Karen LeVert, CEO

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University Technology Commercialization
February 21, 2008
Karen LeVert, CEO Southeast
TechInventures (STI) Research Triangle Park,
NC 919-941-6080 x100 klevert_at_setechinv.com www.sou
theasttechinventures.com
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Southeast TechInventures (STI) is a technology
accelerator focused on developing and
transitioning promising technologies from
university labs to the commercial marketplace
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Discovery consists of seeing what everybody has
seen, and thinking what nobody has thought. -
Dr. Albert Szent-Gyorgi


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STI Process

• Work in partnership with Technology Transfer
  Office to evaluate technologies for
  commercialization
• Use SBIR Grants for prototype development funding
• Establish master license agreement to streamline
  licensing of
• intellectual property
• Goal Spin-off Company creation, CEO, Business
  Plan, Funding
• STI receives an equity ownership stake in
  Spin-off company in return for services

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Commercial Opportunity


Assessment

• Innovation is the process of converting new ideas
  or
• inventions into new products and services that
• improve efficiency, effectiveness or quality of
  life. Is
• it
• A significant solution to a significant problem?
• Technology Push vs. Market Pull?
• Compelling Opportunity Uniqueness, Sustainable
  Advantage, Market Need, Business Model,
  Fundability, etc.?

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STI at 4 years old

• 12 Spin-off Companies
• Varying stages from prototype development to
  having raised B round of financing with 20
  employees
• Actively involved in commercialization efforts of
  5 universities
• Current Technology Focus Biotechnology (medical
  devices, drug delivery, no pharma presently),
  Photonics, Nanotechnologies, Materials
• Very well-connected with several SE Angel
  Investment groups and VC firms

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Bioptigen Case Study

• Dr. Joseph Izatt Renown researcher in the field
  of Optical Coherence Tomography, recipient of
  multiple university NIH grants
• Partnered with STI and secured 3 Phase I SBIR
  grants and 2 Phase II SBIR grants
• Proof of concept is great! Incorporated
  Bioptigen. Eric Buckland (20 years of
  commercializing advanced optical technologies)
  becomes CEO.
• Activities Patent protection, Market
  validation, Customer feedback, Market assessment
• Raised A Round in 2005, Raising B Round now
• Company will be cash flow positive this year
  18 employees

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• Spectral DomainOptical Coherence
  Tomography(SDOCT)
• Addressing the Ophthalmic Diagnosis Gap

October 2007
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Ophthalmic Diagnosis Gap

• Costs of Eye Disease and Vision Care to US
  Economy
• 48B in direct and 18B in indirect costs
• 15M people suffer from Glaucoma, Macular
  Degeneration, and Diabetic Retinopathy
• 1.4M LASIK procedures are performed each year
• Diagnosis Gap
• Diagnosis is too complex and too late
• Macular Degeneration diagnosed post-symptomatic
• Glaucoma detected after damage to retina and
  nerve head
• Retinopathy often precedes other symptoms of
  diabetes
• New Diagnostics required to catch and manage
  disease from earliest stages

November 09
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Confidential
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From OCT to SDOCT
PRL thinning
SDOCT
Large drusen
Gen 2 SDOCT highlights specific pathologies
SDOCT Generates its own Fundus Photograph
Stratus OCT
OCT requires separate Fundus photograph
Gen 1 OCT shows vague signature of disease
November 09
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Confidential
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Products for the Clinic and Research
Clinical Ophthalmic Scanner
Adolescent and adult patients
Hand Held Probe
SDOCT Microscope
Ex-Vivo tissue samples, small animal models
Pediatrics, immobile patients, and animal models
November 09
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Confidential
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• Thank You