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0 Where Science Means Business The case of Yissum – The Hebrew University of Jerusalem Renee Ben-Israel, Vice-President – Intellectual Property WIPO: Information.

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Presentation on theme: "0 Where Science Means Business The case of Yissum – The Hebrew University of Jerusalem Renee Ben-Israel, Vice-President – Intellectual Property WIPO: Information."— Presentation transcript:

1 0 Where Science Means Business The case of Yissum – The Hebrew University of Jerusalem Renee Ben-Israel, Vice-President – Intellectual Property WIPO: Information Meeting on Intellectual Property Financing Geneva – 10 March 2009

2 Summary Introduction Patent strategy Patents and Universities Israels technology and Innovation Israeli universities Yissum Food for thought

3 Patents use Patent strategy may be: Defensive - no intention of developing the invention, main interest: preventing others from doing so. Dominating - plan to use the technology, the processes described in their patents and sue infringing parties. Licensing purposes (in/out/cross)- individuals/institutions that do not intend to manufacture the invention themselves, transfer the rights for development and production to a third party Other purposes (profit centres, aggregators, trolls)

4 Universities patents strategy? Not really Depends on the invention! Platform (enabling) inventions Niche/complementary inventions Use inventions Conceptual inventions University patents are meant for technology transfer

5 University patents University classical mission: Teaching, researching and divulging the knowledge Universities patents: Embryonic – feasibility/market unknown Development requires high risk investment by industry Intellectual property protection can be used as an incentive to make high risk investment motivating the first mover by protecting against later competitors (strategy!)

6 Purposes of University Technology Transfer Participate in innovation process Facilitate the commercialization of research results for the public good Retain and recruit researchers Create closer ties to industry Generate income for further research and education Promote economic growth Social responsibility

7 Purposes of University Technology Transfer Research => Invention (and IP)=> Development => Innovation New products and medicines Bring new technology into industry for economic competitiveness Encourage entrepreneurship for local and national economic development (source: Lita Nelsen – MIT)

8 The Tech Transfer Bargain University research leads to patentbut technology is unproven and high risk University is willing to grant exclusive patent license to Company who will commit to the risk of developing the technology If development succeeds, the patent protects the Company from competitors University benefits from product being developed and from royalties (shared with inventor) University also has the opportunity in the license to assure that patents are used in the public interest requiring certain price or geographical concessions for developing countries, if appropriate (source: Lita Nelsen – MIT)

9 Patent protection is particularly critical for development of pharmaceuticals Development of a new therapeutic or vaccine product is a particularly high risk activity Time frames are long Financial investment is very high Clinical trials are very difficult Probability of failure is high Patent protection of the final product is necessary before companies (or biotech investors) will take the risk and make the investment (source: Lita Nelsen – MIT)

10 Pharmaceuticals

11 Israel: data AreaArea - Total 120,770 / 22,072 km2 (151st) 8,019 / 8,522 sq mi - Water (%)~2%20,770 / 22,072 km2151stsq miWater% PopulationPopulation - 2008 estimate 7,282,0002[3] (96th) - 1995 census 5,548,523 - Density324/km2 (34th) 839/sq mi[3]96thDensity34th GDPGDP (PPP)2007 estimate - Total$188.936 billion[4] (52nd) - PPP[4]52nd Per capitaPer capita$27,146[4] (32nd)[4]32nd GDPGDP (nominal)2007 estimate - Total$164.103 billion[4] - [4] Per capitaPer capita$23,578[4] [4]

12 Israel, facts & figures Technology transfer pioneer Brain power + need => use of science to survive, overcome situations Highest % of R&D allocation from GDP (4.7% - 2007)

13 R&D expenditure National expenditure on civilian R&D in 2007 was 4.7% of the GDP. Major increase in R&D companies.

14 Israel, facts & figures 1901- TEVA s foundation 1924- The Technion (Polytechnic Institute) 1925- The Hebrew University of Jerusalem Population with high scientific level, strong inclination to engineering and biological/medical sciences Research units in hospitals – many experimental units Access to …

15 Israel, facts & figures – patents OECD: Israel has the highest percentage of patents in the region: Israel is ranked 6 globally for patents per GDP and 8th for patents per capita

16 Israel: Supporting Infrastructure The Technological Incubators programme, the Tnufa programme, the Noffar fund, the R&D fund. State initiatives matched with private interest meant to foster early stage projects.

