From Research to Commercialization Benjamin Soffer, Manager Technology Transfer Office Technion Research & Development Foundation Ltd. November 2008
AUTM U.S Licensing Survey (2004) Highlights
Technology Transfer Office Staffing Levels at U.S Universities
Distribution of Size of Research Programs at U.S Universities
Technology Readiness Levels Level 1 Level 2 Level 3 Level 4 Level 5 Level 6 Level 7 Basic Principals observed and reported Technology concept and / or application formulated Analytical and experimental critical function and / or characteristic proof of concept Component validation in laboratory environment Component validation in relevant environment System / Subsystem model or prototype demonstration in a relevant environment System prototype demonstration in an operational environment
Total License Income Received by U.S Universities
Medicine Mechanical Engineering Computer Science Electrical Engineering Chemistry Biomedical Engineering Physics Biology Biotechnology and Food Engineering Chemical Engineering Materials Engineering Civil and Environmental Engineering Aerospace Engineering Other Technion Patent Portfolio (31.12.2007) 18 % 289 Patents files to be commercialized 16 14 12 10 8 6 4 2 0
T³ - Technion Technology Transfer t3.technion. ac.il
T³ s main missions Foster commercial investment in development of inventions and discoveries Generate goodwill: faculty, sponsors, licensees Financial benefit to the general public, the Technion and the inventors Increase further the level of openness of the Technion and of Technion's researchers to commercialization Build a community of entrepreneurs, business people, industrialists and investors
RESEARCH Technology Transfer Process Research Innovation Discovery Evaluation Development Patenting marketing Development Licensing or Start Up Contract Management & Enforcement REVENUES Research Enterprise
From the laboratory to the market-place. Research projects and Centers Technology Transfer Office Third Parties Pending no value Technology sell license/lump sum Spin off-equity/license Research Program Ideas for IP Patents or Tacit Know how Research grants TIME
T³ - Technion Technology Transfer IP Patent Disclosure Patent Registration Patent Maintenance Licensing Spin off Companies Subsidiary Companies Dimotech Ltd. Subsidiary Companies Technion Seed Subsidiary Companies
Models of Academic Approaches to Commercialization Hands-in-Pockets Hands-Off Hands-On Up-to-Elbows Licensing Practices Technion chose up-to-elbows Form the Licensee Operational Role Source: MIT, AUTM, MRUN, U Michigan et al
Flexible Practices Flexible Practices Pro Active approach Internal/External Development Assistance Help Recruit Talent Our commercialization strategies, tailored to the requirements of each venture, enhance the market value and performance of Technion discoveries and increase their success in the global marketplace Operations Participation Direct Investment
Flexible Terms Flexible Practices TRDF Affiliated Companies - EXAMPLES Pro Active approach Internal/External Development Assistance Help Recruit Talent Operations Participation Direct Investment
Company establishment -2007 InnoWatTech Ltd. InnoWatTech Ltd. Is developing a highly efficient piezoelectric based energy harvesting platform. Slender Medical Ltd. Slender Medical is developing an innovative non-invasive removal of fat cells device using high intensity focused ultrasound (HIFU). Guide-X Ltd. Guide-X is developing an innovative apparatus for accurate needles insertion for diagnosing cancerous diseases. The company's first application will focus on inserting a biopsy needle for diagnosing lung cancer.
Company establishment -2007 PneoMedicare Ltd. PneoMedicare is developing a novel device for continuous monitoring of lung ventilation in mechanically ventilated patients. Renewed Water Minerals Ltd. Renewed Water Minerals is developing a cost effective posttreatment process providing chemical and biological stability as well as supplying both Ca2+ and Mg2+ to the desalinated water
Flexible Terms Flexible Practices Success Stories - Examples Pro Active approach Internal/External Development Assistance Help Recruit Talent Collateral Therapeutics Operations Participation Sanborn Research LLC Direct Investment
Case Study Flexible Practices Pro Active approach Internal/External Development Assistance Help Recruit Talent Operations Participation Direct Investment Azilect/ Agilect (Rasagiline) An anti-parkinson's disease drug Developed by Teva Pharmaceuticals in cooperation with Prof. Moussa Youdim and Prof. John Feinberg Parkinson disease is a progressive condition that involves a gradual loss of nerve cell function in the brain. The nerve cells that are specifically affected are those that control body movement. ~ 4 million people worldwide suffer from Parkinson's disease Affecting approximately 1% of the population over the age of 65 Agilect /Azilect - Azilect was launched in Israel in March 2005 4% royalties of net sales
Pro Active approach Internal/External Flexible Practices Pro Active approach Internal/External Development Assistance Help Recruit Talent Operations Participation Direct Investment
Invention Disclosures Received by U.S Universities
