zeev weinfeld new srtategies for starting up
DESCRIPTION
Day of the Entrepreneur 2009TRANSCRIPT
New Strategies for Starting Up
the perspective ofRamot at Tel Aviv University Ltd.
Ze’ev Weinfeld, Ph.D.
CEO
Technology Transfer
University-industry technology transfer is the process of moving research results from the laboratory to the marketplace
To foster, initiate and lead the transfer of To foster, initiate and lead the transfer of new technologies from the laboratory to new technologies from the laboratory to the marketplacethe marketplace
To strengthen the relationship between To strengthen the relationship between TAU's research community and the TAU's research community and the business community business community
Ramot’s Objectives
#2 (~20% value share)UK mouthwash market
x4™ Technology: The Next Level of NAND Flash
2 drug candidates in Phase IIAL108 (AD/MCI, Schizophrenia)AL 208 (MCI-CABG)
3 drug candidates in Phase IIPRX-03140 (AD)PRX-08066 (Pulmonary hypertension)PRX-07034 (AD, Schizophrenia)
Bio Pharmaceuticals PipelineBio Pharmaceuticals Pipeline
Company Disease/Condition Researcher Pre-Clinical
Clinical Phase I
Clinical Phase II
Clinical Phase III
Wyeth / Elan Alzheimer's disease Prof. Beka Solomon
Wyeth / Elan Alzheimer's disease Prof. Beka Solomon
Allon Therapeutics MCI/stroke Prof. Illana Gozes
Allon Therapeutics Alzheimer’s disease Prof. Illana Gozes
Allon Therapeutics Schizophrenia Prof. Illana Gozes
Epix Pharmaceuticals Pulmonary Hypertension Dr. Oren Becker, Prof. Zvi Naor
Epix Pharmaceuticals Alzheimer’s disease Dr. Oren Becker, Prof. Zvi Naor
BioLineRx Schizophrenia Prof. Weizmann, Dr. Rephaeli, Dr. Gilad
Concordia Pharm. Cancer Prof. Yoel Kloog
Epix Pharmaceuticals Obesity, AD & Schizoph. Dr. Oren Becker, Prof. Zvi Naor
BioLineRx Neuropathic Pain Prof. Weizmann, Dr. Rephaeli, Dr. Gilad
BrainStorm Cell Th. Parkinson's disease Prof. Eldad Melamed, Dr Daniel Offen
Sepal Pharmaceuticals Cancer Prof. Eliezer Flescher
Merz Pharmaceuticals Alzheimer's disease Prof. Ehud Gazit
Neurophage Pharm. Alzheimer's disease Prof. Beka Solomon
BiolineRx Parkinson's disease Prof. Weizmann, Dr. Rephaeli, Dr. Gilad
NasVax Alzheimer's disease Prof. Beka Solomon
Company Product/Field Researcher PreClin./ Prototype
Clinical Phase
EnzySurge Wound healing Prof. Amihay Freeman
Lavi Cardiatec Endothelial function Dr. Giora Amitzur
Althera Medical Radiotherapy Prof. Kelson, Prof. Kesari
Frutarom Anti-virus nutraceutical Prof. Michael Ovadia
Company Technology Researcher Development
DiSP Solar Energy Concentrator Prof. Avi Kribus
SanDisk Flash memory x4 technology Prof. Simon Litsyn
Scilense Microwave drill Prof. Eli Jerby
Enstorage Secondary fuel cells Prof. Emanuel Peled
Diagnostic, medical devices and agro pipelineDiagnostic, medical devices and agro pipeline
Engineering and exact sciences pipelineEngineering and exact sciences pipeline
Deal Models and Revenue Strategies
Research Funds
Fees and Milestones
payments
Running Royalties
Equity participation
Licensing DealsLicensing Deals
Licensing of IP, know how to an existing company
New venture formation / New venture formation / SpinoutsSpinouts
Licensing of IP to the start-up company
20-25% of licensing deals
Why Spinouts?
• Academic research discoveries often too
early for established companies
• Large company focus is global marketing
• Economic growth and job creation
• Diversify institution’s research/service
• Growth of entrepreneurial faculty
• Potential to share in value — upside
TAU Future Technology Partnership (TAU-Tech)
Return on investment
Tel Aviv University
technologies
Industry
Licensing: royalties and fees
Start-ups:Equity participation
Ramot:
Technology management
Business development
Technology transfer
investment
$8.5M
Proton Cond MembraneProton Conducting Membrane(Prof. Emanuel Peled)
Fuel Cell for Mobile Electronics
Research
Secondary Fuel CellsFor Energy Storage
TAU-Tech
Active commercialization
Spinout ExampleFuel Cell
Spinout Formation
Tel Aviv University Fund for Applied Research
Spinout Example
• Entrepreneur – Eran Yarkoni (CEO)• Later joined by Nachman Shelef (Chairman)• Founders team includes:
– Prof. Emanuel Peled (CSO)– Arnon Blum (VP R&D), a graduate Ph.D. student of
Prof. Peled
• Funding– Greylock Partners– Canaan Partners– Siemens Technology to Business Center LLC
Spinout Formation @ Ramot
• Seasoned entrepreneur• Negotiate term-sheet & agreement• Require minimum investment by a pre-determined time• Hands-off relationship
– Warrants or non-voting shares– No BoD participation
• Researcher can be officer, director, consultant and perform research @ lab– Ramot does not share in researcher’s extra consideration– IP owned by Ramot and under license– Conflict of interest taken care of by TAU
Proton Conducting Membrane(Prof. Emanuel Peled)
Fuel Cell for Mobile Electronics
Research
Secondary Fuel CellsFor Energy Storage
Tel Aviv University Fund for Applied Research
TAU-Tech
Active commercialization
Lessons LearnedFuel Cell
Spinout Formation
Thank You
Ze’ev Weinfeld, Ph.D.
CEO