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Innovation Across Borders - Session 5 jennifer thompson

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Innovation Across Borders - Session 5 jennifer thompson

  1. 1. Revolutionary Dehydration Technology<br />Global research collaborator with NestléSA,<br />Danisco AS, Grupo Bimbo SA & Grimmway Farms<br />
  2. 2. Company<br />Radiant Energy Vacuum (“REV”) Dehydration Technology<br />Vancouver-based industrial technology company, UBC spin-off<br />New proprietary method of drying food, bulk liquids, biological and pharmaceutical material <br />Large, diverse global markets use drying to extend shelf-life, reduce shipping & storage costs, create novel products<br />Mission is to introduce a new global dehydration platform to compete with freeze drying, air drying & spray drying<br />
  3. 3. REV Technology Platforms<br />Positioned to Compete in Broad Market Segments<br />
  4. 4. Commercial Progression<br />Technology Development Targets as of January 2011<br />Commercial machine with dried capacity of up to 100 Kilo per hour sold to CAL-SAN, testing initiated with Nestlé & Bimbo in 2010<br />Expected time required to complete pilot machine testing, Danisco licence agreement and secure first commercial machine order for delivery in first half of 2012<br />FDA GMP regulatory approvals required for therapeutic pharmaceutical applications<br />
  5. 5. Commercialization Strategy<br />Two tier approach for broader market acceptance<br />Strategic Plan: start with collaborations, build a royalty stream from technology licenses,outsource manufacturing of REV machines<br />Tier One:<br />Strategic collaborations with leading multinationals, exclusive agreements for specific global market segments, targeted annual royalties $25-$50M per division<br />NestléSA, DaniscoAS, Grupo Bimbo SA & Grimmway Farms<br />Tier Two:<br />Entrepreneurial or regional partnerships with limited territory or product exclusivity, targeted annual royalties of $1-$5M per partner<br />CAL-SAN Enterprises, IFS/Smartpac<br />
  6. 6. Intellectual Property Strategy<br />Supporting the Strategic Plan<br />ENW owns 7 patents/pending plus exclusive world-wide rights to 7 patents filed by UBC (Dr. Tim Durance): 2016 - 2024<br />IP protection strategy: patent in big markets where machines are likely to be installed, or product sales may occur - India, China, Brazil, EU and North America, possibly other countries depending on the application<br />PCT route gives 2 ½ years to decide where to file. Start with US provisional while invention is refined, then file PCT within 12 months.  ~ 4 months later, the PCT patent examiner conducts search and gives written opinion. National patent filings in selected countries 30 months after the provisional application.  Takes a further 1-5 years to obtain patents.<br />
  7. 7. Collaborations<br />Give & Take with Tier 1 & Tier 2 Partners<br />Global collaborations help move us along the Technology Adoption Life Cycle* (innovators, early adopters, early majority, late majority, laggards):<br />Detailed knowledge of industry needs, “pain” and costs<br />Product & market expertise<br />Credibility with investment community to raise funds on public markets<br />Credibility with target markets where brand names sign on publicly<br />
  8. 8. Collaborations<br />Give & Take with Tier 1 & Tier 2 Partners<br />Strong base of intellectual property <br /> Exclusivity of testing for specific products/regions/timeframe<br /> Public collaboration announcements<br /> Investor confidence & increasing levels of financing<br /> Cash for in-house technology development <br /> Ownership of all IP <br /> Grant exclusive licenses for royalties<br />
  9. 9. Open Innovation<br />Lessons learned – the bad news first<br />Important to establish clear property rights before or at first meeting <br />Everything takes longer than you think, esp. with large companies<br />Smaller companies may not have the horsepower or experience needed to bring products to market<br />Confidential agreement terms difficult for investors (but good for us)<br />
  10. 10. Open Innovation<br />Lessons learned – now, the good news<br />Collaboration benefits:<br />Farm out work to external facilities/experts to reduce costs<br />Third party technology endorsement<br />Increase speed to market with internal champions at multinationals<br />Assistance with regulatory approval process<br />Help design best machine to meet industry needs (batch vs continuous, size, processing speed, necessary savings to justify investment)<br />So far, no regrets. Each collaboration has served a valuable purpose and we learn from every one.<br />
  11. 11. Open Innovation<br />Selected examples<br />Aridis Pharmaceuticals – Early credibility with investors, learned about sector, provided prototype design input, too small for larger collaboration<br />DaniscoAS – First global collaboration, great partner, good credibility<br />Bioseutica PLC – Good signal to huge market in encapsulation<br />Nestlé SA – Best possible reference in food industry<br />SRC – Detailed feedback on design, help us keep costs low<br />
  12. 12. Contact Details<br />Jennifer Thompson<br />V.P. Corporate Development & Investor Relations<br />P: (604) 603-6549<br />E:<br /> | TSX-V: ENW | FSE: E4U<br />