Making your innovation our business.
NEW COMMERCIALIZATION TEAM MEMBER!
In July, the WBBA bid farewell to Commercialization Associate Drew McUsic, who took a position with an up-and-coming diagnostics company in Ann Arbor, Michigan. Moving swiftly into Drew’s role was Brady Ryan, a recent biology graduate of Willamette University, who interned with the WBBA over the summer and started in the Commercialization Associate position in August. Brady will support the WBBA Commercialization Team to assist early-stage innovators as they seek to raise capital to develop and launch biomedical products. Brady is also Project Manager for WINGS. You can reach him at firstname.lastname@example.org or 206.456.9571.
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COMMERCIALIZATION PREPS PRESENTERS FOR LIFE SCIENCE INNOVATION NW
Life Science Innovation Northwest (LSINW) is the WBBA’s annual marquee event, and the largest life science conference in the region. Companies, entrepreneurs and research groups can apply to present at LSINW on podium, with a poster, and/or during the Speed Dating session with investors and strategics. It is the job of the WBBA Commercialization Team to prepare the selected groups for their presentations at the conference. For the first time ever, the WBBA offered three coaching sessions for all categories of presenters in 2012 – all at no cost, and with the volunteer support of members of the WBBA’s Commercialization Committee.
Selected podium presenters had the chance to practice their presentations at K&L Gates on June 5th. Nine presenters took advantage of this opportunity, and received valuable feedback from a number of local industry experts. Speed daters were invited to practice their five minute pitches one-on-one with coaches at the Agora Conference Center at the WBBA on June 27th. The practice pitch session, generously sponsored by Wilson Sonsini Goodrich & Rosati, was attended by 14 willing speed daters and was followed by a catered networking reception. Finally, 23 poster presenters attended a bustling practice session hosted by Knobbe Martens on July 2nd. Presenters pitched to and received tips from numerous volunteer coaches, and then enjoyed a wine tasting and networking reception. The WBBA would like to thank all of the volunteer commercialization coaches who donated their time and expertise, as well as K&L Gates, Wilson Sonsini and Knobbe Martens for sponsoring the coaching sessions. In addition, we extend our congratulations to all of the LSINW presenters!
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MULTINATIONAL STRATEGIC C.R. BARD VISITS DURING AUGUST VIP FORUM
During WBBA’s Venture Investment and Partnering (VIP) Forums, venture investors and multi-national strategic partners (VIPs) travel to Seattle to participate in two related events. First, the VIP gives an overview of their firm at a Plenary Session and Networking Reception open to the life science community. More than 500 life science professionals have attended these sessions in the past year! Second, the VIP participates in a customized, day-long schedule of 1:1 meetings with the region’s most promising life science companies, entrepreneurs and researchers, who are pre-selected during an application process. Since this program began in 2009, more than 100 local companies and research groups have met 1:1 with visiting VIPs, and multiple follow-up discussions are ongoing.
Four VIP Forums to date in 2012 have featured Bristol-Myers Squibb (BMS) on January 12-13 (slides linked here), H.I.G. BioVentures on March 7-8 (slides linked here), MedImmune Ventures and MedImmune Partnering, who jointly visited on May 23-24 and whose slides are linked here and here, respectively, and most recently, C.R. Bard, on August 6-7.
Four executives visited Seattle from C.R. Bard’s corporate headquarters in New Jersey for VIP Forum: Dr. John DeFord, Senior VP for Science, Technology and Clinical Affairs; Luke Harada, VP of Business Development; David Brin, VP of R&D and based in Boston; and Dr. Stefan Kraemer, VP, Corporate Medical Affairs and a former Seattle medical device leader as founder of EndoGastric Solutions and co-founder, President and Chairman of WINGS.
At the Plenary Session on August 6th, Dr. DeFord spoke about Bard’s history, corporate structure and partnering interests. Dr. DeFord has oversight of Bard's Research and New Product Development programs and oversees Clinical Affairs at Bard. He joined Bard in January 2004 from Early Stage Partners, a venture capital fund based in Cleveland, OH, where he served as Managing Director, responsible for life sciences investments. Dr. DeFord holds 13 patents and is the author of numerous peer reviewed scientific papers and book chapters. He received B.S. and M.S. degrees in Electrical Engineering, and a PhD in Electrical and Biomedical Engineering, all from Purdue University.
