Six patents by four universities in the province were recently auctioned in Wuhan, for a combined value of 4.54 million yuan ($741,655). The most expensive item, which sold for 1.88 million yuan, was a technology developed by Hubei University of Chinese Medicine to make herbal shampoo. An executive of the company that acquired the patent said it would generate an eight-digit profit. Another nearly 100 patents developed by those universities were displayed and promoted after the auction.

(Source: China Daily)