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Technology Transfer & Innovation Management,
University of Oxford : Linda Naylor, Managing Director, Isis Innovation June 15
isis-innovation.com
Isis Innovation Ltd
Oxford Technology Transfer IP, Patents, Licences, Spin-outs, Material Sales, Outcome Questionnaires, Seed Funds, Isis Angels Network, Isis Software Incubator, Oxford University Hospitals NHS Trust
Oxford Expertise Consulting, Services
A profitable company 100% owned by the University of Oxford
Isis Consulting Business Technology Transfer and Innovation Management
@isisinnovation
isis-innovation.com
Economic Impact “Commercialisation activity undertaken by Isis Innovation contributed more than £0.4 billion GVA1 to the global economy in 2012/13 and supported almost 5,000 jobs. This includes:
• £264m GVA and almost 3,400 jobs in the UK (of which £129m GVA and around 1,630 jobs were estimated to be in Oxfordshire);
• £9.9m GVA and 150 jobs elsewhere in Europe;
• £109m GVA and around 1,200 jobs in the USA; and
• £25.7m GVA and almost 240 jobs in the rest of the world.”
See summary flyer and full report at - www.isis-innovation.com/about/index.html
1 : Gross Value Added
Source: Evaluation by BiGGAR, an independent economics consultancy, for Isis in February 2014
isis-innovation.com
Oxford University
• Oxford University is the
oldest university in the English-speaking world
(founded c.1188)
• A leader in learning, teaching and research
• 26 British Prime Ministers educated at Oxford
• Including current Prime Minister David Cameron
• Royal Society founded from Oxford in 1640
• 51 Nobel prize winners
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Oxford Research Funding 2013-14 : £612million
• Highest University Research Spend in UK
• 5,809 academics and researchers, and 10,173 postgraduate students
• Submitted the largest volume of world-leading (4*) research and impact in the UK – REF 2014
• Charts show £478m grants and contracts by source, and University Division
Total £478m + HEFCE £134m
TT
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University of Oxford: Research themes examples
Medical Sciences Maths, Physical,
Life Sciences Social Sciences Humanities
Cancer Energy International Growth Digital Humanities
Cardiovascular Disease Healthcare Government and
Leadership Environmental Humanities
Diabetes, Endocrinology, Metabolism
Advanced Materials Big Data & Social Media Medical Humanities
Infection and Immunology Resource Efficiency Corporate Governance Medicine and Conflict
Genomics Recovery & ICT Women in Business Global History
Musculo-skeletal Science Cyber Security Training Educators Cultural Heritage
Neuroscience Big Data Social Policy Culture Transfer & Translation
Reproduction & Development Robotics Social Intervention Practical Ethics
isis-innovation.com
Technology Transfer & Doing Business
University entrepreneurial
culture
Industry, Business &
Professional environment
University technology transfer resource
isis-innovation.com
Isis Innovation, year-ending March 2015
NB Unaudited figures
isis-innovation.com
Isis Innovation, year-ending March 2015
isis-innovation.com
Investment, Donations and Funds TT
Oxford University Challenge Seed Fund (UCSF) •Launched 1999 with £4m (£1m OU)
•Over £7.5m invested in 143 projects
•The only UCSF still running in its original form
Oxford Invention Fund (OIF) •Donate to support development of new technologies from Oxford
•Part of Oxford Thinking, the University’s fund raising Campaign
•£1.5m raised to date
University of Oxford Isis Fund (UOIF) •EIS/SEIS funds for investors managed by Parkwalk Advisors
• Isis Innovation is Portfolio Advisor
•1st fund £1.25m fully committed, 2nd closed
Isis Angels Network (IAN) •For Business Angels and early-stage VCs
•216 registered members
•No membership fee
•Twice-yearly meetings, newsletters
isis-innovation.com
£300m Spin-Out Investment Fund
• Oxford Sciences Innovation formed to invest in spin-outs from Oxford (MPLS & Medical Sciences Divisions), Harwell & Culham laboratories
• Investing in new and existing spin-out companies, working inclusively with other investors
• Founder investors : Invesco, IP Group, Lansdowne Partners, Oxford University Endowment Fund, the Wellcome Trust and Woodford Investment Management.
