Technology Transfer How to Apply for Translational Funding

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Technology Transfer How to Apply for
Translational Funding Dr Nicola Bailey Business
Analyst Technology Transfer Division (T) 020
7611 8632 (e) n.bailey_at_wellcome.ac.uk
To foster and promote research with the aim of
improving human and animal health
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Financing the gap
Follow on funds
Advancing knowledge
Using Knowledge
Engaging Society
Government / Philanthropic grants
Technology Transfer
Venture Capital
Private equity / public markets
Publication / Grants
Charitable mission
Sustainable advantage
Sustainable business
RISK IS DEFINED BY SECTOR DRIVER
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Technology Transfer DivisionBridging the RD gap

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Diversity of Translation Funding
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A few misconceptions
of course the Trust will want to have some
ownership of IP arising from the project
The IP is owned by the university or company.
.you only fund projects arising from Trust
funded research
We look to fund the best projects from any
background
....only interested in Biology
Technology Transfer has a history of funding
projects ranging from computation through to
devices
you wont fund companies
We have funded into companies with a range of
models from small virtual set-ups to
international Pharma
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Typical Process
Application
Triage Tech Transfer Challenge Committee
Scientific / Technical
Application
IP / Legal
Risk analysis
Expert Opinions
Regulatory
Milestones
Due Diligence
Business
Patent position
Tech Transfer Challenge Committee (routine
decision)
Commercial Strategy
Tech Transfer Strategy Panel (strategic
decision)
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Funding the difficult art of giving
I am in trouble . The pressure of these
appeals for gifts has become too great for
endurance.I am so constituted as to be unable to
give away money with any satisfaction until I
have made the most careful enquiry as to the
worthiness of the cause. These investigations are
now taking more of my time than Standard Oil
itself.
Letter from John D Rockefeller writing to
Frederick T Gates, secretary of the American
Baptist Education Society, 1892 (in The Difficult
Art of Giving, Wilder Penfield, Little Brown and
Co, 1967)
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Due Diligence Probability of Success
Risk
Technical
...feasibility, validation
...feasibility, team, market
Milestones
Regulatory
...timings, content, suitability
awareness, preparation
Healthcare Impact
IP
Clinical
...current assets, potential new IP
informing clinical practice
Commercial
Business
...competitive advantage,
opportunity
model, revenue generation, further funding
requirements
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The Seven Deadly Sins

• Poor project plan
• Lack of key expertise/experience
• Unclear competitive advantage
• Unrealistic commercial exit
• Under-resourced project
• Major product development hurdles
• Weak scientific rationale

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Managing Risk

• Based on scientific excellence and unmet medical
  need rather than commercial objective
• Limited exposure to infrastructure costs,
• Outsource activities to CROs where appropriate
• Project managed, with success driven, milestone
  based programme related investment
• Multidisciplinary teams of an optimal size,
  supported with experienced advisors

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Next Call for TA proposals

• 14th August Submission of a preliminary proposal
• Mid-September Assessment in and feedback as to
  whether submission of a full proposal has been
  invited
• Mid-October Full applications deadline
• Mid-December Presentation to Funding Committee
  and funding decision

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Where can charity add most value?
Increase number of scientists who can translate
drug discoveries into effective new
medicines One proven route to drug discovery
is innovation forged through synergistic
industrial-academic collaborations Enhance
drug R D efforts in non-profit institutes
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Concept Seeding Drug Discovery
years 3-6 month
6-12 month 12-24 month 12 month
Lead Optimisation
Assay Development
Pre-clinical Evaluation
Target Discovery
Hit to lead
IND filing
Pharmacokinetic / dynamics Early Toxicology
package Process Development Small scale GMP
manufacture
Functional genomics Proteomics In vitro / in
vivo disease association
To develop drug-like, small molecules that will
be the springboard for further R D by the
biotech and pharmaceutical industry in areas of
unmet medical need
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Trust funded small molecule drug discovery
 
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Typical Process
Application
Triage SDDI Triage Committee
Scientific / Technical
Application Funding Agreement
IP / Legal
Risk analysis
Expert Opinions
Regulatory
Milestones
Due Diligence
Business
Patent position
Reviewer Feedback Responses
Commercial Strategy
SDDI Funding Committee
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What is expected in return?

• ACADEMIA
• Trust leads on exploitation of commercialisable
  assets
• 50 50 split on revenues
• SME
• Unsecured Convertible loan (Equity conversion at
  20 discount to share price at next professional
  investment round)
• Repayment options at Trust discretion (LIBOR
  2)
• PHARMA
• Milestone / royalties based deals
• Step in rights to ensure achievement of
  charitable mission
• OTHER (based on circumstance)
• Bespoke

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Next Call for SDDI proposals

• 9th November Submission of a preliminary
  proposal
• Mid-December Assessment in and feedback as to
  whether submission of a full proposal has been
  invited
• Late February Full applications and funding
  agreement deadline
• Early May 2010 Presentation to Funding Committee

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http//www.wellcome.ac.uk/Funding/Technology-trans
fer/index.htm
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