New York University Trends in Academic Technology Transfer Abram Goldfinger Executive Director Industrial Liaison/Technology Transfer
Mission Statement To promote the commercial development of NYU technologies into products to benefit society, while providing a return to the University to support its research and education missions. New York University
Steps in the Process • Collaboration Invention • Research Funding Faculty member provides • Royalties Disclosure confidential summary of work Evaluation Patenting Marketing Licensing • Assess: • Negotiate : • Present opportunity • File patent − − Patentability License terms to potential partners application to − − Commercial Fees initiate process • Liaison between − attractiveness Royalties inventor & − etc. interested parties New York University
NYU Patenting Activity (Cumulative) • 1198 U.S. Patents Issued • 631 U.S. Patents Licensed (53%) • 412 Active License Agreements • 28 Products brought to market • 13 Products in clinical trials • $2.3B in License Income over past 10 years (1 st in US) New York University
NYU Licensed Drugs on the Market REMICADE SUTENT ~ $6B Worldwide Sales (2009) ~ $1B Worldwide Sales • Rheumatoid Arthritis • Kidney Cancer • Ulcerative Colitis • Stomach Cancer • Crohn’s Disease • Psoriasis • Psoriatic Arthritis • Ankylosing Spondylitis ORACEA ZINECARD ~ $100M Worldwide Sales ~ $7M Worldwide Sales • Rosacea • Reduce chemotherapy side effects New York University
Products on Market (cont.) • HIV Diagnostics • Embolism Coil • Vascular Stent • Dental Implant • MRI Equipment • Orthodontics Acceleration • CPAP systems for • CRM Software sleep apnea • Hip Prosthesis • Sequencing-Based Test for Cancer • TBI Detection System • Touch Screen Systems New York University
Start-Up Activity • 118 companies formed • 50 in last 5 years • > $1 billion raised • 6 companies public, 18 acquired • 78% more start-ups per research $ than national average • $17.5M in equity exits. $28M value of equity currently held. New York University
Recent Biomed Start-Up Milestones Company Technology/Milestone Atreaon Progranulin Derivatives for Inflammatory Disease $18M initial financing completed. BeneVir Oncolytic Virus $12M initial financing completed. BrainScope Quantitative EEG for Traumatic Brain Injury $16M in DoD and NFL grants. FDA approval received. Genovel Early Intervention Knee Implant $2M financing complete. Design finalized. Hy Biopharma Compound for CTCL and other Cancers $14M partnership signed. Phase III trial started. Orphan Drug. Intellect Compound for AD and Friedrich’s Ataxia $16M partnership payment received. Phase II trial completed. New York University
Recent Tech Start-Up Milestones Company Technology/Milestone Clarifai AI-Based Image Recognition Initial $10M financing completed Guardant Genomics Tests $83M follow-on financing completed. Product brought to market. Madbits Image Search Engine Acquired by Twitter Perceptive Pixel Multi-Touch Screen Acquired by Microsoft Spin Transfer Magnetic Random Access Memory $80M financing completed Touchco Touch Screen Technology Acquired by Amazon New York University
BioPharma Licensing Trends • More de-risking by University • More partnerships with disease foundations • Earlier partnerships between start-ups and pharma • More interactive collaborations with pharma New York University
Challenges • Large companies and VC firms seek later stage technologies • Reductions in VC biotech investing • Patent Office requiring more data to issue broad, commercially valuable patents • Translational research and entrepreneurship needed to bridge gap New York University
Translational Research Efforts Initiatives to promote entrepreneurship & economic development • Applied Research Support Fund (ARSF) • Technology Acceleration & Commercialization (TAC) Awards • OTA Virtual Accelerator • Medical Device Accelerator • NYU Innovation Venture Fund & Entrepreneurship Institute • Regional Initiatives (BioAccelerate, Alexandria, NYCEDC & NYS Initiatives, Incubators, etc.) • SBIR/STTR New York University
Translational Research Efforts • Applied Research Support Fund (ARSF) – Investments of up to $75K each to PI in biomedical projects with commercial potential. – $4M invested to date, $30M in license income and $16M in corporate research funding generated. • Technology Acceleration & Commercialization (TAC) Fund – Investments of up to $50K each in tech projects. – 12 investments made to date over 3 years, of which 7 have led to start-up companies so far. New York University
Translational Research Efforts • OTA Virtual Accelerator – Funds development of therapeutics through network of CROs, medicinal chemistry consultants, etc., with guidance from experienced Advisory Board of VCs, Pharma execs, and serial entrepreneurs – 20 projects funded to date, resulting in increased commercialization. • Medical Device Accelerator – Funds development of medical devices through network of prototype developers, regulatory consultants, etc., as well as in- house engineering capabilities. – Increased collaboration with NYU Tandon School of Engineering – 7 projects funded to date New York University
The NYU Office of Therapeutics Alliances (OTA): De-risking drug discovery projects for investors, biopharma and disease foundations Academia Biotech & Investors Pharma Translation Gap De-risked DATA and IP package New York University 15
OTA Operates By Recognizing The Value Proposition of Academic B iomedical Research…And Its Limits Academia Strengths Industry Strengths Novel Disease Biology Compound Screening Novel Platforms Medicinal Chemistry Clinical samples, biomarkers DMPK SOPs OTA is a university- wide “virtual biotech” program to harness external resources via CROs and Seasoned Biopharma Consultants: • Industry grade drug discovery capabilities and expertise • Flexible, specialized and customized partners • Third party validation New York University 16
OTA Current Pipeline Project Area Stage Status Support NYU001 Diabetic Vascular Complications Hit to Lead Active OTA, NIH, HDI NYU004 Immuno-oncology 1 Target Validation Partnered OTA NYU007 Demyelinating Diseases Hit to Lead Active OTA, NMSS NYU008 Wnt-driven Cancers Hit to Lead Partnered OTA, PFNYC NYU009 Relapsing Acute Lymphoblastic Leukemia Hit Finding Active OTA NYU010 Inflammatory Bowel Disease Target Validation Partnered OTA NYU011 Castrate Resistant Prostate Cancer Hit to Lead Active OTA, DOD NYU012 Novel DNA Repair Target For Cancer Hit Finding Partnered OTA NYU013 Inflammatory Bone Disease Hit Finding Active OTA, MRCT NYU014 Glioblastoma Multiforme Target Validation Active OTA NYU015 Gram Negative Infections Hit to Lead Active OTA NYU016 Glioma Hit Finding Partnered OTA NYU017 Tuberculosis Infections Target Validation Active OTA NYU018 Systemic Lupus Erythematosus Hit to Lead Active OTA NYU019 Immuno-oncology 2 Target Validation Partnered OTA NYU020 Immuno-oncology 3 Target Validation Partnered OTA NYU021 Immuno-oncology 4 Target Validation Active OTA Additional metrics since inception in Fall 2013: • > $9M raised to date in supplemental research funding • 3 papers published on supported research New York University 17
Conclusions • Activity has increased significantly in recent years. • Robust technology portfolio for future growth. • NYU research benefitting society. • Increased challenges – Companies and venture capital firms interested in later stage technologies. • Translational research and entrepreneurship must fill gap. • Welcome opportunity to talk further with you. New York University
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