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Title Slide Marjorie Hunter, JD Associate Vice President OTT, URMC Class of '62 Auditorium December 8, 2011 An Overview of University Technology Transfer.

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Presentation on theme: "Title Slide Marjorie Hunter, JD Associate Vice President OTT, URMC Class of '62 Auditorium December 8, 2011 An Overview of University Technology Transfer."— Presentation transcript:

1 Title Slide Marjorie Hunter, JD Associate Vice President OTT, URMC Class of '62 Auditorium December 8, 2011 An Overview of University Technology Transfer 1

2 2 Technology Transfer in Academia Translation of Research into New Products and Services to Benefit the Public in fulfillment of the Academic Mission: EducationEducation ResearchResearch Public Benefit/ Patient CarePublic Benefit/ Patient Care Economic Development/ CommunityEconomic Development/ Community 2

3 33 Paradigms Academia Academic Freedom Broad Access to Information Business Control of Dissemination Control of Access 3

4 4 Why do Technology Transfer? Bayh-Dole Act of 1980Bayh-Dole Act of 1980 Potential for significant long term revenue streamsPotential for significant long term revenue streams Faculty recruitment and retentionFaculty recruitment and retention 4

5 5 Bayh-Dole Act of 1980 Allows universities to retain rights in inventions resulting from federally-funded researchAllows universities to retain rights in inventions resulting from federally-funded research –Requires sharing of these revenues with inventors Encourages licensing to industryEncourages licensing to industry –Requires licensing of inventions in a manner to bring them to practical application 5

6 6 University Technology Transfer Activity (AUTM 2005 Annual Report) 228 Universities and Academic Institutions reporting228 Universities and Academic Institutions reporting $42.3 billion in research expenditures$42.3 billion in research expenditures 17,382 invention disclosures17,382 invention disclosures 15,115 US patent applications15,115 US patent applications 4,932 new licenses and options4,932 new licenses and options 6

7 7 What is Technology Transfer? Mission:Mission: –To facilitate the transfer of technology arising from URMC research to industry for the benefit of the public good by creating new and useful products and promoting economic development. Successful transfers generate unrestricted funds to support future research, motivate inventors, attract and retain high quality faculty and industrial support for research. 7

8 8 Goals Increase technologies transferred to industryIncrease technologies transferred to industry Increase effective participation of facultyIncrease effective participation of faculty Promote and facilitate URMC start-upsPromote and facilitate URMC start-ups Optimize intellectual property portfolioOptimize intellectual property portfolio Expand and advance external relationshipsExpand and advance external relationships 8

9 9 Function of OTT Manage the University’s intellectual propertyManage the University’s intellectual property Advise on intellectual property issues in research contractsAdvise on intellectual property issues in research contracts Negotiate, execute, monitor and enforce University licenses, confidentiality agreements and material transfer agreementsNegotiate, execute, monitor and enforce University licenses, confidentiality agreements and material transfer agreements Assist in formation of start-up companiesAssist in formation of start-up companies 9

10 10 Invention Disclosure Process EvaluationEvaluation Patenting DecisionPatenting Decision Marketing StrategyMarketing Strategy License or Start-up CompanyLicense or Start-up Company 10

11 11 Evaluation Discussions with InventorsDiscussions with Inventors Prior Art SearchesPrior Art Searches Market ResearchMarket Research Industry and Legal ExpertsIndustry and Legal Experts 11

12 12 Patenting Decision Is it patentable?Is it patentable? Is it enforceable?Is it enforceable? License as Biological Material?License as Biological Material? Potential for Generating Future Revenues?Potential for Generating Future Revenues? 12

13 13 Marketing Strategy When to startWhen to start Widespread vs. focusedWidespread vs. focused BundlingBundling Passive vs. ActivePassive vs. Active Inventor contactsInventor contacts 13

14 14 Licensing Strategy Exclusive vs. NonexclusiveExclusive vs. Nonexclusive Fields of UseFields of Use GeographicGeographic Large company vs. Small/Start-up CompanyLarge company vs. Small/Start-up Company 14

15 15 Parameters of a License RevenuesRevenues –License Issue Fee –Annual Minimum Royalties/ License Maintenance Fee –Earned Royalty –Milestone Payments –Equity Reimbursement of Patent CostsReimbursement of Patent Costs 15

16 16 Parameters of a License (cont’d) Due Diligence ProvisionsDue Diligence Provisions –Development Milestones –Commercial Milestones Intellectual PropertyIntellectual Property –Patent Prosecution –Infringement and Litigation Reports and RecordsReports and Records –Audit 16

