A researcher from a university wants to use our application & software platform to conduct research. Any advice on how to work together?

Typically a university will often have their own type of agreement. If you are participating in any research, they might have a "sponsored research agreement" template which you likely cannot change. Every university is different, so try to learn more before creating your own template. Avoid anything around transfer of IP, so almost like the researcher is paying for a software license, and not for any development work.