Transcript Document

Technology-Based Economic Development:
Transferring UB Inventions to Society
Robert J. Genco
Vice Provost and Director
of the UB Office of Science, Technology Transfer
and Economic Outreach (STOR)
[email protected]
June 21, 2006
UB and Technology-Based Economic Development
I.
UB’s STOR – Progress Report
II. Opportunities and Challenges
III. Future Initiatives
I. UB STOR Progress Report
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UB Research Funding and the COE
Inventions and Disclosures
New Licenses and Options
Start-Up Business
UB Technology Incubator
UB STOR Staff
Intellectual Property
Commercialization
Publications
Jeff Dunbar, Director
Gloria Calato
Tim Dee
Rupal Desai
Michael Fowler
Ed Tirpak
Woody Maggard, Director
Sallie Reed
Lorraine Stinebiser
Administrative Staff
MBA and Law Assistants
Denise Lewis
Kim Rohring
Rose Parkhill
Karin Abu-Middain
Renata Bator
Joe Colangelo
Kristina Hellman
Doug Smith
Shubh Srivastava
UB Tech Transfer Highlights
• Bayh-Dole Act 1980 – allows universities to own
intellectual property developed using federal funds.
Mandates that they protect and make best efforts
to commercialize discoveries, and share portion of
proceeds with inventors. This is what STOR is
charged with for all UB faculty and students.
Since Bayh-Dole, universities have been a
major resource for technology-based
economic development in the U.S.
• 4,100 new companies formed based on
University-licensed inventions since 1980.
• Launched 2,200 new commercial products
between 1998 and 2003.
AUTM Licensing Survey FY 2003 (www.autm.net)
UB Invention Disclosures and Patent
Applications and the AUU Benchmark
UB
Actual
AAU Benchmark*
Number Per $10 Number Per $10
Million Research Million Research
Expenditure
Expenditure
Invention Disclosures
2003
82
3.42
3.32
2004
81
3.13
3.32
2005
92
3.50
3.32
Total Patent Applications
2003
58
2.42
2.69
2004
50
1.92
2.69
2005
69
2.65
2.69
*Benchmark based on median of all AAU universities with an Academic Health Center.
UB New Licenses and Options, and Start-Up Businesses
as Compared to the AAU Benchmark
Measure
New Licenses And Options
UB
Benchmark*
2003
5
17
2004
14
17
2005
16
17
2003
2
1
2004
7
1
2005
8
1
New Start-Ups
*Median of AAU Universities with Academic Health Centers. UB start-ups include those with classical licenses as
well as others where licenses are not included since the technologies are not protected except by copyright or
trade secret (e.g., software).
F ig ur e 1. Invent io n D isclo sur es and T o t al Pat ent A p p licat io ns
100
75
50
25
0
2001
Invent ion Disclosures
2002
2003
2004
2005
Tot al Pat ent Applicat ions (New Provisional and Non-Provisional Applicat ions)
Figure 2. New Licenses and Options
*
22
20
18
16
14
12
10
8
6
4
2
0
2001
2002
2003
2004
New Licenses and Options
2005
2006*
UB Totals From 2002-2006
380
62
24
Disclosures
New licenses
Start-up Business
UB’s Emphasis on Regional Development
• 39% of licenses to start-ups (National average is 20%)
Examples of UB Start-Up Companies in WNY
SmartPill Corporation - Dr. J. Schentag, Inventor; David Barthel,
CEO
• diagnostic device – swallowed, sends pH and pressure signals
throughout GI track
• raised $25 million in private capital
• FDA approval for SmartPill GI Monitoring System
expected in 3 Q 2006
• Starting colonic, ileal-cecal, and diabetes trials
Minrad Inc. – Dr. D.M. Landi and R. Lifeso, Inventors, W. Burns, CEO
• surgical alignment; anesthesia devices added
• raised over $36 million in private capital
• products on market
Kinex Pharmaceuticals - Dr. D. Hangauer, Inventor, Dr. A. Barnett, CEO
• cancer drug development company – novel kinase inhibitors
• raised $2.3 million private capital, leveraged on CAT, WNY BDF, and PDF
funding
Buffalo BioBlower – Drs. J. Garvey and J. Lordi, Inventors and CEOs
• air sterilization system – kills spores of B. anthrax -surrogate
• $3 million grant announced from U.S. Government for prototype
development, leveraged on CAT, WNY BDF and PDF funding.
