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Geneva WIPO

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The development of Intellectual Property as an asset to support investment activity. For World Intellectual Property Organisation.

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Geneva WIPO

  1. 1. A Case study of Biotechnology: - How to use Biotechnology for Economic Development Theme 3: IP Financing in the Field of Patents By Iain C Shirlaw Information Meeting on Intellectual Property Financing Organised by the World Intellectual Property Organisation (WIPO) Geneva, Switzerland, March 10, 2009
  2. 2. Introduction to Scotland <ul><ul><li>Population 5.1m </li></ul></ul><ul><ul><li>North West edge of Europe </li></ul></ul><ul><ul><li>Respect for Education </li></ul></ul><ul><ul><li>14 Universities </li></ul></ul><ul><ul><li>Produces 1% of world’s published research </li></ul></ul><ul><ul><li>Graduation rate of 39.2%, from first degrees * (#1 in OECD) </li></ul></ul><ul><ul><li>620 Life Science companies </li></ul></ul><ul><ul><li>31,000 Life Science jobs </li></ul></ul><ul><ul><li>In 2007, 20 new Life Science companies formed </li></ul></ul><ul><ul><li>£3 billion contribution to the economy </li></ul></ul>
  3. 3. Scotland’s Biotechnology Fame Dolly the Sheep, and her lambs at Roslin
  4. 4. Time line <ul><li>1413 St. Andrew’s University </li></ul><ul><li>1495 Aberdeen Medical school </li></ul><ul><li>1776 Adam Smith, “Wealth of Nations” </li></ul><ul><li>1975 Scottish Development Agency </li></ul><ul><li>1979 Venture Capital - Biogen </li></ul><ul><li>1981 Spin outs Monotech and Bioscot </li></ul><ul><li>1998 Pharmaceutical Proteins IPO </li></ul><ul><li>2004 Cyclacel first European Biotech $100m funding </li></ul><ul><li>2007 Haptogen acquired by Wyeth </li></ul>
  5. 5. Fashions in IP development <ul><li>Universities as source of learning and publishing. </li></ul><ul><ul><li>1980 MRI scanner first demonstrated Aberdeen, but GE / Fonar fought patent for use of MRI in cancer detection </li></ul></ul><ul><li>Tech transfer and academic consultancies </li></ul><ul><ul><li>Prof Stenlake’s Atracurium, £29m </li></ul></ul><ul><li>Science Parks </li></ul><ul><ul><li>1971 Heriot Watt Research Park – first science park in Europe </li></ul></ul><ul><li>Spin outs </li></ul><ul><ul><li>Aurora </li></ul></ul><ul><ul><li>Drug Development Scotland </li></ul></ul><ul><ul><li>Cyclacel </li></ul></ul><ul><li>Specialist IP asset developers and funders assets </li></ul><ul><ul><li>British Technology Group </li></ul></ul><ul><ul><li>IP 2 IP </li></ul></ul><ul><ul><li>Braveheart </li></ul></ul><ul><ul><li>Exomedica </li></ul></ul>
  6. 6. 1980’s Life Science investing <ul><li>Corporate </li></ul><ul><ul><li>Legacy: Glaxo, Roche, Organon </li></ul></ul><ul><ul><li>Coats Paton, Monotech </li></ul></ul><ul><li>Public Sector </li></ul><ul><ul><li>Scottish Development Agency: </li></ul></ul><ul><ul><ul><li>Inveresk, Cruachem, Bioscot </li></ul></ul></ul><ul><li>Venture Capital: </li></ul><ul><ul><li>3is, Apax, Transatlantic </li></ul></ul><ul><li>Angel investors: </li></ul><ul><ul><li>Biocure, Bill Bruce </li></ul></ul>
  7. 7. Financing Sources <ul><li>Scottish Enterprise </li></ul><ul><ul><li>LSBAS, Spin outs </li></ul></ul><ul><li>IPOs </li></ul><ul><ul><li>PPL, Scotia, Scotgen, Biocure, Shield </li></ul></ul><ul><li>VC Funds </li></ul><ul><ul><li>Scottish Equity Partners </li></ul></ul><ul><ul><li>Albany Ventures </li></ul></ul><ul><li>Angel Syndicates </li></ul><ul><ul><li>Archangel </li></ul></ul><ul><ul><li>Braveheart </li></ul></ul>
