from lab to market accelerating innovations from ideas to commercialization
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From Lab to Market Accelerating Innovations from Ideas to Commercialization. October 22, 2012. Key Take-away Messages. Innovate Calgary is much more than UTI was... h as significant business and investment expertise, & if we don’t have it, we can access it - PowerPoint PPT PresentationTRANSCRIPT
From Lab to MarketAccelerating Innovations from Ideas to Commercialization
October 22, 2012
Key Take-away Messages
Innovate Calgary is much more than UTI was... has significant business and investment
expertise, & if we don’t have it, we can access it wants to help you commercialize your ideas
Agenda
Peter Garrett, Interim PresidentAn Introduction to Innovate Calgary
Jessie Kubes, LicensingFrom Ideas to IP
David Edmonds, Executive-in-ResidenceFrom IP to Company
Our Vision & Mission
VisionTo be the organization of choice for
commercialization and knowledge transfer.
MissionTo accelerate, facilitate and support innovation in the technology sector.
Innovate Calgary Track Record (0ver 30 years)
Over 1,700 invention disclosures and 690 patents issued Over 590 technology commercialization agreements in
over 24 countries generating over $29M for the innovator community
Consistently ranked one of the top 5 Canadian Institutions in licensing revenue (AUTM Surveys)
Over 40 spin-off companies Supported more than 120 companies prepare to present
at financing forums raising over $10.5M in funds Provided over 1,000 tenants and corporate identity clients
with services at the Alastair Ross Technology Centre
Innovate Calgary’s Ecosystem Role
InnovateCalgary
Researchers/Inventors
Entrepreneurs/SME’s Investors
• Connecting the players• Quantity of interactions• Quality of interactions
Innovate Calgary’s Ecosystem Role
InnovateCalgary
Researchers/Inventors
Entrepreneurs/SME’s Investors
• Providing services to the players
Services
Services Services
Innovate Calgary Services
Company Creation Experienced Executives-in-Residence Dedicated business development personnel Access to a variety of services including: legal, communications,
business planning and financial modeling Corporate structure planning to meet regulatory and investor
requirements, and virtual company capabilities Investor Development
Alberta Deal Generator• Largest network of active and accredited investors in Canada pursing
opportunities in Alberta’s early and growth-stage companies• To date, more than $15 million in financing has been facilitated through Alberta
Deal Generator, in addition to more than $30 million in follow-on investments• Joint initiative with TEC Edmonton
Innovate Calgary Services
Facilities Alastair Ross Technology Centre:
• 120,000-sq-foot facility • Flexible leases and support services• Offers both physical space and virtual tenancy
Research Transition Facility (RTF) Partnerships
Offers a suite of customized services to accelerate the start-up process and commercialization efforts for new Centres of Excellence and academic institutes
Entrepreneur Development Coaching & Mentoring Seminars & Workshops Networking
Innovate Calgary Services
Licensing Commercial assessment IP protection & strategy Determine pathway for commercialization Marketing technologies Negotiating technology agreements On-going, post agreement management and administration of
intellectual property Industry Engagement
Provides business-to-business connections between entrepreneurs, SMEs and large enterprise with the goal of assisting in the identification of clients and partners and facilitating partnerships, funding and financing opportunities.
Licensing
Jessie Kubes, LicensingFrom Ideas to IP
Innovate Calgary Commercialization Process
Invention Disclosure
Research Services
Revenue Share Arrangement
Innovate Calgary
Go – No Go
Commercialization Assessment
• Encumbrances• IP Strategy• Patentability• Market assessment• Potential licensees
Report to inventors
Assignment Agreement
Licensing
• Develop technology pitch and market
• File patents• Secure additional funding• Sponsored research and
license negotiation
Company Creation
• Leadership• Expertise• Starter cash
Commercialization Opportunity
•Requires further work
•Pursued by inventor•Abandoned
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30-day technology assessments (free) Evaluate the science and potential benefits of the technology, its
stage of development, funding sources and related encumbrances, relevant scientific and patent literature, potential market and licensees
Commercialization advice and guidance to researchers Licensing team works with researchers to preserve academic
freedom and get technologies into market Develops intellectual property protection and strategy
Established relationships with some of North America’s prominent law firms
Technology Assessment Process
Identify Encumbrances
Are there multiple owners? Joint ownership can come from:
Funding agreements Sponsored research Material transfer agreements Inventors employed elsewhere Inventor or institution owns policy
Have agreements already been made that limit your ability to commercialize?
