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University Licensing Dominique Kleyn 27 th June 2003

University Licensing Dominique Kleyn 27 th June 2003. Overview of Innovations. Technology transfer arm of Imperial Aim to maximise the value returned to Imperial from the commercialisation of intellectual assets and to support the attraction and retention of quality academic staff

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University Licensing Dominique Kleyn 27 th June 2003

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  1. University LicensingDominique Kleyn27th June 2003

  2. Overview of Innovations • Technology transfer arm of Imperial • Aim to maximise the value returned to Imperial from the commercialisation of intellectual assets and to support the attraction and retention of quality academic staff • Transparent and equitable process to make money for the College and reward inventors

  3. Experience & Diversity • Working with 150 inventions per year • Filing 1 new patent per week • Extensive industrial experience • Established licensing and spin-out processes • Interdisciplinary working

  4. Successes at Imperial • Drug development eg Remicade, Temezolamide, Malavone • Spin-out listing eg Turbogenset • Portfolio sale eg Fleming • Seed funding eg University Challenge • Co-investment eg Nikko

  5. Early years • DTI headcount support (£750k) • Create Company Maker, establish spin-out process, build support networks • University Challenge Seed Fund (£4m) • 2 tier investments, external advisory committee, rigorous assessment process • Science Enterprise Challenge (£2m) • Entrepreneurship Centre established, entrepreneurs programme introduced

  6. Period of growth • Rapid formation of spin-outs • Rapid growth of Innovations team • increases from 5 to 25 FTE • New finance initiatives • NIKKO – extending UCSF • Fleming – realising equity • Paul Capital - royalty sale

  7. Innovations 1997 to 2002

  8. Innovations approach • Inform & educate • Identify & assess • Protect & publish • Explore & exploit • Develop & maintain

  9. Well trodden path

  10. Decision making • Due diligence on technology • Engagement of patent agent to proceed with filing • Licence or spin-out • Due diligence on commercial potential • Type of marketing? • Terms of agreement?

  11. Typical concerns • Cost of patenting process and funding for technology exemplification • Seeking external endorsement • Ability to discern optimal use and access right partners • Diversion of effort away from research

  12. Observations on licensing • Universities are focussing more on interfacing with potential partners and have developed a better base of industrial experience in tech transfer • New generation of SME’s can make good licensing partners • Licensors are seeking certainty and are reluctant to commit to royalties • Spin-outs are also licensing vehicles

  13. International perspective • Exploit Technologies Singapore and University of Columbia New York • Leverage opportunities for international licensing and spin-out activity • Access to international networks of investors and industrial partners • Technology exchange and joint commercialisation • Further understanding of commercial needs

  14. Funding for Innovations • Service fees from College and industry • Balance of spin-outs and licences • Limited ability to fund technology development before licensing • Equity squeeze for those unable to follow on • Diminished returns to universities • Development fund management fees • Commercialise industry’s unexploited IP

  15. Conclusions • Technology transfer has been transformed by spin-out activity • Universities are developing a supportive environment for commercialisation • Access to technology development funding and management expertise is key

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