Correction to FY2016 Metrics

With a focus on delivering on our commitments, Tech Launch Arizona completed our fiscal year on June 30, 2016. Each year at this time, we do an analysis and initial tallying of our achievements, and then report them out as quickly and clearly as possible. Our goal is complete transparency and accountability for ourselves and the entire commercialization enterprise at the University of Arizona.

While our final results are not generally reported until later in the year, this year, we initially reported our results on August 1, 2016.

Regrettably, on September 30, we discovered that two FY2016 agreements were misclassified in our system. They were mistakenly classified as “exclusive agreements,” which means that we had actually executed 47 exclusive licenses and options (as opposed to 49) and the total number of agreements for the fiscal year was 95 (not the originally reported 97).

We are still proud of our accomplishments, having exceeded our stated ABOR goal of 91 agreements even with the correction.

Still, in light of the discovery, we have taken immediate action to correct our processes to avoid any such errors in the future. We have also:

• Added a note on our 8/1/16 announcement page about the correction; and
• Corrected our FY2016 annual report.

Again, transparency and accountability are among our primary concerns, as maintaining the trust and the engagement of all members of the commercialization ecosystem are essential to our continuing success.

Thank you for your understanding. If you have any questions whatsoever, please contact us and we will respond right away.

David N. Allen, Ph.D.
Vice President
Tech Launch Arizona