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Dealing with Encumbrances
Unify ownership All owners assign their rights to the technology (and typically
improvements) to a single entity so they have the authority to negotiate agreements
Retain joint ownership All owners agree on a party, or process to commercialize so
everyone is pulling in the same direction• Who pays costs? • Who leads negotiation?
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Establish appropriate valuations and optimal pathways for commercialization
Market the technology (full-time marketing assistant) Structure and negotiate transactions with industry
partners to maximize value (licensing managers and agreements manager)
Provide ongoing, post-agreement management and administration of IP
Assist with commercialization grant applications i.e.. CIHR POP grants
Following Assignment Agreement
Commercialization Funds
CIHR PoP Phase I and II NSERC Idea to Innovation Phase I and IIa Alberta Ingenuity IRAP Alberta Innovates Voucher Program Alberta Innovates Technology Futures BioAlberta Medical Product Development Program
(MPDP) Gecko funding from TecTerra
Satellite office in the Faculty of Medicine (TRW 5th floor)
Manuscript review prior to publication Actively engaged with two institutes
New initiative launched between AI-HS and Innovate Calgary to assist researchers in mining technologies developed from interdisciplinary team grants
Commercialization support provided by Innovate Calgary Profiling teams to industry IP education for trainees Participation in strategic retreats Reviewing manuscripts and abstracts Presentations
New Proactive Initiatives– AIHS Team Grants
Advantages of Working with Innovate Calgary
Experienced in all aspects of technology transfer and commercialization
Commercialization risk taken on by us E.g. patent and marketing expenses
We protect your academic freedom Provide access to development funds Ensures liability protection for inventors and the
University Allows you to focus on your research
Success Story - Licensing
Piers CatalystsNew Generation Olefin Metathesis Catalysts
• Catalysts for the manipulation of C-C bonds• Can be used in pharmaceutical manufacturing
Dr. Warren Piers and Dr. Patricio RomeroUS Patent issued in April 2008: 7,365,140Licensed to Materia(www.materia-in.com,
Pasadena, CA)Sold via Aldrich (catalogue numbers
707988 & 707961)
Cell Lines for Drug DevelopmentDr. Wayne ChenCell lines to help identify new drug candidates to treat
cardiac conditionsNon-exclusive license agreements with Allergan and
Bayer-Schering
Research tools can be commercialized!
Success Stories - Licensing
Circle Cardiovascular ImagingCalgary-based company selling cardiovascular
imaging software based on Dr. Matthias Friedrich’s technology
Spun out of Innovate Calgary’s company creation program
17 staff, product installed in over 45 sites in 12 countries, raised over $4.3M in financing www.circlecvi.com
Success Stories – Company Creation
Life Science Technology Start-Up
Parvus Therapeutics Dr Pere Santamaria Innovate Calgary provided $230,000 for proof of concept
and IP portfolio development In-kind resources provided: salary (EIR, manager), back office
support etc. Leveraged $2.35 million in additional non-dilutive funding
AHFMR, CIHR, JDRF, NSERC, NRC-IRAP, NanoBridge, NanoVenture Prize 2012, AITF
Issued patents in US, China, NZ. 13 Patents pending in Japan, Aus, Can, Isr and Europe
Currently Seeking 1st round VC funding for preclinical development www.parvustherapeutics.com
Success Story: Company Creation and Licensing
Diagnostic and Therapeutic Devices for Sleep Apnea Dr. John Remmers
One of the first scientists to identify sleep apnea Founding father of the Continuous Positive Air
Pressure (CPAP) device, which was successfully licensed by Innovate Calgary
Licensed exclusively by Innovate Calgary to an international company
More recently Zephyr spun out of Innovate Calgary’s company creation program
www.zephyrsleep.com
Our Licensing Team
David Reese, MSc, MBAJessie Kubes, PhDRobert Carruthers, MEngRaja Singh, MD, PhDChris Nicholls, PhDJim Wilson, PhDRishi Batra, MEngQuang Tran, PhDAndrei Edwards, MBA, JDAngelo Nwigwe, BSc, MBT
Company Creation
David Edmonds, Executive-in-ResidenceFrom IP to Company
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Company Creation (CC) – What we do
We help commercialize very early stage technologies in Southern Alberta through: Identifying talented inventors with
novel technologies and large market potential;
Injecting management, expertise and “starter capital”;
Launching a new company and taking a meaningful ownership stake;
Accelerating the opportunity, through value-added services;
Attracting outside funding, recruiting Boards and senior executives, and “spinning out” the company.
