Commercialising research:
demystifying Isis, IP and
commercialisation
Andrew Bowen, Kerry Antcliffe,
Nikolaos Chalkias, Mark Gostock
Isis Innovation Ltd
Tuesday 24 March 2015
Isis Innovation Ltd
A company 100% owned by the University of Oxford
Oxford Technology Transfer IP, Patents, Licences, Spin-outs, Software
Start-ups, Material Sales, Seed Funds,
Isis Angels Network
Oxford Expertise Consulting, Services
Isis Consulting Business Technology Transfer and Innovation
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Spin-outs
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Agenda
Technology transfer and IPR
Isis software incubator case
study
Oxford University Consulting group
exercise
Recent Isis news
Isis making news 2014 - Natural Motion
• Isis activities have made big headlines in recent months - you may have
heard success stories such as…
• The sale of Isis spin-out Natural Motion, founded by Torsten Reil in 2001
(ex Dept of Zoology), to Zynga for $527m.
• The University will benefit from more than £30m in cash and shares from
the deal, which will replenish seed funds managed by Isis that will help
launch the next generation of spin-outs
Isis making news 2014 - Nightstar
• Restoring sight – formation of Isis spin-out Nightstar with £12M
investment from Syncona (Wellcome Trust)
• First programme is gene therapy for an inherited form of progressive
blindness (choroideremia) developed by Professor Robert MacLaren at
Nuffield Laboratory of Ophthalmology
Isis making news 2014 - Winners!
• Named Technology Transfer Unit of the Year - after a “Stellar Year.”
• High points of 2014 include - Natural Motion (largest exit since
launching Global University Venturing), raising £1.25M University of
Oxford Isis Fund I and a further £2M on Fund II and hugely successful
year for the Isis Software Incubator
Summary
• Commercialisation/technology transfer
• Work with new discoveries
• Protect the underlying intellectual property to provide
security
• Find the best route to market
• Return money to the University and inventors
• Create impact
What is Intellectual Property?
• Intellectual Property (IP) can be ideas, information and
knowledge
• In a University context IP is the results and outcomes of
research
• “Intellectual” because it is creative output
• “Property” because is it viewed as a tradable
commodity
• Intellectual Property Rights (IPR) are specific legal
rights that protect the owners of IP
What are Intellectual Property Rights?
» Innovations, Methods, Processes, Physical Matter,
Reagents, Compounds, Devices
» Logos, Jingles
» Music, Art, Software, Questionnaires, Business
Plans, Databases
» Expert skill, information, knowledge
Trademarks
Copyright
Patents
Know How
What are Intellectual Property Rights?
» Never disclosed or made public anywhere in the world
before the application date
» Not an obvious modification of what is already known
» Capable of being used or made in any kind of industry
» Sufficient detail for others to be able to practise
Novel
Applicable
Inventive
Enabling
What can you do with Intellectual Property
Rights?
• Commercialise the technology using two main
routes:
1. Licensing - give an existing company the right to
use the technology in exchange for money
2. Spin-out - set up a new company specifically to
develop/sell the technology
Licensing versus spin-out
Licence Spin-out
Low risk High risk
Relatively low investment Requires a large investment
Doesn’t require a large market Need a large market to justify the
investment
Suitable for technologies that make
small, but significant, improvements
over current products
Suitable for completely new
technologies that don’t fit the current
market stereotype
Best for technologies that are close
to market
Suitable for technologies that require a
lot of money to develop the final
product
Suitable for products with specific
applications
Best for platform technologies that
address a number of different
applications
Chilli Sensor
• Licensed to Bio-X in 2013
• Company already produces a
number of biological/chemical
diagnostics
• Contacts within the food and
beverage industry
• Trials ongoing at a variety of food
and beverage companies
throughout the world
pH Sensor
• Spin-out formed in 2008
• Now called Senova Systems
• Secured $10 million in funding
• Launched the world’s first
calibration-free pH meter in 2012
• Won a variety of innovation
awards
The (different) approach taken by the
incubator - 3 principles
• All (software) ideas welcome
• (but) No patents
• An emphasis on building a business (rather than
writing a business plan)
Those are my principles, and if you don't like them... well, I have
others -Groucho Marx
• 40 ventures admitted to the programme
• 17 incorporated as companies
• 8 completed the programme and are now independent
• £10M raised so far
The Isis Software Incubator in numbers
Brainomix: a medical imaging software
start-up A story of a handful of Scientists and aspiring
Entrepreneurs
• No previous commercial experience
• No knowledge of coding or software development
• Limited understanding of Intellectual Property
• No funding
• …and no idea where to start
• But they had a great business idea
• They were experts in their field
(medicine, neuroscience, neuroradiology) and tenacious!
• A company was previously incorporated to execute the idea overseas
• A local Incubator was used but had limited funding to support the
venture
• Software was coded by a 3rd party (also based overseas) under a
contract
• The code (at the time of our 1st discussion) was:
• Incomplete
• Not readily available… due to unpaid fees to the above 3rd party!
• Founders could not articulate whether the ASPECTS method that
they were basing their product was ‘owned’ by anyone or whether
they had considered the FTO…
Challenges
Some of the Isis contributions along the way
• Intellectual Property review and guidance
• Introductions to professional services at preferred rates
• Introduced Brainomix to their current Chairman of the Board
• Numerous opportunities to present to investors (Oxford Isis fund
also an investor)
• Ensure paper trail is in place for future due diligence
• Many networking opportunities to connect Brainomix to the Oxford
ecosystem and beyond
• Funding for the first few months: operational expenses ~£15k
• Provided premises for the first 10 months
• Mentoring and strategic thinking
• Association with the Oxford’s and Isis’ brand name
Oxford University Consulting
To help academics identify and manage consulting opportunities
To provide external organisations with access to University expertise
To support departments in arranging external services (including consultancy) work
Academic Consulting and Services
ADVICE
EXPERTISE
SERVICES
£ FEES
“Consultant” Professor/PI/Post-
Doc/DPhil Student/Department
“Client”
Company, Charity, Government
body
Important: Done while employed/studying at Oxford
Group Exercise
• Examples of academics’ interactions with
external organisations
• In groups, discuss each example and decide what
type of the opportunity exists and who should
the academic be directed to for help?
Consultancy: Licensing and Spin-outs
CONSULTANCY TO:
SUPPORT, ADVISE,
GUIDE, ENABLE
DEVELOP
GROW
Licensed
Technology
New Spin-
out
Working with Isis
Isis Innovation Ltd, Ewert House, Ewert Place, Summertown, Oxford OX2 7SG
T 01865 280830 F 01865 280831 E [email protected]
Register to receive Isis E-News at: www.isis-innovation.com/news/enews
Follow us: @IsisInnovation
Working with Isis
Isis Innovation Ltd, Ewert House, Ewert Place, Summertown, Oxford OX2 7SG
T 01865 280830 F 01865 280831 E [email protected]
Register to receive Isis E-News at: www.isis-innovation.com/news/enews
Follow us: @IsisInnovation