Luke Harada spoke about Bard’s business development strategy. Mr. Harada is responsible for assisting Bard’s Divisions in executing business development transactions, including stock acquisitions, asset acquisitions, licenses, development agreements, strategic supply agreements and minority equity investments. He joined Bard from Mitsui & Co. Venture Partners, where he was an Investment Partner focused on medical device investments. Luke spent 8 years in Johnson & Johnson’s Medical Device & Diagnostics Group where he served as Vice President of Business Development at Cordis Corporation, Biosense Webster Inc., and Ortho-Clinical Diagnostics, Inc. He previously spent 10 years as an investment banker with Merrill Lynch & Co’s. New York and Tokyo offices. Mr. Harada received an A.B. in Economics from Harvard University and a JD/MBA from Northwestern University School of Law and the J.L. Kellogg Graduate School of Management.
The next VIP Forum, to be held December 5-6, will feature multinational strategic partner Shire Pharmaceuticals. Representatives from Shire will present at a Plenary Session and Networking Reception, and meet individually with pre-selected companies. If you are interested in a private meeting with Shire, please view their therapeutic interest areas here. Applications are due via email to email@example.com by November 1st.
VIP Forums are generously supported by Cooley LLP, the Life Sciences Discovery Fund, PwC, and Knobbe Martens. If your organization is interested in sponsoring VIP Forums, information can be found in the WBBA’s Sponsorship Prospectus.
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WINGS ANGELS CONTINUE TO INVEST IN WASHINGTON’S MED TECH STARTUPS
WINGS, The Washington Medical Technology Angel Network is a joint initiative of WBBA and the medical technology community. WINGS’s mission is to close the gap in early stage funding to accelerate the translation of medical technology innovation from the lab bench to patients. Since the inception of WINGS, 31 companies have been selected to present at ten Investor Meetings from 123 deals screened. To date, WINGS is responsible for more than $4.4 million of investment in ten Washington med tech companies. That represents about a quarter of $17 million raised by these ten companies in the past 2+ years.
About a third of the companies that make it through screening and present to the WINGS investors receive some investment. WINGS held its third Investor Meeting of 2012 on July 17th with a company update from Impel NeuroPharma, and four company presentations from Innovative Trauma Care, GestSure, Kulira Technologies and Aerin Medical.
The WINGS network is looking forward to its next meeting on October 16th. For more information on how to apply to present for future meetings, to become a WINGS investor or to sponsor WINGS, visit www.medtechwings.com or email WINGS Project Manager Brady Ryan at firstname.lastname@example.org or WINGS Managing Director Christiana DelloRusso at email@example.com.
WINGS is grateful for the generous support of its sponsors: WBBA, Perkins Coie, WRF Capital, University of Washington Center for Commercialization, Silicon Valley Bank, SonoSite, Stratos, Varitrex, Philips and Physio-Control. We welcome our two newest sponsors, JP Morgan and the Coulter Foundation at the University of Washington.
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NON-DILUTIVE CAPITAL: SBIR & LSDF UPDATES
Have a Phase I SBIR or STTR grant? The NIH wants to help you get a Phase II award!
The National Institute of Health's SBIR/STTR Niche Assessment Program is a nationwide program funded by NIH to help jump-start an SBIR/STTR Phase I awardee's commercialization efforts.
Technology Niche Analyses® (TNA®) are provided by Foresight Science & Technology for one hundred twenty five (125) NIH SBIR/STTR Phase I awardees (FIRST COME , FIRST SERVED!). These analyses assess potential applications for a technology and then for one viable application, it provides an assessment of the:
- needs and concerns of end-users;
- competing technologies and competing products;
- competitive advantage of the SBIR/STTR-developed technology;
- market size and potential market share (may include national and/or global markets;
- barriers to market entry (may include but is not limited to pricing, competition, government regulations, manufacturing challenges, capital requirements, etc.);
- market drivers;
- status of market and industry trends;
- potential customers, licensees, investors, or other commercialization partners; and,
- the price customers are likely to pay
Each participant receives an in-depth report of Foresight's findings. Often the small businesses can use this information in their commercialization plans which are part of their Phase II applications. For more information, see Notice NOT-OD-12-146 that was placed in the NIH Guide for Grants and Contracts on August 31, 2012.