UB Start-Ups That Have Recently Received SBIR Funding
• Therex – Drs. R. Evans, R. Coburn and R. Genco, Inventors,
Dr. J. Dunn, CEO – surface acting drugs with both antibacterial
and antiinflammatory effects – for use in acne, gastric ulcers and
oral diseases, $4 million from SBIR/STTR funding.
• Virmatics – Dr. J. Bruenn, Inventor, J. Cornell, Manager –
bioinformatics-cloning software company, SBIR, leveraged CAT,
and WNY BDF.
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Dynamic Eye – Dr. C. Mullin, CEO – self-regulating, glarereducing screens, leveraged WNY BDF to obtain $2.0 million
government contract.
UB Technology Being Licensed to WNY Companies
Reichert Inc. – Dr. F. Sachs, Inventor – Microfluidic cell
volume measurement device.
Ethox and a strategic partner – UB’s Catheter
Monitoring System – a relatively non-invasive cardiac
monitoring unit invented by Drs. D. Hickey and C.
Lundgren.
Both also to receive NYSTAR Grants for joint
development with UB.
First Wave Technologies, Inc. – B. Bell, CEO
Development company established March 2005.
Funded by NanoDynamics, Moog, WilsonGreatbatch, ECIDA, and Buffalo Economic
Renaissance Corporation. They will build
management teams and seek development funds
to support research and development and clinical
trials. UB funded consultant, Keith Blakely to
start First Wave.
UB technologies under development by
First Wave:
• The Universal Isolator, a patient ventilator interface.
• Pill-Crusher used to prepare medications for
compromised patients.
• BioHammer – a open source bioinformatics software
company
• Artificial protein drugs and diagnostics involving in
vitro synthesis of ribozyme catalyses.
UB Technologies Recently Licensed to Existing Companies
• Character recognition technology licensed to
XactData, Inc.
• Nanomaterial for photo-voltaic/energy uses licensed
to Solexant.
Eight UB patents involving method of preparation
and use of semiconductor nanomaterials used to
build a novel photovoltaic cell that converts solar
energy into electricity.
• Diagnostic test for obstructive sleep apnea and
Cheyne-Stokes respiration-licensed to Sleep
Solutions, Inc., replaces overnight
polysommography.
• Novel antimicrobial peptide from human mucin
to BioFactra, a biopharmaceutical development
company.
• Four UB drugs for treatment of schizophrenia,
licensed to Chakra Biotech Pte Ltd., developing
CNS drugs.
UB Drug Ropidoxuridine – Invented by Dr. T.
Bardos; Licensed to Hana Biosciences
Hana recently received FDA orphan drug
designation for treatment of malignant glioma
• extends market exclusively 7 years
• tax credits for clinical trials
• Ropidoxuridine is a novel, orally available
thymidine analogue and prodrug for IudR,
which demonstrated a survival advantage in
patients with anaplastic astrocytomas, a type
of glioma brain tumor.
• Ropidoxuridine also in clinical trials for
colorectal, gastric and pancreatic cancers.
UB Baird Research Park
UB Incubator Companies (Resident)
Academic Management Systems
Aerostar Group (A.E. Group)
Aquasol
As It Is
Bubble Flow, Inc.
GSE Learning
Integral Information Systems
Laser Photonics Technology (ACIS,
Hybrid Technologies)
Lynx Technologies
Newton LED, Inc.
ONY, INC.
Oncology Research Therapeutics, Inc.
