IP M ANAGEMENT @ U NIVERSITIES …30-31 O CTOBER ’14 Boğaziçi University, Istanbul, Turkey “U NIVERSITY -I NDUSTRY P ARTNERSHIPS : S UCCESS S TORIES ” C OULTER -D REXEL T RANSLATIONAL R ESEARCH P ARTNERSHIP A M ODEL TO C OMMERCIALIZE A CADEMIC IP By B ANU O NARAL , P H D S ENIOR A DVISOR – S TRATEGIC P ARTNERSHIPS T EKNOPARK I STANBUL , T URKEY & H. H. S UN P ROFESSOR AND D IRECTOR A ND D AVOOD T ASHAYYOD C OULTER P ROJECT D IRECTOR S CHOOL OF B IOMEDICAL E NGINEERING , S CIENCE AND H EALTH S YSTEMS D REXEL U NIVERSITY P HILADELPHIA PA, USA
F USING A CADEMIC AND B USINESS C ULTURES TO COMMERCIALIZE UNIVERSITY RESEARCH Unmet clinical need Assemble all those who bring value to commercialization – Academics bring scientific and technological goods – Industry provides commercialization means – Shared mission implemented through concrete projects Entrepreneurs, lawyers, business and economic development professionals and investors embedded in the academic trenches Project management discipline is a MUST One size does not fit all – local rules of engagement
D IMENSIONS O F T RANSLATIONAL R ESEARCH Road map to accelerate commercialization of university innovation • De-risking process that brings university biomedical innovations to a critical endpoint • Compressed timelines and laser focus effort • Attract follow-on funding from ‘professional investors’ or industry: SUCCESS METRICS Project Management • Office of Coulter Project Director • Deliverables, Milestones & Budgets Due Diligence • Market Research – Go/No Go • IP – Patentability & F reedom to Operate • Regulatory Pathway • Reimbursement Diligence is the mother of good luck Benjamin F ranklin (Poor Richard's Almanack, 1736)
A T RANS F ORMATIVE P ARTNERSHIP A N ATIONAL B EST P RACTICE … that fuses academic and business cultures Starting in 2006 Boston University Case Western Reserve University Drexel University* Duke University Georgia Technology Institute University of Michigan Stanford University University of Virginia University of Washington University of Wisconsin J oined in 2011 Columbia University J ohns Hopkins University University of Louisville University of Missouri “ Science serves humanity” University of Pittsburgh University of Southern California …Address unmet needs in healthcare
F RAMEWORK Working Hypothesis An industry like approach for product development Can be established in the universities Will accelerate the translation of innovation to market place Investment Guidelines Develop products for the improved management of unmet or poorly met clinical needs: For any significant medical problems or diseases Demonstrable clinical impact and improve patient lives Invasive and non-invasive medical devices Diagnostic or therapeutic technologies Clinical software Hybrid hardware-software systems
O UR E XPANDING C OMMERCIALIZATION C OMMUNITY Drexel Partners R ETHINKING P HILADELPHIA ✓ Medicine; Public Health; Nursing and Health Professions; Arts and R EINVENTING P HILADELPHIA ✓ Science; Engineering; Information Science; Media Arts and Design; Business and Law A CTION P HILADELPHIA Economic Development Agencies & Trade Organizations Ben Franklin Technology Partners, BioAdvance, PA Bio, Philadelphia NOW! Industrial Development Corporation, Select Greater Philadelphia, University City Science Center… Corporate Partners Exponent, Integra Life Sciences, Shire, Johnson and Johnson… Institutional Partners …W HE R E IT ALL BEGAN Children’s Hospital of Philadelphia (CHOP); Fox Chase Cancer Research Institute; Good Shepherd Rehabilitation Network; Inglis Foundation; Lankenau Hospital; Monell Chemical Senses Center; Shriners Hospitals for Children; Thomas Jefferson University; University of Pennsylvania; Wistar Institute… Business Development, Legal and Investment Partners… Alumni and F riends… …State of Pennsylvania and F ederal Agencies
W HY D REXEL ? • Misssion & Mandate: Relevance to the clinic and the industry • Translational research track record • Multi-disciplinary and multi-institutional culture • end to end solutions • Committed to engagement with industry and investment community • Access to a far-reaching network of innovation partners Global Innovation Partners Turkey: Regional health innovtion movements: INOVIZ, INOVAnkara, INOVITA… Teknopark Istanbul, OSTIM, DEpark, EGE Teknopark… + Regional Innovation Partners China: Shanghai Jiao Tong University – Med-X Research Institute, Dual PhD; Drexel - Shanghai Advanced Research Institute (SARI) Israel: Hebrew University - Institute for Drug Research; Hadassah Medical Center; Yissum Technology Transfer; Haifa University – Edmond J. Safra Brain Research Center
