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From Lab to Market Accelerating Innovations from Ideas to Commercialization

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  1. From Lab to MarketAccelerating Innovations from Ideas to Commercialization October 22, 2012

  2. Key Take-away Messages Innovate Calgary • is much more than UTI was... • has significant business and investment expertise, & if we don’t have it, we can access it • wants to help you commercialize your ideas

  3. Agenda Peter Garrett, Interim President An Introduction to Innovate Calgary Jessie Kubes, Licensing From Ideas to IP David Edmonds, Executive-in-Residence From IP to Company

  4. Our Vision & Mission VisionTo be the organization of choice for commercialization and knowledge transfer. Mission To accelerate, facilitate and support innovation in the technology sector.

  5. Innovate Calgary Track Record (0ver 30 years) • Over 1,700 invention disclosures and 690 patents issued • Over 590 technology commercialization agreements in over 24 countries generating over $29M for the innovator community • Consistently ranked one of the top 5 Canadian Institutions in licensing revenue (AUTM Surveys) • Over 40 spin-off companies • Supported more than 120 companies prepare to present at financing forums raising over $10.5M in funds • Provided over 1,000 tenants and corporate identity clients with services at the Alastair Ross Technology Centre

  6. Innovate Calgary’s Ecosystem Role Researchers/ Inventors • Connecting the players • Quantity of interactions • Quality of interactions Innovate Calgary Entrepreneurs/ SME’s Investors

  7. Innovate Calgary’s Ecosystem Role Researchers/ Inventors • Providing services to the players Services Innovate Calgary Services Services Entrepreneurs/ SME’s Investors

  8. Innovate Calgary Services • Company Creation • Experienced Executives-in-Residence • Dedicated business development personnel • Access to a variety of services including: legal, communications, business planning and financial modeling • Corporate structure planning to meet regulatory and investor requirements, and virtual company capabilities • Investor Development • Alberta Deal Generator • Largest network of active and accredited investors in Canada pursing opportunities in Alberta’s early and growth-stage companies • To date, more than $15 million in financing has been facilitated through Alberta Deal Generator, in addition to more than $30 million in follow-on investments • Joint initiative with TEC Edmonton

  9. Innovate Calgary Services • Facilities • Alastair Ross Technology Centre: • 120,000-sq-foot facility • Flexible leases and support services • Offers both physical space and virtual tenancy • Research Transition Facility (RTF) • Partnerships • Offers a suite of customized services to accelerate the start-up process and commercialization efforts for new Centres of Excellence and academic institutes • Entrepreneur Development • Coaching & Mentoring • Seminars & Workshops • Networking

  10. Innovate Calgary Services • Licensing • Commercial assessment  • IP protection & strategy • Determine pathway for commercialization • Marketing technologies • Negotiating technology agreements • On-going, post agreement management and administration of intellectual property  • Industry Engagement • Provides business-to-business connections between entrepreneurs, SMEs and large enterprise with the goal of assisting in the identification of clients and partners and facilitating partnerships, funding and financing opportunities.

  11. Licensing Jessie Kubes, Licensing From Ideas to IP

  12. Innovate Calgary Commercialization Process Go – No Go Assignment Agreement Innovate Calgary Invention Disclosure Report to inventors Research Services Revenue Share Arrangement

  13. 30-day technology assessments (free) Evaluate the science and potential benefits of the technology, its stage of development, funding sources and related encumbrances, relevant scientific and patent literature, potential market and licensees Commercialization advice and guidance to researchers Licensing team works with researchers to preserve academic freedom and get technologies into market Develops intellectual property protection and strategy Established relationships with some of North America’s prominent law firms Technology Assessment Process

  14. Identify Encumbrances • Are there multiple owners? • Joint ownership can come from: • Funding agreements • Sponsored research • Material transfer agreements • Inventors employed elsewhere • Inventor or institution owns policy • Have agreements already been made that limit your ability to commercialize? 14

