fy13-14 coulter info session fall 2013 - 10-3-2013 - for...
TRANSCRIPT
COLUMBIA-COULTERTRANSLATIONAL RESEARCH PARTNERSHIP
Accelerating Biomedical Innovation @ Columbia
www.bme.columbia.edu/[email protected]
Agenda
• About the Partnership & Our Mission• The Coulter Process & Program Offering• Application Overview
About the Partnership
• Launched in 2011 with generous support from the Wallace H. Coulter Foundation.
• Led by the Department of Biomedical Engineering, in collaboration with the Departments of Surgery, OrthopaedicSurgery and Radiology, and Columbia Technology Ventures, Columbia’s technology transfer office.
Our Mission
• To position promising biomedical technologies so that they are more attractive to commercial partners who will commit the necessary investment to develop solutions that improve patient outcomes and address underserved healthcare needs.
Academic Innovation “By the Numbers”
~$641B in Researchfunding
~147,000 patent
applications~55,000patentsawarded
55%
37%
~267,500inventiondisclosures
$2.4M / disclosure
42,765 active license & options, 6,885 start‐ups,
130+ new drugs & devices,300,000+ new jobs
16% or ~1 in 6 inventions Ever get licensed
End of One Process is Start of Another
Only 1 in 6 inventionsever gets licensed
Academic Funnel Industry / Investor’s Funnel
Successfulproduct on the market
The Funding & Technology Gap
Basic Research/Raw Ideas
Market‐Focused Business & Product Development
Early Product Commercialization
Government Funding Venture CapitalPrivate Equity
Family Office/High Net Worth
University Gap Funding Venture PhilanthropyLocal Government
SBIR/STTRAngelsEarly VC
“Valley of Death”
Super High‐Risk• Unproven, unstable teams• Burning cash/not making money• Many unanswered business and
technical questions• Immature IP position• Dynamic policy environment
PUBLIC SECTOR PRIVATE SECTOR
TIME$$$
Reduce Risk, Help Bridge the Gap
Basic Research/Raw Ideas
Market‐Focused Business & Product Development
Early Product Commercialization
Government Funding Venture CapitalPrivate Equity
Family Office/High Net Worth
University Gap Funding Venture PhilanthropyLocal Government
SBIR/STTRAngelsEarly VC
“Valley of Death”
Lower Risk More experienced teams Fewer unanswered business and
technical questions IP position and strategy Dynamic policy environment Burning cash/not making money
PUBLIC SECTOR PRIVATE SECTOR
TIME$$$
Proven Accelerator Model
• Since 2005, the Coulter Foundation has partnered with 16 universities to implement the Coulter Process for biomedical technology development, funding more than 200 translational research projects across the nation.
• Roughly 1 in 3 of the projects have resulted in licenses to established companies and/or professionally financed new ventures, altogether raising more than $350M in follow‐on funding.
Agenda
• About the Partnership & Our Mission• The Coulter Process & Program Offering• Application Overview
The Coulter Process
• The Coulter Process involves:– Working closely with intellectual property counsel to track the
evolution of the design and development of your technology– Applying business resources to bring downstream product
development considerations, upstream– Funding to perform specific, determinative “killer” experiments to get
to human studies (as required) and to patients as quickly as possible– Executing projects in a managed process with measurable outcomes
that will enable a go/no‐go decision by commercial partners– Adapting to new information that may take you down a path to a
different application or technical approach or, even, to quit while you’re ahead
What the Coulter Program Offers
Objective • Accelerating biomedical innovation from idea to market
Funding
• Additional $300K worth of in‐kind resources• Intellectual property evaluation and filing• Access to specialized expertise (regulatory, reimbursement)• Access to commercialization advisors (entrepreneurs, industry vets) • Technology marketing and partnering (companies, investors)• Legal agreement transactions (CDAs, MTAs, SRAs, SPAs, IIAs, licenses)• Assistance with SBIR/STTR grants for follow‐on‐funding• Introductions to start‐up resources (space, service providers, mentors)
Non-MonetarySupport
• Up to $700K per year of direct project funding• No set # of projects and no set budget per project• Tranched funding to support technical proof‐of‐concept (payments
based on meeting certain milestones)
Your Project Must:
• Focus on an unmet clinical need.• Answer critical questions necessary to inform a commercial go/no go decision.• Have a reasonable chance of reaching the market in less than 10 years.• Be based on an idea or invention based on Columbia intellectual property.
Your Team Must:
• Be comprised of an engineer and a clinician, at least one of which must have a faculty appointment at Columbia.