  8. 8. Government Investment Strategies Scheme Bridging Research SMART Development Enterprise fellowships Entrepreneurship Proof of Concept New company Seed Fund Spin out Co-investment Angel investors Venture Fund
  9. 9. 21 st Century Development Frameworks <ul><li>Public Sector Initiatives </li></ul><ul><ul><li>SMART </li></ul></ul><ul><ul><li>Enterprise fellowship </li></ul></ul><ul><ul><li>Proof of Concept </li></ul></ul><ul><ul><li>Start-up </li></ul></ul><ul><ul><li>Co-Investment Fund </li></ul></ul><ul><ul><li>Venture fund </li></ul></ul><ul><ul><li>Gateway Advisory Services </li></ul></ul><ul><ul><li>Life Science Business Advisory group </li></ul></ul><ul><ul><li>Life Science Alliance </li></ul></ul><ul><ul><li>Bio Industry Association Scotland </li></ul></ul><ul><ul><li>Nexxus Bioscience Network </li></ul></ul><ul><li>Angel Syndicates - Over 30 </li></ul><ul><ul><li>Archangel </li></ul></ul><ul><ul><li>Braveheart </li></ul></ul><ul><ul><li>Highland </li></ul></ul><ul><ul><li>Tricap </li></ul></ul><ul><ul><li>Alybyn </li></ul></ul><ul><ul><li>Discovery </li></ul></ul><ul><li>Clusters </li></ul><ul><ul><li>Edinburgh Science Triangle </li></ul></ul><ul><ul><li>Pentlands Science Park </li></ul></ul><ul><ul><li>Edinburgh Technopole </li></ul></ul><ul><ul><li>Roslin Bio Centre </li></ul></ul><ul><ul><li>Bio Campus </li></ul></ul><ul><ul><li>Heriot Watt Research Park </li></ul></ul><ul><ul><li>West of Scotland Science Park </li></ul></ul><ul><ul><li>Nova Technology Park </li></ul></ul><ul><ul><li>City Science Glasgow </li></ul></ul><ul><ul><li>Lanarkshire Medi-park, Strathclyde Business Park </li></ul></ul><ul><ul><li>Scottish Enterprise Technology Park, East Kilbride </li></ul></ul><ul><ul><li>Dundee MediPark </li></ul></ul><ul><ul><li>Dundee Technology Park </li></ul></ul><ul><ul><li>Scottish Crop Research Science Park </li></ul></ul><ul><ul><li>Dundee Technopole </li></ul></ul><ul><ul><li>Aberdeen Science & Technology Park </li></ul></ul><ul><ul><li>Foresterhill </li></ul></ul><ul><ul><li>Edinburgh Bio Quarter - $1 billion to create one of world’s finest Biomedical centres </li></ul></ul>
  10. 10. The Next Issue - The funding gap
  11. 11. Conclusion <ul><li>Scientific IP </li></ul><ul><li>Invention </li></ul><ul><li>Development </li></ul><ul><li>Market </li></ul><ul><li>Produce </li></ul><ul><li>Create Business </li></ul><ul><li>Attract Investment </li></ul><ul><li>Grow Business </li></ul><ul><li>Internationalise </li></ul><ul><li>Corporatise </li></ul>Progress IP from Upstream to Downstream to capture most economic value Biotechnology can be a very significant contributor to both local economic well being, and worldwide health improvements. One of a nation’s key assets is the ability of its people to invent, develop and commercialise. Scientists who are awarded government grants also have a responsibility to recognise the Value of IP to the economy and health and welfare of its people
  12. 12. Iain Shirlaw <ul><li>Contact details: </li></ul><ul><li>tran ž iger </li></ul><ul><li>international corporate and transaction advisor </li></ul><ul><li>life sciences and healthcare </li></ul><ul><li>[email_address] </li></ul>With Special Thanks and Acknowledgement in the preparation of this presentation to Alan Muir, Bill Harris, Pat Mc Hugh and Michael Cannon

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