17 Israel: Supporting Infrastructure The Magnet, the Mini-Magnet, the generic R&D meant to support joint industry & academic institutions cooperations

18 Israeli Universities Tech Transfer since 1959 (much before the Bayh- Dole act in the US!) At all 7 universities & many research institutions, hospitals Yeda: one of the wealthiest in the world Yissum: 15 th in the world

19 Success stories – a sample Yeda: Bio-Hep B®, recombinant hepatitis B vaccine Copaxone®, 1 st. Innovative drug in Israel, MS immunomodulator Dunaliella®, β carotene health food form alga NDS Ltd., Encryption Algorithm, TV set-top box smart cards Erbitux ®, Antibody therapy with synergism with chemotherapy Technion: Azilect®, Parkinsons Disease And many others

20 19 Over 1/3 of all academic scientific research In Israel 43% of Israels biotechnology research >1/3 of PhD students in Israel 4 Campuses 5 Affiliated Hospitals 24,000 Students 1,000 Researchers (Staff Members) 1,600 Post-Graduate Students in Biotechnology 320 Researchers in Applied Sciences 4,420 Research Projects >100 Research Centres The Hebrew University of Jerusalem

21 20 A Nobel Heritage 2002 Nobel Prize in Economics Daniel Kahneman, Princeton 2004 Nobel Prize in Physics David J. Gross, UC Santa Barbara 2004 Nobel Prize in Chemistry Avram Hershko, Technion Aaron Ciechanover, Technion 2005 Nobel Prize in Economics Robert J. Aumann, Hebrew University 2006 Nobel Prize in Chemistry Roger Kornberg, Stanford

22 21 Top 20 Most Frequently Cited Papers Stem Cells 1998-2004

23 22

24 23 Board of Directors Business leaders Yissum Business-oriented organization Founded 1964 The Hebrew University Non-profit organization Where Science Means Business

25 University Strategy Created a positive atmosphere at the University Established good and clear policies as an incentive to researchers Budget incentives New opportunities Awards/prizes for achievements

26 25 Yissums Mission To promote the transfer of Hebrew University technology for the benefit of society, while maximizing returns to support research, education and scientific excellence Yissum = Hebrew for application

27 Its not that simple! Academic world Business world (Industry, VCs, Start-ups) (to say nothing about market instabilities…) Intellectual Property legal world Contracts – legal/commercial world The rules of the games are different.

28 Yissums strategy Identifies the right situations - matching needs & opportunities Identifies the key elements – to move the project forward Flexibility Professionalism With no interference in the academic freedom!

29 28 Current Snapshot Over $1 Billion annual sales of Hebrew University- based products 5,500 patents 1,600 inventions 480 licenses 65 spin-offs Raised over $165 mil in 2007 from leading VCs and private investors

30 29 A Record of Achievement 2007 revenues $51mil $36 mil royalties and licensing $4.3mil portfolio companies $10mil sponsored research & services HU research budget $107mil Ranked in top 15 worldwide (AUTM) Leading US TTO revenues FY2007 MIT $61mil Research budget: $1.2 Billion Stanford $50mil Research budget: $1 Billion

31 30 Intellectual Property 2007 Snapshot 121 new inventions 93 new patent applications 64 new patents granted Intellectual Property at HU Yissum owns all IP developed at HU Researchers receive 40-60% of revenues 2007 New Inventions

32 31 2008 statistics: Disclosures: 128 New applications filed: 112 PCTs: 44 National Phases: 41/159 (~4 countries) Examination: ~250 Renewals: 500-550 Budget: ~$3M

33 Patents are an expensive game Months First Filing PCTIPERNP Patent Grant Prosecution (Total: 20 years)

34 33 Global Reach

35 34 Yissums Spin-offs Rav-Galai

36 35 Long Shelf Life & Cherry Tomatoes The worlds most popular cocktail hybrids for greenhouse production Prof. Nachum Kedar Prof. Haim Rabinowich Department of Field Crops, Vegetables and Genetics: Faculty of Agriculture, Food And Environmental Sciences The Hebrew University Rehovot Campus 2007 sales $73 million Success Stories - Tomatoes

37 36

38 37 DOXIL ® Doxorubicin HCI liposome injection Alzas Lead Product for Oncology Prof. Yechezkel Barenholz Department of Biochemistry Faculty of Medicine The Hebrew University Of Jerusalem 2007 sales $417 million Success Stories - Doxil

39 38 For Treatment of Alzheimers Disease and Dementia Prof. Marta Weinstock-Rosin Department of Pharmacology Faculty of Medicine The Hebrew University Of Jerusalem 2007 sales $632 million Success Stories - Exelon

40 Food for thought Will emphasis on tech transfer change nature of research from discovery to applied? Will need to collaborate with industry be allowed to inhibit publication and dissemination of results?

41 Food for thought Will privatization of research results retard the progress of science? Will the universities remember their public missiontaking care that IP is used primarily for the public good?

42 Food for thought Will the decrease in government investments in research create a dependency from commercial sources? Will this deviate universities from their missions? It will certainly require a coordinated effort and thought of all involved parts!

43 Conclusion: Is it worth the effort? So far, our experience has been positive!

44 43 Thank you for your attention!

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