Amendment 2 supporters worry that public uncertainty about other amendments or the initiative could cast a shadow on all ballot issues.

So they went on the offense.

In a news conference Thursday to show off Cognetix Inc., a 7-year-old Research Park-based pharmaceutical company that is a spinoff from research at the University of Utah, these officials laid out why Amendment 2 is critical for research universities.

"It's all about growing Utah's economy. One of our best chances for doing that is starting new technology companies," said Commissioner of Higher Education Richard Kendell. He noted that the legislation that created Amendment 2 had unanimous support in the Utah Senate and a 68-2 approval in the House.

"We hope everyone will support it on Nov. 2," Kendell said.

Amendment 2 would amend the Utah Constitution to allow state-owned institutions, such as the University of Utah and Utah State University, to legally hold an ownership interest in private companies that have their origin in research conducted at the public schools.

It's something both the U. and USU already are doing. The amendment simply cleans up constitutional language so the institutions have proper standing to benefit from ideas, formulas and products that result from research on the campuses.

Cognetix Chairman Denny Farrar said his company's biochemistry researchers are conducting clinical trials on pain formula for people with spinal-cord injuries.

If Amendment 2 passes and Cognetix's new drugs proved successful, the U. and the people of Utah will benefit, Farrar said.

California-based Stanford University "made more than $300 million selling its initial equity stake" in the Internet search engine Google. The University of Florida licensed Gatorade and the "revenue keeps rolling into that school," Farrar said.

Ray Gesteland, vice president for research at the U., said universities do not "lay out any cash" to buy stock in these startup companies. The schools' primary investments are the things they already have, such as high-quality labs, computers, scientists and students, he said.

Jeffrey Gochnour, director of the state's Department of Community and Economic Development, also urged voters to approve Amendment 2.

"It's a win for the state because it allows jobs to be created in Utah and stay in Utah," Gochnour said. "Good, high-paying jobs are critical to Utah's economic development."

sykes@sltrib.com