1. 26 February 2009 Timothy Barnes, Executive Director, UCL Advances Cengiz Tarhan, Managing Director, UCL Business PLC Enterprise Engagement at UCL

2. Overview

3. UCL - London’s research and teaching powerhouse Established over 180 years ago the first university in England to admit students of any race, class or religion, and the first to welcome women on equal terms with men The first in England to teach experimental science, modern European languages, Laws… Many research firsts: –The first transatlantic connection of the precursor of the internet –The identification of the generation and propagation of nervous impulses –The discovery of inert gases, including neon –The invention of the thermionic valve, which made radio and modern electronics possible –Identification of the binding receptor for HIV

4. 54 academic departments grouped into 8 faculties Multi-disciplinary - from Fine Art to Medicine Internationally-renowned centres of excellence, e.g. –UCL Bartlett faculty of Built Environment –UCL Neuroscience –UCL Slade School of Fine Art Over 4,000 research staff –20 Nobel Prize winners (including Mahatma Gandhi, Andrew Huxley and Bernard Katz …) –34 Fellows of the Royal Society –77 Fellows of the Academy of Medical Sciences Over £600M per year in research

5. UCL Enterprise Strategy UCL Advances Developing the culture of business and entrepreneurship Knowledge dissemination Knowledge creation Intellectual property Capital and revenue UCL relationships Enterprise engagement Underlying Support from: -Office of VP Enterprise -Corporate Alliances -Business Partnerships -KTP Office -Others Academic Departments Research, publishing and teaching UCL Business Transactions $€£$€£

6. The commercial academic’s story UCL Business UCL Advances Academic Departments 1a – With help from UCL Advances, academic learns potential benefits of collaborating with business, undertakes training and finds opportunity to engage through networking. $€£$€£ 1b – Academic returns to UCL Business with potential commercial project, such as spin-out, license or consulting. UCL Business carry-out due diligence, assist with patenting, provide proof-of- concept funding, company formation and other services and assistance as required. 2 – The project makes financial returns that are distributed to the researcher, their academic department and UCL Business. The project leads to new links that return research publications and opportunities to UCL. $ € £ 3 – The project becomes a case study for research and the successful academic is championed by UCL Advances to inspire others at UCL and beyond, which helps attract talent to the academic department and UCL as a whole.

7. UCL Advances

8. Introduction to UCL Advances Founded in 2007 as UCL’s centre for entrepreneurship and business interaction Forms part of a unique arrangement among UK universities in delivering knowledge transfer to businesses Aims to bring together academic researchers, businesses and investors and stimulate new collaborations that will drive innovations that benefit the economy and society

9. Support Schemes Provide inducements to engage and collaborate Make them more effective by developing new capabilities Training and Skills Building collaborations - a three step process Bring people together by catalysing connections Events and Networking

10. Events and networking Bringing people together –Technology Innovation Forums 3 per year, each forming the core of annual theme programme –Hosted events Bringing external organisations into UCL, supporting other activities –UCL Awards for Enterprise Six categories rewarding entrepreneurship and commercial engagement for faculty and students Maintaining links –‘Speed-dating’ events for those interested in collaborating –UCL Additions social networking system at www.ucladditions.com

11. Training and development London Entrepreneurs’ Challenge –Entry-level programme in the basics of starting a business with 300-400 participants per year Scientists and Researchers in the Business World –Deeper training for faculty and researchers in a broad set of business concepts Marketing Science to Business –For faculty and researchers, working on specific skill sets in depth Online Entrepreneurship Resources –Supporting programmes across UCL; available to all

12. Support schemes Providing support with negotiating knowledge transfer support schemes at UCL Delivery of ‘Knowledge Exchange Associates’ –KTA-funded programme to place five completing PhD students into SMEs to transfer skills and know-how Secondment-into-Knowledge –LDA programme supporting academics across London that work with SME’s to solve technical problems

13. UCL Business

14. Introduction Commercial arm of UCL Wholly-owned Relationship governed by MoU between UCL and UCLB Financially self-sufficient Profitable Strong Board with industry expertise Interface between UCL and industry

15. Financial performance 2007/8 2006/7 2005/6 2004/5 Core Activity £’000 Turnover 6,209 5,351 3,460 3,673 Expenditure 5,925 5,102 3,213 3,557 Profit on core activities 284 249 247 116 (Proceeds from spin outs not in above) (7,349) (18) (915) (11,733) Excludes any capital appreciation or impairment of investments

16. Deals delivered Status No. of projects at December 2008 Activity for 2007/8 Activity for 2006/7 Invention (IDF) 709568 Patented 553241 Exemplification (POC) 251518 Marketing & negotiation 63-- Licenses2173428 Investments 1523 Companies 4515

17. Company creation example: Medic-to-Medic Created in 2000 Direct investment £1.7M 2004 - £10M contract with Fujitsu 2005 - £20M contract with Accenture 2005 - Asset sale to Informa PLC - £10.5M 2008 – Acquired by Hearst for an undisclosed sum Profit £5M (£1.5M each to UCL and Royal Free Hospital) Map of Medicine product now available to 52 m UK residents at www.nhs.uk and at the core of the NHS connecting for health programme

18. Licensing Example: Hepatic Encephalopathy Project Therapeutic area - liver failure (annual market >$500M) Initially invested ≈£60K PoC funds to validate and secure IP position UCLB then committed £500K mile-stoned funding Efficacy studies on new formulation (PK/PD) Toxicology studies (outsource) GMP production for First in Man CTA to MHRA A further £750K received from a MRC Experimental Medicine grant December 2008 - Licensed out for $40m package + royalties

19. Thank-you

20. 26 February 2009 Timothy Barnes, Executive Director, UCL Advances t.barnes@ucl.ac.uk www.ucl.ac.uk/advances Cengiz Tarhan, Managing Director, UCL Business PLC c.tarhan@ucl.ac.uk www.uclb.com