golden horseshoe bioscience network – solutions for life golden horseshoe biosciences network –...

Golden Horseshoe Bioscience Network – Solutions for LifeGolden Horseshoe Biosciences Network – Solutions for Life

Darlene Homonko, PhDExecutive Directorhomonko@mcmaster.cawww.ghbn.orgCommercialization of Innovative

Research: Implementing Solutions that Work for CanadaOsgoode Hall ,York UniversityToronto ON

Thoughts for Successful Commercialization

March 20, 2009

Golden Horseshoe Bioscience Network – Solutions for Life

Partners in a Regional Innovation Initiative

Network of business leaders, researchers, entrepreneurs, and economicdevelopment officers involved in biosciences, biotechnology, and related fields

Industry

Academic Institutions

Health Sciences Centres & Hospitals

Federal & Provincial

Government

Business Support Services

Other Regions & Consortia

Municipal Governments

GHBN

Golden Horseshoe Bioscience Network – Solutions for Life

Fundamentals

1. Assets

2. Opportunity

3. Resources

Golden Horseshoe Bioscience Network – Solutions for Life

Cultures with Different Values

Academia

Publish

Research

Share information

Answer to public

Inclusive

Driven by ideas

Time insensitive

Industry

Patent

Development

Secretive

Answer to shareholders

Exclusive

Driven by markets

Time sensitive

Golden Horseshoe Bioscience Network – Solutions for Life

Currency for Commercialization

Research outcomes that produce value -

Intellectual Assets– Patents– Copyrights– Trademarks– Know How

Golden Horseshoe Bioscience Network – Solutions for Life

The Opportunity

3 Fundamental ‘Value Drivers’ -

• Competitive Product Advantage/ Markets

• Technology/IP opportunities

• Management

Golden Horseshoe Bioscience Network – Solutions for Life

Keys to Early Stage Success

Orientation to products, markets and partnersFocus on scientific milestonesPatent strategyOperationally sound development planManagementFounders need to be engaged Commercial expertiseCreate value at every development stage

Golden Horseshoe Bioscience Network – Solutions for Life

Issues Affecting Successful Commercialization

Technology or Intellectual Property 38%Economics/ROI 35%Market 27%

Golden Horseshoe Bioscience Network – Solutions for LifeGolden Horseshoe Biosciences Network – Solutions for Life

Darlene Homonko, PhDExecutive Directorhomonko@mcmaster.cawww.ghbn.org

Darlene Homonko, PhDwww.ghbn.org

homonko@mcmaster.ca