17 17 Parameters of a License (cont’d) Dispute ResolutionDispute Resolution –Arbitration Indemnification, Warranties and Product LiabilityIndemnification, Warranties and Product Liability Regulatory FilingRegulatory Filing ConfidentialityConfidentiality TerminationTermination 17

18 18 Why do a University Start-Up? Public Benefit and Academic MissionPublic Benefit and Academic Mission Economic DevelopmentEconomic Development Faculty Recruitment and RetentionFaculty Recruitment and Retention Financial IncentivesFinancial Incentives 18

19 19 When to do a University Start-Up There is no easy or best answer 19

20 20 Factors arguing for a start-up Investable CEOInvestable CEO –successful start-up track record –understand, accept and manage risk –comprehend science and developmental process –capable in academic and business environments –realistic expectations –entrepreneurial attitude 20

21 21 Factors arguing for a start-up Intellectual Property Assessment:Intellectual Property Assessment: –Are there blocking patents or technologies? –Can the university’s technologies dominate and prevent others from entering the market? Market Opportunity Analysis:Market Opportunity Analysis: –Market applications –Needs assessment –Potential customers –Competition –Obstacles Financial ProjectionsFinancial Projections 21

22 Invention Disclosures Received 22

23 23 All Patent Applications Filed by Fiscal Year 23

24 24 Issued Patents 24

25 25 Active License and Option Agreements

26 26 Royalty Revenue (in millions) 26

27 27 URMCLicensed Products Over 150 products and services including:Over 150 products and services including: 6 vaccines: HIBTiter, Meningtec, Prevnar, Tetraimune, Gardasil, Cervarix Periopertive Checklist COMPAS Analytics 100+ reagents, antibodies and research tools Copyrights Software 27

28 28 URMC Licensees AbbottAbbott Acambis, Inc.Acambis, Inc. Alios BioPharmaAlios BioPharma AndroScienceAndroScience AstraZenecaAstraZeneca Auckland UniServicesAuckland UniServices BayerBayer Becton, DickinsonBecton, Dickinson BloodCenter of WisconsinBloodCenter of Wisconsin Boehringer IngelheimBoehringer Ingelheim Boston ScientificBoston Scientific Bridgekey CorpBridgekey Corp Cardinal HealthCardinal Health Davis InternationalDavis International 28 Roche DiagnositcsRoche Diagnositcs Sanofi-AventisSanofi-Aventis Sanofi PasteurSanofi Pasteur Shanghai EnPei BiotechShanghai EnPei Biotech Siena BiotechSiena Biotech StemCell TechnologiesStemCell Technologies Technolas Perfect VisionTechnolas Perfect Vision TevaTeva UnitherUnither UMDNJUMDNJ Warner- LambertWarner- Lambert Xcellerex, Inc.Xcellerex, Inc. DiaCartaDiaCarta Eli LillyEli Lilly Enzo Life SciencesEnzo Life Sciences ESAESA Fate TherapeuticsFate Therapeutics Genaissance PharmaGenaissance Pharma Genentech, Inc.Genentech, Inc. GlaxoSmithKlineGlaxoSmithKline Green Mountain AntibodiesGreen Mountain Antibodies Harvard UniversityHarvard University HomMedHomMed ImmuQuest LtdImmuQuest Ltd IntegraGen SAIntegraGen SA ISIS PharmaISIS Pharma Johnson & JohnsonJohnson & Johnson Laxdale, Ltd.Laxdale, Ltd. MedimmuneMedimmune MEDSYS TechnologiesMEDSYS Technologies MerckMerck MilliporeMillipore Molecular ExpressMolecular Express Novadaq Technologies, IncNovadaq Technologies, Inc NovartisNovartis Oxford BioTherapeutics LtdOxford BioTherapeutics Ltd Pfizer IncPfizer Inc PharmanovaPharmanova Polysciences, Inc.Polysciences, Inc. Proctor and GambleProctor and Gamble

29 29 URMC Start-Ups AAITAAIT CASCAS EnvisionEnvision iCardiaciCardiac KoningKoning LumetricsLumetrics My HealthMy Health OyagenOyagen 29 OyagenOyagen PharmAdvaPharmAdva PhysioCommPhysioComm RT&IRT&I SocratechSocratech Science Take-OutScience Take-Out VaccinexVaccinex ZZ AlztechZZ Alztech

30 30 Start-Up Formation 30


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