industry and academia partnerships: an inside look into ... · • technology and market...
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Industry and Academia Partnerships: An Inside Look into Technology Transfer
Introduction to Tech Transfer
May 8, 2014
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Moderator:
Carissa Childs
Intellectual Property Attorney
UR Ventures
University of Rochester
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Presenter:
Bill Bond
Director, IP and Tech Transfer
RIT
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Presenter:
David Borkholder, PhD
Bausch and Lomb Associate
Professor of Microsystems
Engineering
RIT
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Presenter:
Patrick Emmerling, PhD,
MBA
Licensing Manager
UR Ventures
University of Rochester
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Presenter:
Alex Zapesochny, Esq.
President, COO
iCardiac
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RIT
Industry and Academia
Partnerships:
An Inside Look into RIT
Bill Bond - Director, IP and Tech Transfer, RIT
David Borkholder - Bausch and Lomb Associate Professor of Microsystems Engineering, RIT
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RIT
Overview of University Tech
Transfer
University research leads to the creation and capture of IP
– Patents; Copyrights, Know-how
We can’t make and sell commercial products (non-profit)
Tech Transfer:
– Provides rights via license or other means to others to commercialize
• NewCo / Start-ups
• Established Companies8
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RIT
Tech. Commercialization / Transfer Why should anyone care?
– Possible Qualitative and Quantitative Economic Advantages
• IP enables premium pricing via product differentiation
• Relieves the owner of the cost to create or invent around
• Reduces R&D expenses
• Improves time to market; provides first mover advantage
• Provides freedom to operate to licensee
• Advanced processes
– Lower cost materials or less material
– Eliminate environmental and/or safety hazards
– Improves quality/reduces defects
– Provides economies of scale
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RIT
RIT at a Glance
RIT Founded: 1829
Students: 15,000 undergrad; 2,900 graduate
1300 Acre Campus
Nine (9) Colleges (Latest is College of Health Sciences opened in Sept. 2011)
Six (6) PhD Programs
Full Time Faculty: 1,032
Number of active funded research awards: 400
Number of grant proposals annually: 700
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RITLicensing – IP Marketing for Tech
Transfer ID Prospects
– Faculty Connections – Papers; Conferences
– Review patent references for assignee names-target the companies.
– Open Innovation Organizations are looking for IP
– Advertise - Flintbox; University web page,
Start-ups vs Established Companies
– Faculty / PI / Inventor Motivation for start-up formation
• Can we help the faculty / PI with start-up guidance
• Evaluate if the IP support a “start-up” initiative
– Can we ID a qualified entrepreneur for a start-up?
– Established Company likely has lower risk for returns
Alternatives include IP sale, brokering, hiring an IP marketing organization or auctioning the IP
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RIT
General Tech Transfer Items
Evolutionary vs Revolutionary Tech/IP
– Number of applications, market segments, markets drives field(s) of use and IP value (not deal value)
• What the Licensor can “give”
Economic payment and rates by Licensor driven by:
– Exclusive or not, fields of use, payments for IP protection, maturity level of technology
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RIT
Intellectual Property (IP) Protection
Patents
– United States
• Provisional
• Full application, a.k.a. Non-provisional and Regular
– International
• PCT or direct nationalization (each nation)
Copyrights
Mask Works
Trademarks
– Service Marks
– Trade Name
Trade Secrets
Know how
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RIT
Possible Rights Granted to Licensee
To make, have made and import
To use
To sell
To distribute
To sub-license
To disclose to others– by publication
– in a marketed product
– in a service manual
To lease
Could be subject to exclusivity and fields of use
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RIT
Tech Transfer Success Story
Licensor = RIT and Owner of IP*
Licensee = Blackbox Biometrics, Inc (B3)(http://blastgauge.com) **
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Blast Gauge™ System sales for domestic and international DoD and Law Enforcement for monitoring blast exposure for triage and to guide treatment of Traumatic Brain Injury (TBI)
Development began – April 2010
License Written- 8/26/2011
Products Sold – Oct 2012
* US Govt. Has rights ** RIT Faculty Start-Up
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RIT
Key Terms B3 Deal Licensor-
– Granted exclusive rights to two pending US patents and non-exclusive rights to one pending US patent and some foreign counterparts and included:
• SW, drawings, bills of materials and “tools” used to make earlier prototypes
• Paying patenting expenses
• Opportunity to take space in RIT incubator
– Retained rights for educational and research purposes
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RIT
Key Terms B3 Deal
Licensee – Provide commercialization plan to licensor to display competence in commercialization of the technology / IP prior to signing the DA
– Provides timely reports regarding
• Running Royalties
• Payments to Licensee
• Updated commercialization plan
May contract for additional research by RIT
Process –
– Term Sheet (TS)
– Definitive Agreement (DA)
Time to deal – TS to DA = 4-5 months
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RIT
Lessons Learned - B3 Deal
Plan for unforeseen delays in reaching agreement
Balance the deal structure for mutual benefit
Recognize intangible/broader benefits of success for community and economic growth
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RIT
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RIT Contacts Bill Bond, MBA; CLP; RTTP
Director, Intellectual Property Management Office, RIT
145 Lomb Memorial Drive (87 (USC) -2469)
Rochester, NY 14623
475-2986
David Borkholder, PhDBausch and Lomb Associate Professor of Microsystems Engineering, RIT
168 Lomb Memorial DriveRochester, NY [email protected]
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Industry and Academia
Partnerships: An Inside Look
into U of R
Patrick Emmerling, PhD, MBA
Licensing Manager, UR Ventures
University of Rochester
Alex Zapesochny, Esq.
