UTEK announces new pricing model for its Pharmalicensing online service

UTEK Corporation (NYSE Amex:UTK), a leading IP licensing and innovation services company, is pleased to announce a new pricing model for its Pharmalicensing online service; the pricing will be effective starting January 13th.

“In 2009, we spent considerable effort listening to our clients on how we might serve the marketplace better. I believe this pricing change will further extend our lead and continue to make our marketplace the most efficient and highly trafficked online licensing platform in the pharmaceutical sector.”

UTEK’s new Pay-per-Click pricing will create further market efficiencies for the Company’s leading online licensing and partnering platform for the pharmaceutical industry. The pricing will provide additional opportunities for buyers and sellers to access the platform, and create a larger online IP marketplace. Pharmalicensing.com currently directs more than 190,000 visitors each month to emerging partnering opportunities posted by companies worldwide.

“In 2009, we spent considerable effort listening to our clients on how we might serve the marketplace better. I believe this pricing change will further extend our lead and continue to make our marketplace the most efficient and highly trafficked online licensing platform in the pharmaceutical sector.” Mark McBride, Managing Director of UTEK Pharmalicensing continues, “Our Pay-per-Click option is intended to remove pricing barriers for users of our service, increasing our base of potential clients. We continue to take as much risk as possible out of our clients’ partner search process, and offer our visitors more opportunities to fill their drug pipelines.”

All new clients will be eligible for the pricing structure, which will enable companies to post their profile and only pay for qualified traffic. Pay-per-Click clients will pay only for the partnering opportunities or potential partner click-throughs they receive. The Company plans to expand the new pricing model to its Medical Device Licensing platform as well as additional licensing platforms to be launched in 2010.