Technicor, Inc. (Glassline, Mika Trading,
Techniglass)
Teeter Marketing Services
The Randforce Associates
The Center for Industrial Effectiveness (TCIE)
Virmatics
Wallace Wireless
Zenhire
Affiliate Companies of UB Incubator
Absolute Energy
Andrew and Andrew Consulting
BioBlower
BioHammer
Capital Formation Institute
Chakra Biotech
GeneOb
Vertasource
UB Incubator – more than Real Estate! Services to
Incubator Companies
1. Funding
a. WNY Business Development Fund – a seed venture
fund. R. Genco on Board
b. ECIDA – Life Sciences Fund – W. Maggard on Board
c. UNYTECH – a venture fair for 10 upstate NY
universities – R. Genco, W. Maggard, J. Dunbar on
Board
d. WNY Venture Association – W. Maggard on Board
e. Angel/Venture Capital Networks – W. Maggard on
Board of Capital Formation Institute
f. NYSTAR – TTIP – J. Dunbar assists companies and
faculty in preparation of grants (4/4 funded in last 2
yrs.)
g. SBIR/STTR – staff assist faculty and CEOs’
preparation.
h. Product Development Fund – UB pre-seed R&D fund –
administered by STOR.
2. Managerial Match Program UB’s “Execumatch”
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Prequalifies candidate executives (eg. Predictive Test)
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Management match for UB companies
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4 placed recently
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8 UB companies presently searching for CEO or other
management level personnel
3. Mentoring and Coaching
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Joint course in Executive Management for technology
start-ups with UB’s Management and Law School
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Management School CEL Program
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Coaching for venture capital presentations
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Strategic planning for start-ups
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Marketing research, eg. use Knowledge Express and
large databases STOR has access to.
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Referral to qualified legal, accounting, and other
service providers
UB Incubator Graduates This Year
Technicor, Inc. (July)
Aquasol (July)
AMBP Tech Corp. (Feb)
Future Plans
1. UB Baird Research Park Master Plan –
completed by Kideney Architects
2. UB South Campus Feasibility Study
3. Buffalo Niagara Medical Campus
Feasibility Studies.
Plans for the UB Baird Research Park
UB South Campus
After feasibility study, UB to use limited space
on South Campus for academic purposes.
Possibly incubator space in one of existing
South Campus research buildings.
Buffalo Niagara Medical Campus
1. Feasibility Study – Evaluated several existing buildings and
sites.
Findings:
a. Previous HWI building too costly to renovate.
b. Other sites require new construction –too costly as
initial investment.
c. An existing building – in the process of being purchased
– new owner wants to lease space to start-ups, UB
STOR staff to provide services to start-ups.
III. Future
A. Increased research base at UB, RPCI, HWI, and other
academic institutions
Being Developed –
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Roswell Park Cancer Institute recruiting ~ 100 scientists
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UB plans to recruit 250 faculty in next few years
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Hauptman-Woodward Institute plans expansion of scientific
staff
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Regional colleges and high schools emphasizing science
Lack of Early Stage Capital
A national problem, especially severe
in upper New York State.
Research Commercialization
Scientific Discovery
IPO
Probability of Success
Lab Model
B Round
SBIR Funding
Valley of Death
Technology
Development
Phase
A Round
First Customers
Prototype
Seed Capital
Create Business
Mgt Team
Market
Assessment
Business
Models
Manufacturing
Model
Low
Commercialization Progression
Business
Building
Phase
Proposed “Innovation Center”
for Buffalo-Niagara Region
Goal
• Focal point for technology-based economic
development
Participation
• UB/COE and affiliated institutions, local colleges
• Corporate, foundation and governmental
participation
Funding
• Governmental support (eg. new New York
State Foundation for Science, Technology
and Innovation)
• Economic Development Agencies
• Foundations
• Industry
• Academic Institutions
Programs of “Innovation Center” That Are Critical For
Our Future Technology-based Economic-Development
• Faculty/Inventors – Government, industrial, foundation
support.
• Pre-seed Capital – “product development fund;” after
patent application prior to licensing.
• Seed-Venture Capital – early stage funding for start-up
company after licensing.
• Management Recruiting/Training
• Incubator/Research Park - with services and mentoring
provided for start-ups.
Mark Twain Said -“When the world comes to an end, I want to be
in Buffalo, because everything happens there
20 years later.”
UB says – Technology-based economic
development is happening in Buffalo now
– we are not waiting for 20 years. As you
noted Mr. Twain, we are “going out on a
limb, that is where the fruit is.”
Thank you!