President, COO
iCardiac
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Our Mission
Develop UR Innovations into
valuable products and services
to make the world ever better.
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Fundamental ChallengeUniversity Research
Commercial Products/Services
Commercial Interest
• Ground breaking research• Driven by research,
grants, publications• Limited business input
and often no business partner
• Development of solutions valued by the market
• Customer and market driven• Sustainable growth• Seek risk mitigation and
barriers to entry via IP, regulatory, cost advantages
• Risks and interest depend on:
• Proof of concept
• Regulatory hurdles
• Technology and market opportunity
• Corporations vs. Start-ups and Investor
types
• Researcher engagement and team
development
• Limited proof-of-concept investment
Many Technologies get stuck here
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Solution and Focus
University Research
Commercial Products/Services
Commercial Interest
• Prove the concept, e.g.
• Prototyping, customer feedback, market
• Earlier clinical-regulatory input
• Researcher engagement and team
development
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Requires a Concerted Effort
Just as it takes a village to raise a child, it takes a team working
together efficiently to bring a new and exciting innovation to
market:
• UR Ventures Team
• Licensing and IP Professionals
• Inventors
• Industry Experts
• Licensee
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The Commercialization Pathway
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UR Ventures Fresh Perspective on Innovation
Commercialization
• Focused, lean, and team oriented approach to the commercialization of UR Innovations.
• Taking Innovations from the Bench-top to the Bedside to make the world ever better.
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iCardiac Overview
• Founded in 2006 leveraging world-class cardiovascular research:
– Technologies from the University of Rochester Medical Center and Pfizer
– Raised $7 million capital from Pfizer and venture capital firms
– Management team experienced in clinical trials technologies and strongly aligned
• Better assessment of potential cardiac safety side effects of all new drugs:
– FDA, EU, and others require cardiac safety assessment for all drugs under development
– Historical tools were expensive, cumbersome, and left significant uncertainty
– Most extensively validated cardiac safety technology with FDA, industry, and scientific community
• Strong foundation and key market success: 2006-present
– Established as scientific leader in the most complex cardiac safety studies (TQTs)
– Delivered successful projects for largest pharmaceutical companies and channel partners
– Highly valued for unusually exceptional customer service without sacrificing EBITDA
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Initial Relationship
Worldwide leader in the science of heart arrhythmias
30+ years of cardiology/ECG research
World’s largest International Registry for congenital LQTS
Holter based techniques for studying drugs that change heart rate (QTbtb)
15+ years, 150 INDs and 4 marketed products supported with QTbtb
High Precision QT (HPQT)
T-wave Morphology Analysis
QT beat-to-beat (QTbtb) Analysis
Restitution Analysis
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Key Lessons
• The relationship with the scientists is key
• We spent months with Drs. Couderc and
Zareba before the deal
• Can you work together, even through the
difficult times?
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Key Lessons
• UR tech transfer is flexible and fair
• Make sure milestones are realistic and
achievable within timeframes
• Try to minimize early payments
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Key Lessons
• Commercialization is a long process
• You will near certainly need a Plan B (and a
Plan C, D, etc.)
• Your sellable technology may bear little
resemblance to what you initially licensed
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Key Lessons
• The university relationship will evolve
• It starts off providing credibility and a way to
stand out
• It can become an engine for further research
and even help to validate your product ideas
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Questions to Consider (Team)
• What is the motivation of the scientists?
• Will they be there for the long run, even if their initial research doesn’t win out?
• Will you enjoy their company, and will they enjoy yours, over the long run?
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Questions to Consider (Tech)
• Do you have validation beyond academia about the need for the solution?
• What will it take to get the technology customer-ready? (usually a lot)
• Does the technology (and your license) provide you with the flexibility to pivot?
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Questions to Consider (About You)
• Will you feel comfortable being an innovator and a thought partner to the scientists?
• Most academic commercialization is a very long haul. Is that for you?
• Can you always remember that it’s rarely about the science or the technology?
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Contact InformationPatrick Emmerling, PhD, MBA
Licensing Manager
UR Ventures
University of Rochester
(585) 273-3250
Alex Zapesochny, Esq.
President, COO
iCardiac Technologies, Inc.
(585) 295-7610 X102
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Questions?
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Next Webinars in Series
• May 20 – Tech Transfer Innovation
• June 5 – Non-Traditional Funding of Tech Transfer
Register online: http://www.medtech.org/events
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Thank you for your
time!