26 February 2009

Timothy Barnes, Executive Director, UCL AdvancesCengiz Tarhan, Managing Director, UCL Business PLC

Enterprise Engagement at UCL

Overview

UCL - London’s research and teaching powerhouse• Established over 180 years ago the first

university in England to admit students of any race, class or religion, and the first to welcome women on equal terms with men

• The first in England to teach experimental science, modern European languages, Laws…

• Many research firsts:– The first transatlantic connection of the precursor of the

internet– The identification of the generation and propagation of

nervous impulses – The discovery of inert gases, including neon– The invention of the thermionic valve, which made radio

and modern electronics possible– Identification of the binding receptor for HIV

54 academic departments grouped into 8 faculties

• Multi-disciplinary - from Fine Art to Medicine

• Internationally-renowned centres of excellence, e.g.

– UCL Bartlett faculty of Built Environment– UCL Neuroscience– UCL Slade School of Fine Art

• Over 4,000 research staff – 20 Nobel Prize winners (including Mahatma

Gandhi, Andrew Huxley and Bernard Katz …) – 34 Fellows of the Royal Society– 77 Fellows of the Academy of Medical

Sciences

• Over £600M per year in research

UCL Enterprise Strategy

UCL AdvancesDeveloping the culture of

business and entrepreneurship

Knowledge dissemination

Knowledge creationIntellectual property

Capital and revenue

UCL relationships

Enterprise engagement

Underlying Support from:-Office of VP Enterprise

-Corporate Alliances-Business Partnerships

-KTP Office-Others

Academic DepartmentsResearch, publishing

and teaching UCL BusinessTransactions

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The commercial academic’s story

UCL Business

UCL Advances

Academic Departments

1a – With help from UCL Advances, academic learns potential benefits of collaborating with business, undertakes training and finds opportunity to engage through networking.

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1b – Academic returns to UCL Business with potential commercial project, such as spin-out, license or consulting. UCL Business carry-out due diligence, assist with patenting, provide proof-of-concept funding, company formation and other services and assistance as required.

2 – The project makes financial returns that are distributed to the researcher, their academic department and UCL Business. The project leads to new links that return research publications and opportunities to UCL.

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3 – The project becomes a case study for research and the successful academic is championed by UCL Advances to inspire others at UCL and beyond, which helps attract talent to the academic department and UCL as a whole.

UCL Advances

Introduction to UCL Advances

• Founded in 2007 as UCL’s centre for entrepreneurship and business interaction

• Forms part of a unique arrangement among UK universities in delivering knowledge transfer to businesses

• Aims to bring together academic researchers, businesses and investors and stimulate new collaborations that will drive innovations that benefit the economy and society

Support Schemes

Provide inducements to engage and collaborate

Make them more effective by developing new capabilities

Training and Skills

Building collaborations - a three step process

Bring people together by catalysing connections

Events and Networking

Events and networking

• Bringing people together– Technology Innovation Forums

• 3 per year, each forming the core of annual theme programme– Hosted events

• Bringing external organisations into UCL, supporting other activities– UCL Awards for Enterprise

• Six categories rewarding entrepreneurship and commercial engagement for faculty and students

• Maintaining links– ‘Speed-dating’ events for those interested in collaborating– UCL Additions social networking system at www.ucladditions.com

Training and development

• London Entrepreneurs’ Challenge– Entry-level programme in the basics of starting a business with

300-400 participants per year

• Scientists and Researchers in the Business World– Deeper training for faculty and researchers in a broad set of

business concepts

• Marketing Science to Business– For faculty and researchers, working on specific skill sets in depth

• Online Entrepreneurship Resources– Supporting programmes across UCL; available to all

Support schemes

• Providing support with negotiating knowledge transfer support schemes at UCL

• Delivery of ‘Knowledge Exchange Associates’– KTA-funded programme to place five completing PhD

students into SMEs to transfer skills and know-how• Secondment-into-Knowledge

– LDA programme supporting academics across London that work with SME’s to solve technical problems

UCL Business

Introduction

• Commercial arm of UCL• Wholly-owned• Relationship governed by MoU between UCL and

UCLB• Financially self-sufficient• Profitable• Strong Board with industry expertise• Interface between UCL and industry

Financial performance

2007/8 2006/7 2005/6 2004/5Core Activity £’000 £’000 £’000 £’000

Turnover 6,209 5,351 3,460 3,673

Expenditure 5,925 5,102 3,213 3,557

Profit on core activities 284 249 247 116

(Proceeds from spin outs not in above)

(7,349) (18) (915) (11,733)

Excludes any capital appreciation or impairment of investments

Deals delivered

StatusNo. of projects at December 2008

Activity for 2007/8

Activity for 2006/7

Invention (IDF) 70 95 68

Patented 55 32 41

Exemplification (POC) 25 15 18

Marketing & negotiation 63 - -

Licenses 217 34 28

Investments 15 2 3

Companies 45 1 5

Company creation example: Medic-to-Medic• Created in 2000• Direct investment £1.7M• 2004 - £10M contract with Fujitsu• 2005 - £20M contract with Accenture• 2005 - Asset sale to Informa PLC - £10.5M• 2008 – Acquired by Hearst for an undisclosed sum• Profit £5M (£1.5M each to UCL and Royal Free Hospital)• Map of Medicine product now available to 52 m UK residents

at www.nhs.uk and at the core of the NHS connecting for health programme

Licensing Example: Hepatic Encephalopathy Project • Therapeutic area - liver failure (annual market >$500M)• Initially invested ≈£60K PoC funds to validate and secure IP position• UCLB then committed £500K mile-stoned funding• Efficacy studies on new formulation (PK/PD)• Toxicology studies (outsource)• GMP production for First in Man• CTA to MHRA• A further £750K received from a MRC Experimental Medicine grant• December 2008 - Licensed out for $40m package + royalties

Thank-you

26 February 2009

Timothy Barnes, Executive Director, UCL Advancest.barnes@ucl.ac.uk www.ucl.ac.uk/advances

Cengiz Tarhan, Managing Director, UCL Business PLCc.tarhan@ucl.ac.uk www.uclb.com