The Wellcome Trust An alternative source for funding Dr Ann Mills-Duggan Sydney March 2013
About us Global charitable foundation dedicated to achieving extraordinary improvements in health by supporting the brightest minds.
Our history • Independent charity with strong international presence • Support over 3000 researchers in more than 40 countries • Endowment at the time of Sir Henry Wellcome’s death in 1936 - £73,048 • Now ~£14 billion • Spend ~£640 million per year • Translational Funding > £80 million
The translation gap
Technology Transfer: Our Purpose Bridge the gap between fundamental research and commercial application. Fund applied research and development projects to a stage where they are attractive to a follow- on funder, such as venture capital firms, industry and public- private partnerships.
Translational funding to date Input Output 235 projects supported £806.3 million leveraged Range: £25K - £11.2M 23 exits via M&A/listing or licensing £385 million committed 9 products launched
Therapeutics Vaccines Technology 24% 6% Diagnostics types funded Regenerative 10% Medicine 7% Enabling Technology 22% Medical Devices 31% Infectious Diseases Metabolic & 18% Gastrointestinal Endocrinology 2% 5% Musculo-skeletal Cardiovascular & 8% Circulatory 13% Neurology 11% Therapeutic Other Oncology 20% 11% areas funded Ophthalmology 5% Veterinary 3% Respiratory 4%
Funding schemes Health Innovation Challenge Fund Translation Fund (with UK Department of Health) Seeding Drug R&D for Affordable Discovery Healthcare in India Innovative Pathfinders Engineering for Health (with EPSRC)
Funding schemes – global eligibility Health Innovation Challenge Fund Translation Fund (with UK Department of Health) Seeding Drug R&D for Affordable Discovery Healthcare in India Innovative Pathfinders Engineering for Health (with EPSRC)
Pathfinders • Pilot funding for Academic-Industry partnerships to develop early-stage applied research and development projects in orphan and neglected disease areas • Any aspect of product development can be considered • Wellcome Trust contribution capped at £100 000 - evidence of matching funding contribution from company partner expected
Funding schemes Translation Fund Seeding Drug Discovery
Dispelling Some Myths • Funding is NOT limited to academic institutions • A UK based collaborator is NOT a requirement • These schemes are NOT therapeutic area restricted • Previous Wellcome Trust funding is NOT required
Translation Fund • Looking for truly exceptional, paradigm shifting projects that - due to the combination of potential high impact, risk, scale or complexity - warrant strategic status • Wide range of biomedical developments can be considered, including therapeutics, vaccines, diagnostics, enabling technologies, medical devices and regenerative medicine
Translation Fund – Innovative Projects
Seeding Drug Discovery • Aim to develop drug-like, small molecules that will be the springboard for further research and development by the biotechnology and pharmaceutical industry in areas of unmet medical need • Two entry points for projects • “Early Stage” - ‘Screen to Lead’ • “Late Stage” – ‘Lead Optimisation to Clinic’
Seeding Drug Discovery - Success Stories
Core process The application process Preliminary Application Triage Committee Short Listing Full Application Expert Reviews & Due Diligence Funding Committee
Top tips – what to consider Feasibility, Feasibility, team, market validation Risk Risk Technical Technical Awareness, Timings, content, Milestones Milestones Regulatory preparation suitability Healthcare Impact Current assets, Informing Clinical IP IP potential new IP clinical practice Commercial Commercial Business Model, revenue generation, Competitive advantage, further funding requirements opportunity, reimbursement
Funding model overview Academia • Revenue and Equity sharing SME • Unsecured Convertible loan • Equity conversion 20% discount at an investment round Pharma/Listed companies • Milestone / Royalty based funding
Some awardees
Seeding Drug Discovery in Australia • Dr Matthew Cooper at the University of Queensland • Membrane-targeted antibiotics for complicated skin and skin structure infections caused by multidrug-resistant bacteria. • Dr Joseph Trapani at the Peter Mac Cancer Centre • Perforin Inhibitors for the prevention of allogenic bone marrow stem cell transplant rejection.
For further information Technology Transfer Division The Wellcome Trust 215 Euston Road London NW1 2BE E a.mills-duggan@wellcome.ac.uk E techtransfer@wellcome.ac.uk W www.wellcome.ac.uk/techtransfer Email us to join our mailing list.
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