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Karen LeVert, CEOSoutheast TechInventures (STI)Research Triangle Park, NC919-941-6080 [email protected]
University Technology Commercialization
February 21, 2008
Southeast TechInventures (STI) is a technology accelerator focused on developing and transitioning promising technologies from university labs to the commercial marketplace
“Discovery consists of seeing what everybody has seen, and thinking what nobody has thought.”
- Dr. Albert Szent-Gyorgi
• 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
STI Process
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.?
Commercial Opportunity
Assessment
• 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
STI at 4 years old
• 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
Bioptigen Case Study
Spectral DomainOptical Coherence Tomography
(SDOCT)
Addressing the Ophthalmic Diagnosis Gap
October 2007
Confidential
Apr 19, 20239
Confidential
Ophthalmic Diagnosis GapOphthalmic 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
Confidential
Apr 19, 202310
Confidential
From OCT to SDOCTFrom OCT to SDOCT
Gen 2 SDOCT highlights specific pathologies
Gen 1 OCT shows vague signature of disease
SDOCT Generates its own Fundus Photograph
Large drusen
PRL thinning
OCT requires separate Fundus photograph
Stratus OCT
SDOCT
Confidential
Apr 19, 202311
Confidential
Products for the Clinic and ResearchProducts for the Clinic and ResearchClinical Ophthalmic Scanner
SDOCT MicroscopeHand Held Probe
Adolescent and adult patients
Pediatrics, immobile patients, and animal models
Ex-Vivo tissue samples, small animal models
Thank You