  15. Dealing with Encumbrances • Unify ownership • All owners assign their rights to the technology (and typically improvements) to a single entity so they have the authority to negotiate agreements • Retain joint ownership • All owners agree on a party, or process to commercialize so everyone is pulling in the same direction • Who pays costs? • Who leads negotiation? 15

  16. Establish appropriate valuations and optimal pathways for commercialization Market the technology (full-time marketing assistant) Structure and negotiate transactions with industry partners to maximize value (licensing managers and agreements manager) Provide ongoing, post-agreement management and administration of IP Assist with commercialization grant applications i.e.. CIHR POP grants Following Assignment Agreement

  17. Commercialization Funds • CIHR PoP Phase I and II • NSERC Idea to Innovation Phase I and IIa • Alberta Ingenuity • IRAP • Alberta Innovates Voucher Program • Alberta Innovates Technology Futures • BioAlberta Medical Product Development Program (MPDP) • Gecko funding from TecTerra

  18. New Proactive Initiatives– AIHS Team Grants • Satellite office in the Faculty of Medicine (TRW 5th floor) • Manuscript review prior to publication • Actively engaged with two institutes • New initiative launched between AI-HS and Innovate Calgary to assist researchers in mining technologies developed from interdisciplinary team grants • Commercialization support provided by Innovate Calgary • Profiling teams to industry • IP education for trainees • Participation in strategic retreats • Reviewing manuscripts and abstracts • Presentations

  19. Advantages of Working with Innovate Calgary Experienced in all aspects of technology transfer and commercialization Commercialization risk taken on by us E.g. patent and marketing expenses We protect your academic freedom Provide access to development funds Ensures liability protection for inventors and the University Allows you to focus on your research

  20. Success Story - Licensing Piers Catalysts • New Generation Olefin Metathesis Catalysts • Catalysts for the manipulation of C-C bonds • Can be used in pharmaceutical manufacturing • Dr. Warren Piers and Dr. Patricio Romero • US Patent issued in April 2008: 7,365,140 • Licensed to Materia(www.materia-in.com, Pasadena, CA) • Sold via Aldrich (catalogue numbers 707988 & 707961)

  21. Success Stories - Licensing Cell Lines for Drug Development • Dr. Wayne Chen • Cell lines to help identify new drug candidates to treat cardiac conditions • Non-exclusive license agreements with Allergan and Bayer-Schering • Research tools can be commercialized!

  22. Success Stories – Company Creation Circle Cardiovascular Imaging • Calgary-based company selling cardiovascular imaging software based on Dr. Matthias Friedrich’s technology • Spun out of Innovate Calgary’s company creation program • 17 staff, product installed in over 45 sites in 12 countries, raised over $4.3M in financing • www.circlecvi.com

  23. Life Science Technology Start-Up Parvus Therapeutics • Dr Pere Santamaria • Innovate Calgary provided $230,000 for proof of concept and IP portfolio development • In-kind resources provided: salary (EIR, manager), back office support etc. • Leveraged $2.35 million in additional non-dilutive funding • AHFMR, CIHR, JDRF, NSERC, NRC-IRAP, NanoBridge, NanoVenture Prize 2012, AITF • Issued patents in US, China, NZ. • 13 Patents pending in Japan, Aus, Can, Isr and Europe • Currently Seeking 1st round VC funding for preclinical development • www.parvustherapeutics.com

  24. Success Story: Company Creation and Licensing Diagnostic and Therapeutic Devices for Sleep Apnea • Dr. John Remmers • One of the first scientists to identify sleep apnea • Founding father of the Continuous Positive Air Pressure (CPAP) device, which was successfully licensed by Innovate Calgary • Licensed exclusively by Innovate Calgary to an international company • More recently Zephyr spun out of Innovate Calgary’s company creation program • www.zephyrsleep.com

  25. Our Licensing Team • David Reese, MSc, MBA • Jessie Kubes, PhD • Robert Carruthers, MEng • Raja Singh, MD, PhD • Chris Nicholls, PhD • Jim Wilson, PhD • Rishi Batra, MEng • Quang Tran, PhD • Andrei Edwards, MBA, JD • Angelo Nwigwe, BSc, MBT

  26. Company Creation David Edmonds, Executive-in-Residence From IP to Company

  27. Company Creation (CC) – What we do • We help commercialize very early stage technologies in Southern Alberta through: • Identifying talented inventors with novel technologies and large market potential; • Injectingmanagement, expertise and “starter capital”; • Launching a new company and taking a meaningful ownership stake; • Accelerating the opportunity, through value-added services; • Attracting outside funding, recruiting Boards and senior executives, and “spinning out” the company.

