The result is a new record for University of Pittsburgh and includes two businesses delivering surgical apparatus and one developing a poisoning antibody.

University of Pittsburgh (Pitt) produced a record 23 spinouts during the 2018 fiscal year, up from 15 and 13 companies in 2017 and 2016 respectively, the university said on Wednesday.

Pittsburgh’s commercialisation hub, Innovation Institute, counted 363 invention disclosures over the period, up from 329 during fiscal year 2017. The university secured 98 patents, slightly down on the record of 102 reported last year.

The number of licence and option agreements also hit a new high of 162 from the…