Transcript Information Meeting on Intellectual Property Financing Organised by the World Intellectual Property Organisation (WIPO) A Case study of Biotechnology: How to use.

Information Meeting on Intellectual Property Financing
Organised by the World Intellectual Property Organisation (WIPO)
A Case study of Biotechnology: How to use Biotechnology for
Economic Development
Theme 3: IP Financing in the Field of
Patents
By Iain C Shirlaw
Geneva, Switzerland, March 10, 2009
Introduction to Scotland
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Population 5.1m
North West edge of Europe
Respect for Education
14 Universities
Produces 1% of world’s
published research
Graduation rate of 39.2%, from
first degrees * (#1 in OECD)
620 Life Science companies
31,000 Life Science jobs
In 2007, 20 new Life Science
companies formed
£3 billion contribution to the
economy
Scotland’s Biotechnology Fame
Dolly the Sheep, and her lambs at Roslin
Time line
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1413 St. Andrew’s University
1495 Aberdeen Medical school
1776 Adam Smith, “Wealth of Nations”
1975 Scottish Development Agency
1979 Venture Capital - Biogen
1981 Spin outs Monotech and Bioscot
1998 Pharmaceutical Proteins IPO
2004 Cyclacel first European Biotech
$100m funding
• 2007 Haptogen acquired by Wyeth
Fashions in IP development
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Universities as source of learning and
publishing.
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Tech transfer and academic consultancies
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1971 Heriot Watt Research Park – first science park in
Europe
Spin outs
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Prof Stenlake’s Atracurium, £29m
Science Parks
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1980 MRI scanner first demonstrated Aberdeen, but GE /
Fonar fought patent for use of MRI in cancer detection
Aurora
Drug Development Scotland
Cyclacel
Specialist IP asset developers and funders
assets
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British Technology Group
IP 2 IP
Braveheart
Exomedica
1980’s Life Science investing
Corporate
Legacy: Glaxo, Roche,
Organon
– Coats Paton, Monotech
• Public Sector
– Scottish Development
Agency:
• Inveresk, Cruachem,
Bioscot
• Venture Capital:
– 3is, Apax, Transatlantic
• Angel investors:
– Biocure, Bill Bruce
Financing Sources
• Scottish Enterprise
– LSBAS, Spin outs
• IPOs
– PPL, Scotia, Scotgen, Biocure,
Shield
• VC Funds
– Scottish Equity Partners
– Albany Ventures
• Angel Syndicates
– Archangel
– Braveheart
Government Investment Strategies
Scheme
Bridging
Research
SMART
Development
Enterprise
fellowships
Scottish
Government
support
SMART for SMEs
Fund Size
Investment Range
% Life Sciences
£7m p.a.
Up to £600k (35%
of total
64%
(£32m over 5 years)
£2m
£11m
~ £100k
£100k - £1m
32% (£13m)
£10m
£500k - £2m
28% (£5m)
SE Investing
Entrepreneurship
Proof of
Concept
New company
Seed Fund
Spin out
Co-investment
Angel investors
Venture Fund
Scottish Seed Fund
Scottish Coinvestment Fund –
April 2003
Scottish Venture Fund
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Scottish Enterprise invests approximately £25m p.a. - around 30% of that is in Life Sciences.
All funds invested are matched by private sector funding on at least 1:1
21st Century Development Frameworks
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Public Sector Initiatives
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Angel Syndicates - Over 30
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SMART
Enterprise fellowship
Proof of Concept
Start-up
Co-Investment Fund
Venture fund
Gateway Advisory Services
Life Science Business Advisory group
Life Science Alliance
Bio Industry Association Scotland
Nexxus Bioscience Network
Archangel
Braveheart
Highland
Tricap
Alybyn
Discovery
Clusters
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Edinburgh Science Triangle
Pentlands Science Park
Edinburgh Technopole
Roslin Bio Centre
Bio Campus
Heriot Watt Research Park
West of Scotland Science Park
Nova Technology Park
City Science Glasgow
Lanarkshire Medi-park, Strathclyde Business Park
Scottish Enterprise Technology Park, East Kilbride
Dundee MediPark
Dundee Technology Park
Scottish Crop Research Science Park
Dundee Technopole
Aberdeen Science & Technology Park
Foresterhill
Edinburgh Bio Quarter - $1 billion to create one of world’s
finest Biomedical centres
The Next Issue - The funding gap
International Commercial Skills
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VALUE BENCHMARK
Business
Building
Skills
Scientific and Technical Skills
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Technical
Proofs: Concept
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SMART
Product
Definition
Market
Acceptability
Client
Orders
Business
Capability
Company
Growth
Corporate
Expansion
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Enterprise Proof of
fellowship Concept
University Spin out
Seed Technology
Fund Investors
Start-up
CoSE Venture
Angel investment
Fund
Fund
Active
Investment
Private
Equity
Establishment
Growth
National
Corporate
International
Conclusion
Progress IP from Upstream to Downstream to capture most economic value
Scientific IP
Invention
Development
Market
Produce
Create Business
Attract Investment
Grow Business
Internationalise
Corporatise
One of a nation’s key assets is the ability of its people to invent, develop
and commercialise. Scientists who are awarded government grants also
have a responsibility to recognise the Value of IP to the economy and
health and welfare of its people
Biotechnology can be a very significant contributor to both local
economic well being, and worldwide health improvements.
Iain Shirlaw
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Contact details:
Active Investment Partners
Management Services
Consulting
Investment
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[email protected]
With Special Thanks and Acknowledgement in the preparation of this
presentation to Alan Muir, Bill Harris, Pat Mc Hugh and Michael Cannon