Accelerating Innovations from Ideas to Commercialization October 22 2012 Key Takeaway Messages Innovate Calgary is much more than UTI was h as significant business and investment expertise amp if we dont have it we can access it ID: 318588
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Slide1
From Lab to MarketAccelerating Innovations from Ideas to Commercialization
October 22, 2012Slide2
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
w
ants to help you commercialize your ideasSlide3
Agenda
Peter
Garrett,
Interim President
An Introduction to Innovate Calgary
Jessie Kubes,
Licensing
From Ideas to IP
David Edmonds,
Executive-in-Residence
From IP to CompanySlide4
Our Vision & Mission
Vision
To be the organization of choice for commercialization and knowledge transfer.
Mission
To accelerate, facilitate and support innovation in the technology sector.Slide5
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 r
anked 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 Slide6
Innovate Calgary’s Ecosystem Role
Innovate
Calgary
Researchers/
Inventors
Entrepreneurs/
SME’s
Investors
Connecting the players
Quantity of interactions
Quality of interactionsSlide7
Innovate Calgary’s Ecosystem Role
Innovate
Calgary
Researchers/
Inventors
Entrepreneurs/
SME’s
Investors
Providing services to the players
Services
Services
ServicesSlide8
Innovate Calgary Services
Company Creation
Experienced Executives-in-Residence
Dedicated business development personnel
A
ccess to a variety of services including: legal, communications, business planning and financial modeling
C
orporate 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 companiesTo date, more than $15 million in financing has been facilitated through Alberta Deal Generator, in addition to more than $30 million in follow-on investmentsJoint initiative with TEC EdmontonSlide9
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
NetworkingSlide10
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.Slide11
Licensing
Jessie Kubes,
Licensing
From Ideas to IPSlide12
Innovate Calgary Commercialization Process
Invention Disclosure
Research Services
Revenue Share Arrangement
Innovate Calgary
Go – No Go
Report to inventors
Assignment AgreementSlide13
13
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 ProcessSlide14
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?
14Slide15
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?
15Slide16
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 AgreementSlide17
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 TecTerraSlide18
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 GrantsSlide19
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 researchSlide20
Success Story - Licensing
Piers Catalysts
New Generation Olefin Metathesis Catalysts
Catalysts for the manipulation of C-C bonds
Can be used in pharmaceutical manufacturing
Dr. Warren Piers and Dr. Patricio Romero
US Patent issued in April
2008
:
7,365,140
Licensed to
Materia
(www.materia-in.com, Pasadena, CA)Sold via Aldrich (catalogue numbers 707988 & 707961)Slide21Slide22
Cell Lines for Drug Development
Dr. Wayne Chen
Cell lines to help identify new drug candidates to treat cardiac conditions
Non-exclusive license agreements with Allergan and Bayer-Schering
Research tools can be commercialized!
Success Stories - LicensingSlide23
Circle Cardiovascular Imaging
Calgary-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 CreationSlide24
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.comSlide25
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.comSlide26
Our Licensing Team
David Reese, MSc, MBA
Jessie Kubes, PhD
Robert Carruthers, MEng
Raja Singh, MD, PhD
Chris Nicholls, PhD
Jim Wilson, PhD
Rishi Batra, MEng
Quang Tran, PhD
Andrei Edwards, MBA, JD
Angelo Nwigwe, BSc, MBTSlide27
Company Creation
David Edmonds,
Executive-in-Residence
From IP to CompanySlide28
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. 28Slide29
Our Niche:
Funding and Services Gap in the Alberta Tech Sector
29
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 ConceptSlide30
Technology Focus Includes
30Slide31
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
31Slide32
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 NetworksSlide33
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 33Slide34
Our Portfolio
10 private companies
, mostly based in Calgary
Equity and/or debt participation
34Slide35
Building Winners
35
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.Slide36
From the
T
renches...Pure Startups
36
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 filedBoard of Directors and Industry Advisory BoardStage 3: Off to the RacesNew patents filedFrom bench to field trailsSlide37
From the Trenches... The “Orphans”
37
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 grantsStrengthening IP: Mapping out overall IP StrategyNext Phase…: Currently working with Apple on product integration/distributionSlide38
Sample of Technologies in our Pipeline…
38
Micro-Nano Electronic technologies in the solar energy space
Novel materials and processes for EV battery systems
Novel materials for oil well diagnosticsSlide39
Why Innovate Calgary to Create a Company?
39
Money
Management
MomentumSlide40
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 researchSlide41
Questions & Discussion
41
How can
U of C inventors
and
Innovate Calgary
partner together to build winning Alberta companies? Slide42
Connect with Us
Innovatecalgary.com
403.284.6400