isis-innovation.com
Spin Outs
Total external investment to date in 84 spin-outs since 2000: £535m
£67m 1st round Seed/Business Angels – £468m follow-on Investment Capital
Spin-Out Portfolio by sector January 2015
Diagnostics
Medtech
Pharma tools & services
Drug Discovery
Other healthcare
Industrial applications
Environment & cleantech
Other (incl. software)
isis-innovation.com
Technology Transfer - some general thoughts
Clear IP policy : University claims ownership of all employees’ and students’
IP rights resulting from University research activities
The University helps researchers who wish to commercialise their research
Researchers should share some of the benefits
Royalty shares from licences
Equity in spinout companies
Income from personal consultancy
isis-innovation.com
Technology Transfer – Food Sector - some thoughts
Some general thoughts :
• Can take a long time to develop
• Applications not always obvious
• Margins not always available –
e.g. looking at more sensitive methods of
detection of say pathogens in food
• Can be health driven
• E.g. looking at gut genomics and GM tools
to direct results then tailoring foods, but
regulations similar to pharma
• Done through third party funding as companies do
not want to fund – little premium and just drives
market share
• Food Crops are not always welcome.
isis-innovation.com
Technology Transfer- Spin out
• ΔG™ is the first example of an entirely new food group that offers significant commercial opportunities in a wide range of complementary market areas.
• This nutraceutical has already shown promise in improving physical and cognitive performance in a wide range of environments, from sports track to battlefield.
• ΔG™ is a ketone ester that’s broken down in the gut by digestive enzymes (esterases) to create the ketone body, beta-hydroxybutyrate, which is readily absorbed by the gut wall for transportation to the brain and other organs.
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History
• Technology from the Department of Physiology Anatomy and
Genetics (DPAG)
• Initially funded by Defence Advanced Projects Research
Agency (DARPA) in the US for military personnel to be
enhance physical performance
• Had to form a separate vehicle to administer the money but
this was back in 2006
• Some background IP was owned by the NIH in the US and
took 3 years to agree a commercialisation agreement that had
to incorporate many of the conditions imposed upon such
grants
• Patents are around composition but mainly process
• Deals with third parties have been difficult to negotiate
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Chilli Pepper sensor
The “heat” or piquancy of the chilli is due to capsaicin and
other capsaicinoids.
To measure the concentration of capsaicin the food industry
uses:
Organoleptic “Scoville” test
dates back to 1912
Five tasters are given increasingly diluted
samples until they can no longer taste the heat
High Performance Liquid Chromatography (HPLC)
requires expensive equipment
requires expert use and maintenance
isis-innovation.com
Chilli sensor
Oxford University scientists in the Department of
Chemistry have developed a sensitive electroanalytical
method for the determination of capsaicin.
Developed low cost electronics that essentially replaces
a potentiostat and this ramps the voltage, and reads the
current as a moving average.
Current is proportional to concentration of capsaicin.
The test is rapid & highly sensitive, portable and simple
to use
Can also be used for garlic
Licences have been executed with companies worldwide
to trial this new method.
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Oxford Biotrans - Spin Out
Production of high value chemicals using patented enzyme
technology –
• First product is natural grade nookatone – flavour and
scent of grapefruit
An extensive library of novel, custom-designed
cytochrome P450 enzymes that have high
selectivity for specific substrates and yield
products with high efficiency.
isis-innovation.com
Medical Food
There is considerable evidence
supporting an important role for
homocysteine in causing vascular
occlusion and blood flow disruption
in the brain, and for folate in
regulating levels of homocysteine.
Research indicates that this has
significant potential to inhibit the
development and progression of
Alzheimer’s disease.
Folate is the principal constituent of a
composition to reduce homocysteine levels
and therefore prevent development of
microvascular ischaemia
This technology is currently licensed in the
USA to Pan American Laboratories Inc
now part of Nestle Health Science which
markets it under the brand name Cerefolin,
and for which it is a key medical food
product indicated for dementia and
Alzheimer’s disease.
isis-innovation.com
The Innovation System
Recruitment, head-hunters
Angel Networks
Students
Angel Investors
Investment Funds
Accountants
Bankers
Lawyers
Technology Transfer organisations
University Researchers
Commercial property managers
Journalists
Consultants
Public Relations
Local Government
Hospitals
Government Labs
Research Institutes
Members of Parliament
Incubators
Business networks
Science Parks Other
universities
Industry
Technology companies
Business
Start-ups
‘City deal’
Local Enterprise
Partnership
@isisinnovation
isis-innovation.com
Conclusions – How Isis Works
• Universities • Technology Transfer is a good thing
• Part of University purpose; may make money for University and researchers
• It does not happen on its own • You need to invest resources in People, Patent budget, Proof-of-Concept
• You need a policy framework • Who owns the inventions; who shares the rewards
• It takes a long time … So start and do not stop.
• Business • Access to technologies, resources and expertise • Help understand universities • Help your business innovate
• Investors • Source of investment opportunities • Home for entrepreneurs
• Government • Stimulates innovation and enterprise • Improves society
isis-innovation.com
www.isis-innovation.com
Isis Innovation Ltd, Ewert House, Ewert Place, Summertown, Oxford OX2 7SG
T 01865 280830 F 01865 280831 E [email protected]
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