  28. Our Niche: Funding and Services Gap in the Alberta Tech Sector Early or No Revenues Later Stage Revenues Concept / Early R&D Prototype / Proof of Concept VC’s / Public Market Gov’t Grants / “Love” Money Innovate Calgary CC Angels / AVAC / Accelerate Fund

  29. Technology Focus Includes

  30. Our Team • Executives and Entrepreneurs-in-Residence • PhD, BEng, BSc, MBAs • Founders of 15 start-up companies • Raised over $110 million in private and public markets • Over 50 years experience as CEOs • Managed over 1000 employees • Portfolio Managers • Engineers, Scientists, and MBAs • Focus on opportunity identification and management • Analysts • Scientists, Engineers, Marketing, Finance, and IP

  31. Entrepreneur Backgrounds • Stace Wills: VP Company Creation – ex-Elluminate, co-founder Accolade Capital • Dave Edmonds: EIR (Oiltech and ICT) – founder of Burntsand, Soft Options and other startups • John Lowe: EIR (ICT) – founder of Poynt, The Advisory Group and other startups • John Fallavollita: EIR (Cleantech) – founder and ex-CEO of IOSIL Energy Corp. • Jeremy Krol: Manager, Company Creation – ex-Jennings Capital • David Yiptong: Manager, Company Creation – ex-Nortel Networks

  32. Our Advantage • Patient capital / earlier-stage focus: • We play where most investors won’t accept the risk • Sustainable model: • Company creation costs partially offset by licensing and building revenues • Close ties to southern Alberta academic research community Complementary to, not competitive with, private industry: • We expand angel/VC deal pipeline

  33. Our Portfolio • 10 private companies, mostly based in Calgary • Equity and/or debt participation

  34. Building Winners Innovate Calgary raised $1.75M in angel/VC financing and grants. 20 new distributors on board. Former Company Creation company -- recently raised $3M+ in VC financing. More than doubled revenues this past year. Therapeutic targeting auto-immune diseases including T1D. Raised ~$3 M in grant funding.

  35. From the Trenches...Pure Startups Stage 1: IP Assignment • Sponsored Research Agreement between U. of Calgary engineering chair and 2 large, private companies • “Clean” IP title transfer to NewCo Stage 2: NewCo Launched • Incorporation • Starter cash provided / grant applications filed • Board of Directors and Industry Advisory Board Stage 3: Off to the Races • New patents filed • From bench to field trails

  36. From the Trenches... The “Orphans” • New Talent Added: • Innovate Calgary “mentor” (EIR) – David Edmonds • New Board and management • New business plan and financial model • Financing Closed: • $800,000 from private (angel) investors • $900,000 from institutional investor • $50,000from government grants • Strengthening IP: • Mapping out overall IP Strategy • Next Phase…: • Currently working with Apple on product integration/distribution

  37. Sample of Technologies in our Pipeline… • Micro-Nano Electronic technologies in the solar energy space • Novel materials and processes for EV battery systems • Novel materials for oil well diagnostics

  38. Why Innovate Calgary to Create a Company? • Money • Management • Momentum

  39. Challenges Innovate Calgary can Assist with • Experienced in all aspects of technology transfer and commercialization • Commercialization risk taken on by us • i.e. patent and marketing expenses • Ensures liability protection for inventors and the University • Work with University Intellectual Property terms to negotiate on behalf of researchers • We protect your academic freedom • Allow researchers to focus on their research

  40. Questions & Discussion How can U of C inventors and Innovate Calgary partner together to build winning Alberta companies?

  41. Connect with Us Innovatecalgary.com 403.284.6400