Bringing the Benefits of Discovery to the World
LOWER SHORE TECHNOLOGY
TRANSFER SYMPOSIUM
MAY 23, 2012
Wesley D. Blakeslee
Executive Director
Johns Hopkins Technology Transfer
410-516-8300
wdb@jhu.edu
JHTT Mission Statement
The Johns Hopkins Technology Transfer office furthers the mission of
The Johns Hopkins University to bring the benefits of discovery to
the world, by implementing the commercialization of University
innovations for the public good by:
•Encouraging and supporting invention disclosure;
•Encouraging and supporting entrepreneurs;
•Effecting technology development and licensing;
•Increasing available research funding; and
•Protecting and managing the University's intellectual property
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Large Experienced Office
• 50+ employees, including:
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Experienced Senior Management
12 Experienced Licensing Professionals
5 IP Managers
3 Patent Attorneys
4 Agreements Specialists
2 Marketing And Corporate Relations Managers
1 Dedicated New Ventures Manager
Experienced Support Staff
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Faculty Service - Our #1 Goal
Disclosures
• Electronic submission, staff assistance
• Patent search, marketing research, broad-based marketing
Business
Development
• Industry – University relations
• Startup company guidance
Financial
• Invoicing and collections
• Quarterly royalty distributions
Information
Material
Transfers
• Online faculty system access (transparency)
• Faculty and departmental reporting
• Improving turnaround with greater volume
• New electronic solutions
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Finding Technology
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Publications
Conferences
Inventor
JHTT
JHTT Events
JHTT Outreach
JHTT Website
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JHTT
• Contact the office
– Contact info on website
– Hotline:
– JHTT-Communications@jhu.edu
• Sign up for alerts
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JHTT Events
• Programming
– Alliance for Science and Technology
– Annual Bioinvestor Conference
– Special events – “Vine and Venture”
• Match Making Service
– Represent smaller spin-offs at large
networking/partnering events
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JHTT Outreach
– Licensing – Approximately 2,000 technologies
available
– Sponsored Research – Solve exquisitely difficult
problems
– Industry Experts – For consulting or scientific
advisory boards
– More than 80 JHU start-up companies in various
stages of development
– Clinical trials
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Innovative Marketing
Technology Commercialization
Company Formation
and
Entrepreneurial Development
Programs
Entrepreneurial
Medical Device
Tool Kit Day
Vine &
Venture Forum
Annual Biotech
Investor Conference
Biotech and
Medical Conferences
BioMatch
Entrepreneurial
Speed Dating
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Make the Connections
• Biomatch
– A dozen inventors “speed date” with a dozen
entrepreneurs
– Determine the best match for longer discussion
• Regional / National Events
– J.P. Morgan SF Healthcare Conference
– Sponsor start-up attendance at important regional
meetings
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JHTT Website
• Fully Searchable database Boolean, flexible
• Google and other search engine available
• http://www.techtransfer.jhu.edu/
– click “Search Available Technologies
• Contact licensing associate
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Johns Hopkins Technology
Transfer:
There’s an app for that!
NOW AVAILABLE!
Download from App store
Deal Process
Deal Terms
• Engage the assigned Licensing Associate
• Discuss deal terms
• Exchange term sheet
• Agree on deal terms
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Deal Process
Agreement
• Receive JHTT standard license agreement
with agreed terms
• Negotiate minor changes to JHTT Standard
Agreement
• Sign and Drive
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Technology Value Curve
IDEA
PROOF OF
CONCEPT
PROTOTYPE/
CLINICAL TRIAL
COMMERCIAL
LAUNCH
MARKET
EXPANSION
Commercialization Stage
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Common Deal Terms –
Required provisions
• Each deal depends on many factors
• Required provisions
•Licensee covers patent costs
•JHTT Controls prosecution
•Licensee Indemnifies JHU
•Sublicensing consideration
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Common Deal Terms –
Typical Provisions
• Typical Provisions:
•Up front licensing fee
•Annual fee/Minimum Annual Royalty
•Milestone Payments
•Patent Issuance
•IND
•Clinical Trials
•Regulatory Approval
•First commercial sale, and sales milestones
•Running royalty on sales
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Startups
• Since This Century Began (1/1/2000):
– 66 JHU Startups
– Startups received >$476 M in funding
– FY08 record funding year – >$76 Million funding
to 12 startups
– FY11 record number year – 19 new ventures
• Director of Ventures
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Startup Deal Terms
• Startup deals can differ substantially from
established companies
• Cash is king, startups have little
• Often need to defer costs
• Rules, however, prohibit funding startup expenses
• Patent costs already incurred can be deferred
• New costs must be paid when incurred
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Startup Deal Terms
• Be creative
• Equity
• Change of control premium
• Low cost up front and annually
• Payments on value inflection
• Sublicense and cash out fees
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Tech Transfer Dilemma
Happy Faculty
Happy Financial Folks
• $$$ Not necessarily priority of faculty
• But important to University
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Who Will Be The Best Partner?
• Most likely to bring a good product to
market
• Best relationship with the University
and faculty member
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Other Options For Working With
Technology/Inventors
– JHTT is the Hopkins
business concierge
providing personalized
service into JHU business
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Industry – Faculty Relations
Joint Development
Collaborative Research
Consulting
Sponsored Research
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Bringing the Benefits of Discovery to the World
LOWER SHORE TECHNOLOGY
TRANSFER SYMPOSIUM
MAY 23, 2012
Questions?
Wesley D. Blakeslee
Executive Director
Johns Hopkins Technology Transfer
410-516-8300
wdb@jhu.edu