I MPACT I NVEST I MPLEMENT L EVERAGE O UTCOMES N ATIONAL C OULTER T RANSLATIONAL R ESEARCH - P ARTNERSHIP O UTCOMES 6 TH Y EAR A UDITED R ESULTS (A S OF D ECEMBER 31, 2012) Number of US$ in million projects Funded projects ~250 56 VC funding 40 352.2 Repeat VC funding 13 119.4 New VC funding 12 79.9 Industry 29 Success rate to license to VC/A 27.6% funded startup or Industry Projects in clinical trials 11 Partial reporting Projects in the market Partial reporting 9 ROI ~7X
I MPACT I NVEST I MPLEMENT L EVERAGE O UTCOMES 2006 - 11 Commercialization Outcomes • 31 Technologies supported and 10 Technologies seeded • Patents: Invention disclosures 57; Patent applications 91; Issued patents 19 • 12 Technologies licensed (2 Technologies licensed to regional companies - 2 Drexel students hired by regional licensees) • $31M of follow-on funding raised Community Impact • Industry and Corporate Innovation Partnerships • Regional, National and Global Innovation Partnerships D REXEL I NNOVATION N EIGHBORHOOD
C OULTER -D REXEL T RANSLATIONAL R ESEARCH P ARTNERSHIP - L ICENSED T ECHNOLOGIES • VEUSim: A Virtual Endovaginal Ultrasound Simulator for Physician Training • LCL Grafts: Innovative Small Caliber Vascular Grafts for Coronary Bypass • Optical Diagnosis and Treatment Optimization in Chronic Diabetic Wounds: A Pilot Clinical Study • Living Tissue Sterilization by the Dielectric Barrier Discharge Plasma • Cardiac Biomarker Detection using Q-DOT Immunoassay QLIDA
C OULTER -D REXEL T RANSLATIONAL R ESEARCH P ARTNERSHIP - L ICENSED T ECHNOLOGIES • Bioactive Alimentary Protein-Based Scaffolds (APS) for Wound Healing • Electronic Blood Pressure Wristwatch • Portable Breast Cancer Screening by Elasticity and Mobility Measurement to Locate Tumor Malignancy • Syk Kinase as a Biomarker of Skin UV Damage and Photocarcinogenesis • Biomimetic Aggrecan Injection
C OULTER -D REXEL T RANSLATIONAL R ESEARCH P ARTNERSHIP - L ICENSED T ECHNOLOGIES • Real-time Seizure Detection and Control System using Our Patented Ceramic-base Multisite Electrode • F unctional Near-infrared Spectroscopy as a Monitor for Depth of Anesthesia • Fast Plasma-assisted Hand Disinfection or Sterilization System • Quantum Dots for interaoperative Margin Determination during Breast Cancer Surgery • Non-Invasive Hand-Held Brain Edema Monitoring System
C OULTER -D REXEL T RANSLATIONAL R ESEARCH P ARTNERSHIP - L ICENSED T ECHNOLOGIES • Maternity " Smart F abric Bellyband " to Monitor Uterine Activity and Assess Fetal Well-being • Ultrasound for Localizing Endotracheal Tubes (ETTs) in Neonates • Diagnosis of Tissue Damage (Bed Sores) from Micron to Centimeter Depths Using Non-Contact Near Infrared • Nanoscale Thin Coatings for Neural Prostheses (Seed) • Functional Near-infrared Spectroscopy for Assessment in Schizophrenia (Seed) • Injectable Hydrogel Loaded with Particles Releasing Minocycline for Spinal Cord Repair (Seed) • Plasma-activated Antimicrobial Wound Dressing (Seed)
C H R ONOLOGICAL P E R SPECTIVE OF T R ANSLATIONAL R ESEA R CH AT D R EXEL U NIVE R SITY • B iomedical Engineering and Science Institute founded, 1960 • R eorganized as the School of B iomedical Engineering, 1998 – New mission: Move discoveries to healthcare • Alumni participation - First Entrepreneurship in B iomedical Engineering course taught, 2000 • Outreach to university and regional partners (other universities, research institutes, development agencies), 2001 • T echnology T ransfer Office established – One licensing professional, 2004 • Coulter T ranslational Partnership Program announced, 2004 • Coulter T ranslational Partnership Competition (80 Universities), 2005 • D rexel wins the Coulter T P award together with 9 other Universities (Conditional on recruitment of additional licensing professionals), 2006 • R ob Loring, an Alumnus, serves as the first Coulter Project D irector • Coulter Endowment awarded to D rexel and 4 other schools, 2011
H OW TO G ET I NVOLVED Collaborative Research Programs Oversight Committee Service • Advise & Mentorship • Consultant / Business Advisor • Out-licensing • Option Agreement • License Agreement • Sponsored Research Agreement
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