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Our Niche: Funding and Services Gap in the Alberta Tech Sector
VC’s / Public Market
Angels / AVAC /
Accelerate Fund
Gov’t Grants / “Love” Money
Innovate Calgary
CC
Concept / Early
R&D
Later Stage
Revenues
Early or No
Revenues
Prototype / Proof of Concept
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Technology Focus Includes
Energy Generation & Storage
Alternative Energy
Software ElectronicsMicro-Nano
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Our Team
Executives and Entrepreneurs-in-Residence PhD, BEng, BSc, MBAs Founders of 15 start-up companies Raised over $110 million in private and public markets Over 50 years experience as CEOs Managed over 1000 employees
Portfolio Managers Engineers, Scientists, and MBAs Focus on opportunity identification and management
Analysts Scientists, Engineers, Marketing, Finance, and IP
Entrepreneur Backgrounds
Stace Wills: VP Company Creation – ex-Elluminate, co-founder Accolade Capital
Dave Edmonds: EIR (Oiltech and ICT) – founder of Burntsand, Soft Options and other startups
John Lowe: EIR (ICT) – founder of Poynt, The Advisory Group and other startups
John Fallavollita: EIR (Cleantech) – founder and ex-CEO of IOSIL Energy Corp.
Jeremy Krol: Manager, Company Creation – ex-Jennings Capital
David Yiptong: Manager, Company Creation – ex-Nortel Networks
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Our Advantage
Patient capital / earlier-stage focus: We play where most investors won’t
accept the risk Sustainable model:
Company creation costs partially offset by licensing and building revenues
Close ties to southern Alberta academic research community
Complementary to, not competitive with, private industry: We expand angel/VC deal pipeline
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Our Portfolio
10 private companies, mostly based in Calgary
Equity and/or debt participation
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Building Winners
Innovate Calgary raised $1.75M in angel/VC financing and grants. 20 new distributors on board.
Former Company Creation company -- recently raised $3M+ in VC financing. More than doubled revenues this past year.
Therapeutic targeting auto-immune diseases including T1D. Raised ~$3 M in grant funding.
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From the Trenches...Pure Startups
Stage 1: IP Assignment Sponsored Research Agreement between U. of Calgary
engineering chair and 2 large, private companies “Clean” IP title transfer to NewCo
Stage 2: NewCo Launched Incorporation Starter cash provided / grant applications filed Board of Directors and Industry Advisory Board
Stage 3: Off to the Races New patents filed From bench to field trails
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From the Trenches... The “Orphans”
New Talent Added: Innovate Calgary “mentor” (EIR) – David Edmonds New Board and management New business plan and financial model
Financing Closed: $800,000 from private (angel) investors $900,000 from institutional investor $50,000 from government grants
Strengthening IP: Mapping out overall IP Strategy
Next Phase…: Currently working with Apple on product
integration/distribution
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Sample of Technologies in our Pipeline…
Micro-Nano Electronic technologies in the solar energy space
Novel materials and processes for EV battery systems
Novel materials for oil well diagnostics
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Why Innovate Calgary to Create a Company?
MoneyManagementMomentum
Challenges Innovate Calgary can Assist with
Experienced in all aspects of technology transfer and commercialization
Commercialization risk taken on by us i.e. patent and marketing
expenses Ensures liability protection for
inventors and the University Work with University Intellectual
Property terms to negotiate on behalf of researchers
We protect your academic freedom Allow researchers to focus on their
research
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Questions & Discussion
How can U of C inventors and Innovate Calgary partner together to build winning
Alberta companies?
Connect with Us
Innovatecalgary.com403.284.6400