How to Make Your University the Technology Source of Choice for Innovation -- Structuring Deals Creatively

October 2, 2009 Laura Schoppe Fuentek, LLC Karen LeVert Southeast TechInventures Kathleen Needham NASA’s Glenn Research Center John McEntire Pacific Northwest National Laboratory How to Make Your University the Technology Source of Choice for Innovation

Structuring Deals Creatively John McEntire Manager, Information Technology Commercialization Pacific Northwest National Laboratory U.S. Department of Energy http://www.pnl.gov/business/tech_transfer.asp

A Versatile Technology
Method for microscale precision particle fabrication (PPF)
Many potential applications
Medical
A platform for drug delivery
Industrial
Photography
Photocopying and printing
High-precision optics
Much more
Case Study 1: University of Illinois at Urbana–Champaign

Commercialization Options
Inventors interested in forming a start-up
Had looked into funding, but had not yet developed business plan
Commercial licensing interest
Several companies interested in drug-delivery applications
Commercial viability of industrial applications uncertain

Solution: A Two-Path Strategy Case Study 1: University of Illinois at Urbana–Champaign

The Outcomes: Drug-Delivery Path
Delays in pursuing licensing interest
Significant market shift
Pharma began focusing less on platforms and more on drugs
Interest dwindled among established companies

The Outcomes: PPF Technique Path
Some commercial interest, but level of development problematic
Current production: Grams/minute
Industry need: Pounds/minute
Low-margin industries not willing to take development risk
Inventors unable to devote lab resources to development
Lead inventors never formed start-up company, but…

Success: License to a Start-Up
Orbis Biosciences (Kansas City, KS)
Founded by co-inventor
Offers development consulting services for PPF
Emphasizes technology’s applicability to various industries
Pharmaceuticals
Food and nutraceuticals
Agriculture
Personal care

Lessons Learned
The slice-and-dice approach is feasible and has advantages
If the market is ready, jump!
Waiting risks losing window of opportunity
Be willing to change directions
Feedback from companies considering tech carefully revealed that some assumptions about tech’s value were mistaken

How to Make Your University the Technology Source of Choice for Innovation -- Structuring Deals Creatively

by Fuentek, LLC on Jan 29, 2010

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