On 18 October 2017, ULM officially signed a license agreement with newly-formed university spinoff company, Oleolive. This is the result of the recent SSM contract with ULM to help commercialize scientific discoveries from the School of Pharmacy. Jim Cardelli (CTO) and Alana Gray (COO) co-founded Oleolive, along with Kiley Grant (CEO), Amal Kaddoumi (Chief Scientist - Neuroscience and Biopharmaceutics) and Khalid El Sayed (Chief Scientist - Medicinal Chemistry). Oleolive will isolate oleocanthal from olive oil, a primary ingredient contributing to the health benefits of olive oil. Oleocanthal will be sold to scientists looking to generate further scientific data on this compound, and research and production will be performed in-house to generate oleocanthal-based health products.