New Inventions (2007) 92 new invention disclosures: 85 filed 4 in examination 2 released 1 abandoned Mechanical Engineering Chemical Engineering Electrical Engineering Computer Science Chemistry Medicine Biomedical Engineering Biology Civil and Environmental Eng Biotechnology And Food Eng Physics Aerospace Engineering Materials Engineering Industrial Engineering TOTAL N 14 10 10 10 9 9 7 5 4 4 4 3 2 1 92
Pro Active approach Internal/External Flexible Practices Pro Active approach Internal/External Development Assistance The Technion Entrepreneurial Centre and the Technology Transfer Office Help Recruit Talent Operations Participation Direct Investment
Pro Active approach Internal/External Flexible Practices BioMed 08 Pro Active approach Internal/External Development Assistance Help Recruit Talent Operations Participation Direct Investment
Technion Webinar Innovation Series Pro Active approach Internal/External Flexible Practices Pro Active approach Internal/External Development Assistance Help Recruit Talent Operations Participation Direct Investment December, 2005 PROFESSOR KARL SKORECKI Bruce Rappaport Faculty Of Medicine February, 2006 PROFESSOR ASSAF SCHUSTER Faculty of Computer Sciences April, 2006 PROFESSOR DOV DORI William Davidson Faculty of Industrial Engineering and Management. July, 2006 MR. YEHIEL TAL Co-Founder & CEO Regentis Biomaterials Ltd. DR. DROR SELIKTAR Co-Founder Department of Biomedical Engineering November, 2006 PROFESSOR RON KIMMEL Faculty of Computer Sciences April, 2007 MR. ARIK ARAD; CEO, EORD MR. AVNER ESHED General Manager, EORD (E.E-B.Sc, MBA)
Development Assistance Flexible Practices Pro Active approach Internal/External Developing with MBA Students Technology Transfer Strategies for Inventions based on Faculty members disclosures Development Assistance Help Recruit Talent Operations Participation Direct Investment www.technionseed.co.il A Technion-based institute aimed at supporting development and commercialization of biomedical innovations from the Technion.
Help Recruit Talent Flexible Practices Pro Active approach Internal/External Market Looking for Technology Dynamic but Uniform Process Founders Instead of Finders Development Assistance Help Recruit Talent Global & Local Market EIR Program Community Building Operations Participation Direct Investment Licensing and New Company Formation Multi Disciplinary IP Generation
Operations Participation Flexible Practices Pro Active approach Internal/External Development Assistance Help Recruit Talent Participation in the board of directors of affiliated companies Negotiation and approval of the IP and business aspects of agreements with industry Operations Participation Direct Investment
Direct Investment Flexible Practices Pro Active approach Internal/External Development Assistance Help Recruit Talent Operations Participation TTT - Fund Investments in Technion Affiliated Companies A disbursement of an amount up to 50,000 USD for a specific project of TRDF and/or DIMOTECH and/or TEIC. Direct Investment
Direct Investment Flexible Practices Pro Active approach Internal/External Mitchell Entrepreneurial Program at the Technion 3-4 projects per year, ~ $ 40,000 each Technion affiliated companies Technologies 1.3 Million dollars ( revolving fund ) Development Assistance Horowitz Fund ~ 7 projects per year ~ $ 140,000 each Technologies 3 Million dollars (3 years) Help Recruit Talent STAR Fund 1-2 projects per year, ~ $ 35,000 each Technologies Operations Participation Direct Investment The Phyllis and Joseph Gurwin Fund for Scientific Advancement at the Technion Technologies 2 Million dollars (5 years)
Conclusions Myths Royalties are a significant source of revenue for the University Expect a quick return of technology transfer investment Companies are eager to accept new technology from universities You should broadcast availability of technology for licensing The technology transfer office finds the licensee
THANK YOU t3.technion. ac.il
A private seed/pre-seed investor Investing in technology-based start-ups (diverse fields) Owned by: The Technion Israel s leading technology academic institute Battery Ventures Vertex SCPVitalife ProSeed Licensed as an incubator by the government of Israel
Active since 2003 Located in Haifa at MATAM hi-tech park 7 employees 13 investments (Apr. 2003 - Feb. 2008)
We grow such ventures: For 12-24 months Until they prove their viability (technology, business, management) And are ready for a large follow-on financing round (by the VC funds) We seek ideas for high-risk/high-reward high-tech ventures, that are: Based on innovative, breakthrough technologies Appeal to very large international markets We invest in such ventures: Up to ~$1,000,000 Investment sources: Direct by the VC funds that own the incubator Money loaned by the government to the incubator
Portfolio 2003-2007 investments Name GeneGrafts Regentis Approtect CorrelSense Argo Medic Vision DataEssence Vayar Vision Xurity Year 2003 2004 2004 2005 2005 2006 2007 2007 2007 Description Cell therapy for Parkinson s Regeneration of cartilage Software protection solutions Transaction prioritization in IT systems Enabling paralyzed persons to walk Brain CT analysis Internet semantic technologies Visual Search Engine Homeland security
Portfolio 2007-2008 investments Name Founders Investment Field Xurity Zeev Harel $800k HLS (7/2007) Ohad Ben-Dror Data Essence Amnon Mishor $800k Internet (9/2007) Yaron Karasik Vayar (12/2007) Ohad Gilboa Effi Eprath $700k ($100k- others) Computerized Vision DigiFlex Uri Adler $900k Print (1/2008) Moshe Frenkel ($100k- others)