NIH SBIR/STTR Program
Office of Extramural Programs
Office of Extramural Research
$10 Million in Contract Funding Available for Innovative Small Businesses in Cancer Research & Technology Development
The National Cancer Institute has released $10 million for 13 new contract funding opportunities to support cancer research and technology development in key emerging areas of need. Applications are due on Tuesday, November 13th. The NCI solicits proposals for these SBIR contracts only once annually, so don't miss out!
**A team from the NCI will be at the WBBA on Thursday, October 18th to speak more about this program, about SBIR grants in general, AND TO MEET 1:1 WITH POTENTIAL APPLICANTS! Please watch your email for event details coming soon!**
The FY2013 NIH/CDC SBIR contract solicitation provides funding opportunities to small businesses to support the research, development, and ultimately commercialization in the following areas of priority to the NCI:
Therapeutics and Diagnostics
- 313 RNAi Cancer Therapeutics using Nanotechnology
- 315 Development of Companion Diagnostics: Enabling Precision Medicine in Cancer Therapy
- 316 Development of CTC Isolation Technologies Enabling Downstream Single Cell Molecular Analysis
Advancing Cancer Research
- 314 Development of Human Tissue Culture Systems that Mimic the Tumor Microenvironment
- 319 Technology to Generate Anti-Peptide Capture Reagents for Affinity-Enriched Proteomic Studies
- 320 High Quality Cancer-Related Standards for Metabolomics Research
- 321 Chemically Defined Glycan Libraries for Reference Standards and Glycomics Research (Joint NCI-NIGMS Program)
- 322 Real-Time Integration of Sensor and Self-Report Data for Clinical and Research Applications
Imaging and Radiation Therapy
- 323 Development of Radiation Modulators for Use During Radiotherapy
- 324 Novel Imaging Agents to Expand the Clinical Toolkit for Cancer Diagnosis, Staging, and Treatment
- 325 Innovative Radiation Sources for Advanced Radiotherapy Equipment
The new funding opportunities include two NIH Technology Transfer (TT) inventions. The goal of each SBIR-TT topic is to identify a small business to work under research and commercialization licenses and perform the necessary R&D to advance the technology towards commercialization with SBIR funding.
The FY2013 technology transfer contract topics are:
- 317 Wound Healing Preparations Incorporating Nitric Oxide-Releasing Materials
- 318 Test to Predict Effectiveness of Docetaxel Treatment for Prostate Cancer
Learn more about the NCI SBIR Development Center Programs and these contract funding opportunities.
If you have questions about any of the topics or general questions on contract administration, please contact:
Ms. Anita Hughes
Phone: (301) 435-3805
Funding for Small Business Biology Research From the National Science Foundation
The Small Business Technology Transfer (STTR) program supports technological innovation in the private sector. The program supports proposals that use a biologically-based approach, such as synthetic biology, systems biology, metabolic engineering, proteomics, bioinformatics, and computational biology, to address business opportunities in key industry sectors including biomedical, biomanufacturing, and sustainable agriculture. Letters of intent are due November 20, 2012. The application deadline is December 20, 2012.
For more information, view the program announcement here.
Commercialization to Launch Internship Program to Match Grad Students/Fellows with Companies Seeking SBIR Grants
The Small Business Innovation Research (SBIR) grant program is a proven vehicle for supporting startup companies in the science and technology space. The WBBA recently received a grant from the Herbert P. Jones Foundation to instigate a pilot program that will match graduate students and postdoctoral fellows with grants experience to startup life science companies seeking SBIR funding. The selected students and fellows will undertake a paid internship to support the startup companies through the development, writing and submission of an SBIR grant application.
Companies and interns – look for the program announcement and application later this fall. In the meantime, if you are a WBBA-member company looking to submit an SBIR proposal in 2013, or are a graduate student or postdoctoral fellow interested in grant writing and working with an emerging life science company, please contact Christiana at firstname.lastname@example.org or 206-456-9560.
