Indiana University Bloomington students are diving into the life sciences industry by learning about its complexities and intricate network of relationships that aid in bringing innovative health solutions to market.
The IU Innovation and Commercialization Office is a sponsor of a course offered by the IU Kelley School of Business, “Life Sciences from Research to Patients.” It provides students with opportunities to hear from industry professionals and participate in a real-world project focused on solving a market problem.
Offered to both undergraduate and graduate students, the class provides the 43 students with an opportunity to use what they’ve heard from the guest speakers and from guest lecturers in its companion course, “Life Sciences Global Trends.”
Each class in the course covers a different part of the healthcare ecosystem, while three guest lecturers present, take group questions and answer one-on-one questions from students. The sponsored funds, provided by the ICO, will go toward providing prize money for the top final student presentations.
“This course gives students an idea of the breadth of the healthcare ecosystem and, through all the guest lecturers brought in, examples of career paths available in the industry,” said George Telthorst, a senior lecturer and director of the Center for the Business of Life Sciences at the Kelley School. “Due to its industry focus, besides those in Kelley, it attracts students from a variety of other programs on campus like healthcare management, biotech, biology and public health.”
Lakshmi Sastry-Dent, a senior manager of biotechnology and life sciences within the ICO, presented to students about the technology commercialization process for bringing life science technologies to market to address critical issues. In the class, Lakshmi covered the basics of academic tech transfer and how ICO supports the transition of IU research from discovery to market.
“This class is an excellent opportunity for students to learn more about the life sciences industry and explore career opportunities they might not have considered previously,” said Sastry-Dent. “I enjoyed participating in this class tremendously, as the students were very engaged and asked thoughtful questions.”
Telthorst organized the course to expose students to different sectors of the life sciences industry, such as medical devices, pharmaceuticals, biotechnology and the basic sciences to give them an understanding of some of the challenges and opportunities the industry currently faces.
Unlike most programs that only cover one portion of the life science industry, the class spans the entire life sciences spectrum, allowing students to understand the whole value chain and how each part of the puzzle aids in bringing healthcare and medical products to the market.
Rex Rumsey, an MBA student at Kelley, said that the class offers an insider’s view of one of the largest and most unique markets, and seamlessly bridges academic learning with real-world application. By collaborating with industry professionals and interdisciplinary peers, Rumsey said he is able develop the skills needed to tackle multifaceted challenges in innovative, cutting-edge ways.
During the course, the students engage with Relate XR, an IU faculty startup, headquartered in Indianapolis, that leverages virtual reality technology to address substance abuse disorders, to develop an innovative commercialization plan that addresses a market problem.
Relate XR is one of several IU-affiliated companies that will compete for top honors next month at the 2025 Mira Awards, which honor the best innovations and tech entrepreneurs in Indiana. The company’s founding team members include co-founder Brandon Oberlin, an assistant professor of psychiatry at the IU School of Medicine with 20 years of experience in addictions research; IU Bloomington digital arts graduate Andrew Nelson, who owns Indianapolis-based gaming company Half Full Nelson; and Izzy Branam, of Zionsville, Indiana, an undergraduate student studying organizational and business psychology in the Department of Psychological and Brain Sciences at IU Bloomington’s College of Arts and Sciences. Branam also serves as a community manager at IU Innovates, a university-wide initiative to support faculty and student entrepreneurs.
“Through partnership with Relate XR, I am gaining the opportunity to transform ideas into impact, mastering the art of navigating stakeholders and crafting scalable business models that can redefine patient care,” Rumsey said.
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