• Be open to receiving mentorship, coaching, and external oversight.• Be committed to translating research results into practical clinical application.• Meet regularly with project managers and report to the Board on progress
towards technical and business milestones.• Be willing to kill a project, if the data and the market point to a non‐viable
solution.
Who Should Apply
Agenda
• About the Partnership & Our Mission• The Coulter Process & Program Offering• Application Overview
Application Timeline
Sep 1, 2013Call for
Proposals
Dec 1, 2013
Pre‐Proposal Submission Deadline
Jan 10, 2014
Pre‐Proposal Selection
Apr 1, 2014
Full Proposal SubmissionDeadline
May 2, 2014
Pitch DayPresentation
Mid‐May 2014
Full Proposal Selection
Jul 1, 2014Project Launch
Pre‐Submission Consultation
Full Proposal Bootcamp
• Up to $700,000 available with an additional $300,000 worth of in‐kind resources (marketing, regulatory, reimbursement, and legal)
• No funding limit per project or set number of projects to be selected, but requested budget should suit the size of commercial opportunity
• Historically, 5 to 6 projects funded per year, with budgets ranging from $65K to $210K, and a median award size of $100K
• Projects must be able to reach proposed milestones in ~12 months
Available Funding
Funds MAY be used for: Funds MAY NOT be used for:
salary and fringe benefits for project personnel (other than PIs or Co‐PIs)
salary or fringe for PIs or Co‐PIs
materials and supplies (including animal costs for preclinical studies)
tuition
consumable equipment (e.g. components for systems) space and renovations
subcontracting/outsourcing technical work indirect costs
costs for human studies (e.g. IRB fees, patient recruitment fees, etc.)
fund your start‐up
Allowable Expenses
Online Application: Sign Up/In
https://columbiacoulter.myreviewroom.com/
Step 1: Click here to Sign Up for an account
Step 2: Sign‐In
Online Application: Dashboard
Add Team Logo!*Download Application*
Request a Collaborator*
Add Team Members*
Upload Video*
Upload Supplemental Info*
Complete Online Application
SUBMIT! * optional
Pre-Proposal Outline
Section 1: Non‐Confidential Project Title (20 words)
Section 2: Envisioned Product (100 words)
Section 3: Clinical Problem / Unmet Need (100 Words)
Section 4: Standard of Care (200 words)
Section 5: Value Proposition (100 words)
Section 6: Enabling Technology (200 words)
Section 7: Proof‐of‐Concept Milestones (300 words)
Section 8: Project Team (100 words)
Sections 2‐8 are Confidential. All reviewers sign confidentiality and IP assignment agreements.
Criteria
• Translational Focus
• Coachability of the Team
• Potential for Novel IP
• Viable Business Opportunity
Can this Team/Project attract Follow‐On Funding?
Board / Oversight Committee
Andrew Laine, DScProfessor & Chair, Biomedical EngineeringPI, CCTRP
Dennis Fowler, MD MPHProfessor, SurgeryClinical Co‐PI, CCTRP
Andrew Laine
Josh Tolkoff, MS Accelerator Executive, CIMITManaging Director, Ironwood Capital
Omar Amirana, MDManaging DirectorAllied Minds
Chaitan Divgi, MDProfessor, RadiologyColumbia University
Misti Ushio, PhDManaging Director & Executive VPHarris & Harris
Elias Caro, MScVP, Technology Development Wallace H. Coulter Foundation
Orin Herskowitz, MBAVP, Intellectual Property & Tech TransferColumbia Technology Ventures
William Levine, MDProfessor, Orthopaedic SurgeryColumbia University
Frank DeBernardisFounder & CEONascent Enterprises
Donna See, MBA MPH (ex officio)Director, Columbia Technology VenturesDirector, CCTRP
Application Timeline
Sep 1, 2013Call for
Proposals
Dec 1, 2013
Pre‐Proposal Submission Deadline
Jan 10, 2014
Pre‐Proposal Selection
Apr 1, 2014
Full Proposal SubmissionDeadline
May 2, 2014
Pitch DayPresentation
Mid‐May 2014
Full Proposal Selection
Jul 1, 2014Project Launch
Pre‐Submission Consultation
Full Proposal Bootcamp
Contact Information
www.bme.columbia.edu/[email protected]
THANK YOU FOR COMING!
Fall 2013 Information SessionsWednesday, September 08, 2013 from 12:00 to 1:00p, PH 11‐1156
Tuesday, October 1, 2013 from 12:00 to 1:00p, PH 10‐204Thursday, October 3, 2013 from 4:00 to 5:00p, PH 11‐1156Thursday, October 10, 2013 from 4:00 to 5:00p, P&S 3‐418