Life Sciences Discovery Fund Update
LSDF is now accepting pre-proposals from Washington for-profit and non-profit organizations for the following types of grants:
- Proof of Concept grants (up to $250,000 per award) to enhance the commercial viability of intellectual property developed by non-profit organizations or enhance the competitiveness of early-stage companies for private equity investment. (This grant mechanism combines the Commercialization and PreCede mechanisms offered in prior years.)
- Opportunity grants (up to $1.4 million per award) to fund extraordinary research and development proposals having the ability to significantly leverage LSDF dollars against those from other sources.
LSDF is implementing a new submission and review process for 2012-2013:
- Year-round application submission.
- Monthly pre-proposal reviews (including a presentation and interview for Proof of Concept applicants).
- Quarterly proposal reviews and awards by the LSDF Board of Trustees.
All applicants must submit a pre-proposal to be considered for a grant. Only a subset of pre-proposals will be invited to submit a proposal.
Up to $7,000,000 is available for award through June 2013, with no specific allocations or quotas by grant type (Proof of Concept vs. Opportunity) or applicant organization type (for-profit vs. non-profit). As awards are made, the remaining balance of funds will be available here.
SERVICE PROVIDERS - GET NOTICED BY LIFE SCIENCE COMPANIES!
Sponsor the WBBA’s Commercialization Programs
In 2012, the Commercialization Team is on target to provide consulting services to more than 90 new emerging life science companies, entrepreneurs and research groups. To date, the program has supported more than 160 life science startups as they sought advice on matters relating to company formation, intellectual property, capital sources, investor pitches, research studies and clinical trials, product design, development and manufacturing, regulatory strategy, accounting/finance, and management. Often these companies are in the very early stages of formation and development, and thus have no website or public presence.
We are offering service providers with expertise in these areas a unique opportunity to connect with these early stage companies we support. This exciting, win-win program offers service providers visibility and connection with these early stage life science companies, and at the same time, provides the startups and entrepreneurs with some crucial, initial services and information for no cost.
The Commercialization Team has created a Commercialization Resource Packet that includes a detailed Bio-Entrepreneur Startup Kit. The highlight of this kit is a Map to Financing that outlines the sources of capital available to life science startup companies, and explains the characteristics of successful fundees at each stage of fundraising. All groups that utilize our consulting program receive the Resource Packet and Kit. Your company can be featured in the Packet as a sponsor of the Consulting program. Your company one-pager will describe your area of expertise, service offerings and the offer of at least two hours of initial pro bono services.
We envision that more than 100 early stage life science companies will receive this packet, creating an instant connection to your unique services. For more information on this valuable opportunity, see the Commercialization Consulting Sponsorship, or contact Director of Commercialization Christiana DelloRusso. We’d like to thank and welcome the newest Commercialization Consulting Sponsor, the W.H. Coulter Foundation Translational Research Partnership Program within the UW’s Department of Biomedical Engineering. The Coulter Program is dedicated to improving human healthcare by supporting translational research in biomedical engineering that is progressing towards commercial development and clinical practice.
If you are a life science entrepreneur, researcher or company in need of pro bono consulting services and access to the Commercialization Resource Packet, contact us at email@example.com.
Sponsor the Commercialization Resource WIKI website: www.lifesciencestartup.com
This integrated resource for life science entrepreneurs and companies in Washington State provides prominent, year-long visibility to a multitude of audiences. And in July 2012, a new section of the wiki was launched with much fanfare! This new section covers all aspects of, and the multitude of resources available for, exporting life science products from Washington. The expanded content reflects the results of a grant project funded by the Washington State Department of Commerce in partnership with the UW Center for Commercialization and the Washington Global Health Alliance.
Sponsor the Wiki and have your company logo and link prominent on all pages of lifesciencestartup.com!
Are you forming a company, writing a business plan, or looking to raise capital? Or are you a WBBA member/consultant with years of experience commercializing medical products, writing successful SBIR grants or executing regulatory strategies? Check out lifesciencestartup.com, the WBBA-hosted wiki website full of resources and information for early-stage life science entrepreneurs AND for experts, mentors and service providers who have advice and expertise to contribute to the WA life sciences community. To suggest a new page or add content, just visit the site and create an account. And make sure to take a look at the new expanded section on Life Science Exporting!
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