, RCSI licensed three bone and cartilage regenerative technologies to Locate Bio, an innovative orthobiologics company. The technologies have subsequently been granted FDA breakthrough device designation, a key milestone for Locate Bio as it validates the technology and will simplify its regulatory pathway. Licensing this high value IP from RCSI provided additional breadth and depth to Locate Bio’s orthobiologics portfolio and significantly enhanced its investment proposition. The company completed a Series A financing round in 2021 and is embarking on its next stage of growth.
The Innovation Office at RCSI was pivotal in licensing these technologies to Locate Bio. The technologies had previously been licensed by RCSI to another company that subsequently entered liquidation and the Innovation Office successfully negotiated the return of the related IP. The office then negotiated access to company-owned improvements before licensing the new IP package to Locate Bio.