Connecting universities with the commercial sphere ****************************************************************************************** * Technology Transfer people are essential to connecting universities with the commercial ****************************************************************************************** ****************************************************************************************** * An interview with Sharon Finch ****************************************************************************************** Sharon Finch is an expert in Technology Transfer (TT) who spoke recently at Charles Univer subject of bridging researchers and universities and the commercial sphere through so-call Technology Transfer Offices. She is the founder and CEO of Medius Associates, a boutique dedicated business development company. Sharon has worked in business development since joining the industry and has more proven experience. With a comprehensive knowledge of business development and licensing, s experience of identifying, creating, implementing and directing international business dea She was interviewed by PhD student at the Faculty of Science and technology scout Jana Pil There are a number of definitions of Technology Transfer that intersect in different aspec define TT? “I would describe TT as taking an innovation – in life-sciences it could be a new process, medical device, diagnostics – from its originator through partnership to the commercial sp marketplace. In life-sciences we are always trying to improve the quality of people’s live almost always driven by therapeutic need. Most scientists are able to identify gaps in the are able to come up with innovative solutions to try and solve the problem. On the most el TT is about problem solving. The most important thing is that somebody who is highly skilled in the art has used their and experience to create something new. From a university perspective, universities often resources to take technology forward into the commercial sphere. There may be regulatory hurdles, developmental hurdles and there will be risk: a risk that technology will not prove robust enough in the marketplace. So consequently, partners - wh provide some of the skills or know-how that universities lack - are needed to act as a bri connect the university with the commercial sphere. There is a difference in the strategy a and the attitude and the outcomes – so a translational effort is needed and this is the en which TT people work.” How difficult is it to get something on the market? “This is a technology driven situation – if the technology and science are not sound it wi successful. The TT person has to look at the asset on the development from all perspective consider how to identify the best opportunities: an opportunity may be financial, commerci and it is up to the TT person to get potential partners on board. This kind of translational work is only successful when you introduce the originator or cr your leading scientist - to the eventual partner. And this is where we get a fascinating b science and interpersonal skills. It takes a great deal of trust for the scientist to beli commercial partner or a company will do his invention justice. It takes a lot of understan company and respect for the original idea, knowing at the same time that some changes will the product will have to be changed in some ways to make it more viable for the market. Along the way there will be a development stage; there will be a lot of people that need t skills to the project. And there will be a scientific part. You have market people looking best market attractive form – you will have IP people looking at how to best protect the i competition that is very important because without having some degree of protection on the – the company investing will not be able to recover its original investment. If we are loo pharmaceutical product where the investment may be a billion dollars it becomes very impor the IP is secure.” What are other aspects that are important? “There is a lot of interesting discussion along the way between the parties agreeing to th negotiating what the remuneration package should be for the inventor or all the inventors´ in some cases. So again, getting a key understanding to the finance behind the opportunity development costs will be, what the market potential might be and then to determine the ov the project and then agree on equitable share between the parties is one of the most impor Both parties have to feel respected and rewarded, to feel really motivated to make it work relationship is going to have to weather changes, personnel on either side may change, the in market circumstances, the technology itself may not perform as originally anticipated, of fine points where a deal can come undone. And this is where trust and the quality of th is very important. Both parties have to want to get the project all the way to the end. If a pharmaceutical product that could be 12 years in development, it is understandably quite business.” I often hear from scientists that they have no time for TT. Is that the case? “Well TT is not their main focus or their role. The same thing happens actually with pharm because with lots of clinicians or regulatory people, TT is not their main job either. But become so important to pharmaceutical companies that they too recognize that without exter that they would not be successful. There are reward schemes in place in different universities and I am not familiar of with here. It comes down almost more to a personal issue. Some scientists get on board because that their invention can have such an amazing impact that it becomes quite a personal crus share it with others and to get it professionally developed and released. There can be a quick ‘birth’ or development of a project but it depends on the level of tr TT agreement with the third parties in place. Having said that, a close working relationsh scientists and TTOs (Technology