Moving Beyond Commercialization: Strategies to Maximize the Economic and Social Impact of Genomics Research Yann Joly (McGill University), Angus Livingstone (University of British Columbia), Edward S. Dove (McGill University) GENOME CANADA, GPS 2011 Series September 27, 2011 OUTLINE 1. Commercialization 2. Valorization 3. Policy options, practical considerations and future research questions COMMERCIALIZATION The process of extracting economic value out of new products, processes, and knowledge through the use of IP rights, licensing agreements, and the creation of spin-off companies (Joly et al., 2010) TECHNOLOGY TRANSFER Moving advances in knowledge and technology into the commercial stream, where they can be put to work for the public good (NRC Report, 2010). ECONOMIC IMPACT OF COMMERCIALIZATION • Modest accomplishments in patenting and licensing activities • Almost no revenue generation • Spin-off companies in difficulty • Transfer problem in the biotechnology sector • Similar results in other developed countries ACADEMIC ISSUES (COMMERCIALIZATION) • Data witholding? • Conflicts of interest? • Proliferation of MTAs? • Blocking patents? VALORIZATION A broad concept encompassing all channels that contributes to ensuring that the outcomes of scientific knowledge add value beyond the scientific domain (Benneworth and Jongbloed, 2010). In this context, the importance of both economic and social values should be recognized (NCHA, 2010). Valorization is broader than commercialization, which is motivated primarily by profit (Slaughter and Leslie 1997, 2001; Bridgman and Wilmott, 2007). MAIN CHANNELS OF VALORIZATION POLICY OPTIONS 1 - Unite stakeholders behind a common, broader innovation strategy 1 A) Valorization or 1 B) Commercialization rebranded POLICY OPTIONS 2- Improve open information sharing to promote harmonization 2 A) Development of a national repository and/or 2 B) Creation of university organizations to coordinate valorization activities POLICY OPTIONS 3- Reshape the mandate of TTOs, ILOs and their equivalents 3 A) Broaden the mandate of TTOs or 3 B) Create specific offices for each channel of the valorization process PRACTICAL CONSIDERATIONS • Involve the private sector! • Use research policies to promote valorization (research funders – universities) • Develop common metrics/evaluation tools to measure valorization activities • Use IT to promote access and harmonization FUTURE RESEARCH QUESTIONS • Do you agree that commercialization has not succeeded in extracting optimal social and economic value from university research in biotechnology? • In this Brief, we took the position that promoting innovation in genomic research does not necessitate a specific strategy different from the one that applicable to other types of academic science research. Do you agree with this position? What improvements specific to the promotion of innovation in biotechnology research could be suggested in this Brief?