LOWER SHORE TECHNOLOGY TRANSFER SYMPOSIUM

1. Bringing the Benefits of Discovery to the World LOWER SHORE TECHNOLOGY TRANSFER SYMPOSIUM MAY 23, 2012 Wesley D. Blakeslee Executive Director Johns Hopkins Technology Transfer 410-516-8300 wdb@jhu.edu

2. JHTT Mission Statement • The Johns Hopkins Technology Transfer office furthers the mission of The Johns Hopkins University to bring the benefits of discovery to the world, by implementing the commercialization of University innovations for the public good by: • Encouraging and supporting invention disclosure; • Encouraging and supporting entrepreneurs; • Effecting technology development and licensing; • Increasing available research funding; and • Protecting and managing the University's intellectual property

3. Large Experienced Office • 50+ employees, including: • Experienced Senior Management • 12 Experienced Licensing Professionals • 5 IP Managers • 3 Patent Attorneys • 4 Agreements Specialists • 2 Marketing And Corporate Relations Managers • 1 Dedicated New Ventures Manager • Experienced Support Staff

4. Faculty Service - Our #1 Goal

5. Finding Technology • Publications • Conferences • Inventor • JHTT • JHTT Events • JHTT Outreach • JHTT Website

6. JHTT • Contact the office • Contact info on website • Hotline: • JHTT-Communications@jhu.edu • Sign up for alerts

7. JHTT Events • Programming • Alliance for Science and Technology • Annual Bioinvestor Conference • Special events – “Vine and Venture” • Match Making Service • Represent smaller spin-offs at large networking/partnering events

8. JHTT Outreach • Licensing – Approximately 2,000 technologies available • Sponsored Research – Solve exquisitely difficult problems • Industry Experts – For consulting or scientific advisory boards • More than 80 JHU start-up companies in various stages of development • Clinical trials

9. Innovative Marketing Technology Commercialization Company Formation and Entrepreneurial Development Programs Vine & Venture Forum Entrepreneurial Medical Device Tool Kit Day Annual Biotech Investor Conference Biotech and Medical Conferences BioMatch Entrepreneurial Speed Dating

10. Tech Transfer Is a Contact Sport

11. Make the Connections • Biomatch • A dozen inventors “speed date” with a dozen entrepreneurs • Determine the best match for longer discussion • Regional / National Events • J.P. Morgan SF Healthcare Conference • Sponsor start-up attendance at important regional meetings

12. JHTT Website • Fully Searchable database Boolean, flexible • Google and other search engine available • http://www.techtransfer.jhu.edu/ • click “Search Available Technologies • Contact licensing associate

13. Johns Hopkins Technology Transfer: There’s an app for that! NOW AVAILABLE! Download from App store

14. Deal Process Deal Terms • Engage the assigned Licensing Associate • Discuss deal terms • Exchange term sheet • Agree on deal terms

15. Deal Process Agreement • Receive JHTT standard license agreement with agreed terms • Negotiate minor changes to JHTT Standard Agreement • Sign and Drive

16. Technology Value Curve PROTOTYPE/ CLINICAL TRIAL MARKET EXPANSION IDEA PROOF OF CONCEPT COMMERCIAL LAUNCH Commercialization Stage

17. Common Deal Terms –Required provisions • Each deal depends on many factors • Required provisions • Licensee covers patent costs • JHTT Controls prosecution • Licensee Indemnifies JHU • Sublicensing consideration

18. Common Deal Terms –Typical Provisions • Typical Provisions: • Up front licensing fee • Annual fee/Minimum Annual Royalty • Milestone Payments • Patent Issuance • IND • Clinical Trials • Regulatory Approval • First commercial sale, and sales milestones • Running royalty on sales

19. Startups • Since This Century Began (1/1/2000): • 66 JHU Startups • Startups received >$476 M in funding • FY08 record funding year – >$76 Million funding to 12 startups • FY11 record number year – 19 new ventures • Director of Ventures

20. Startup Deal Terms • Startup deals can differ substantially from established companies • Cash is king, startups have little • Often need to defer costs • Rules, however, prohibit funding startup expenses • Patent costs already incurred can be deferred • New costs must be paid when incurred

21. Startup Deal Terms • Be creative • Equity • Change of control premium • Low cost up front and annually • Payments on value inflection • Sublicense and cash out fees

22. Tech Transfer Dilemma • $$$ Not necessarily priority of faculty • But important to University Happy Financial Folks Happy Faculty

23. Who Will Be The Best Partner? • Most likely to bring a good product to market • Best relationship with the University and faculty member

24. Other Options For Working With Technology/Inventors • JHTT is the Hopkins business concierge providing personalized service into JHU business

25. Industry – Faculty Relations Consulting Joint Development Collaborative Research Sponsored Research

26. Bringing the Benefits of Discovery to the World LOWER SHORE TECHNOLOGY TRANSFER SYMPOSIUM MAY 23, 2012 Wesley D. Blakeslee Executive Director Johns Hopkins Technology Transfer 410-516-8300 wdb@jhu.edu Questions?