Transfer Offices) help bring TT people far more up to spee technology in question. So in that situation again if there is a good trust with the TTO they can take on quite a responsibilities for the scientists. I think that many universities that we now work with the importance of collaborations with industry. One of the facets we have seen most recently in technology deals with particularly life-sc is that when they have a good working relationship with the team, it opens the way to futu Maybe you have one initial deal but if the relationship is good, the company will be back. Why did you start dealing with TT yourself? What was your original profession before you s TT full-time? “I left university with a degree of chemistry and started working in a multinational. I wa IP department of the Wellcome Foundation Ltd. I had a choice to work as a patent agent or agreements. I chose to work on agreements that meant that my job was to sit alongside our to put in place collaborations with universities whether it was with visiting professors o studentship agreements. I really enjoyed the challenge of working with so many different p it is delivering a human skill you cannot give to a computer and tell it to fix it. It was important to gain the trust of the scientists who often say it is their job to do t not to work on external collaboration. An interesting deal I worked on first was collabora university that led to an actual drug to be launched on the market. There were royalties paid to the scientists and royalties paid to the university. Their pr successful and the deal worked really well. Later, I picked up a law qualification and con this field. It is great fun because you constantly face new challenges. No two deals are e two companies are the same, so you need to be constantly creative. Plus the background is science is always changing, legal issues are changing, IP methods are changing. So you hav hard. And I really enjoy it.” What contracts or deals are you the proudest of? “It is difficult to say because they have been so many. Some of what we do is due diligenc of it is expert witness work where we are trying to resolve situations that go wrong. Some investments, it is really hard to choose one.” Do you enjoy the negotiation process? Doesn’t it ever descend into a fight between two opp “It should never be like that. Even negotiation needs to be considered a form of problem s parties want to get a finished product onto the market and consequently when problems aris to find ways to resolve it. If you come up with the fair deal that is acceptable for both should not be any contention.” And how many deals did you see through to a successful conclusion? “I do not keep my statistics, but my partner does and recently he was speaking about aroun but there are no two deals the same, some are bigger, some are smaller – but sometimes you amount of time over both.” How long does it take you to complete a deal on average? “From signing a CDA (confidential disclosure agreement) on average it may take around nine purchases, the very simplest, can take just a small number of days. Of course a long-term a long duration, working closely together takes time to establish...” Is there a standard series of steps most deals follow in getting a pharmaceutical product the market? “Sometimes innovations may require only a very small number of steps, but they do really n real things. Not everything can be like the CRISPR editing or for example Roches PCR paten just changed diagnostics. Some of them will be smaller and incremental. I think one of the you know that you made a breakthrough, and recognize that something is quite innovative. I first step would be to talk to your TT people and just ask them if there is a market need. A straightforward internet search can also establish that. The next question then if there that has a potential value is how best to protect that concept – it may be patentable or n you can have a trade secret that works perfectly for Coca-Cola for so many years, so you h an idea about how best to protect it. The key thing about protection is not to publish bef publication can help destroy the novelty of an invention. It may be that patenting is not forward but at least to stop before any publications to give that consideration is importa The next step is to consider who is an appropriate partner to talk to: and again the key i closely with TT people. Finding the right partners – engagement process is quite slow: you discuss the invention, you may sign a secrecy agreement, you have some more meetings, it d opportunity to decide if you like those people and you like to work with them and you trul value of your technology. That kind of judgement, personal judgement you bring is very imp never good to work with somebody you do not trust. It is a bit like finding a life partner Charles University has The Center of Knowledge and Technology Transfer (CPPT UK) that serv is becoming increasingly better known among researchers. Which way of collaborating with a is the best? “Many people say that heading a TTO is almost like being the CEO of a small company. Becau understand finances, marketing, production, manufacturing, development, research, regulati to know a lot about many things. I can personally say that every single part of the proces changing. The hardest thing, the most important thing is to know when you reached the limi knowledge, to know when you are in need of an expert, a guidance and an advice. This is a for biotech companies as well as universities. In a major multinational you have everybody such as tax advisors, lawyers, accountants, an support you only a phone call way. In a small company or in a university – you may have in with that straight away. They will be happy to help you that is their job, and the TTO als experience having worked on many different deals, faced pitfalls and come through. If you good TT team, it makes all the difference.” Edited by Jan Velinger Published by UNIMEDIA