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Commercializing innovative bio-science research and technology at University College London

UCL BioMedica Plc, the wholly-owned technology transfer arm of University College London in the UK, is the result of a merger between UCL Ventures and Freemedic Plc, the technology transfer arm of the Royal Free Medical School, London which merged with University College London in 1998. The aim of UCL BioMedica is to generate income and create value for UCL through commercial exploitation of bioscience research at UCL and its associated Institutes.

The focus at UCL BioMedica has changed over the last five years, Anne Lane (Executive Director) and Louise Sarup (Marketing and Business Development Manager, now at DeFacto) explained to Partnering Focus. Previously, the company focused on spin-outs, but as the amount of venture capital fell at the end of the 1990s, the centre of attention moved towards licensing and collaboration agreements (development contracts with an option to license) to provide better short term income.

UCL BioMedica is responsible for commercializing research across the whole of UCL, with an aim to consolidate technology transfer in the postgraduate institutes and departments with their own technologytransfer officers. The company prides itself that all its officers have both scientific and commercial backgrounds.

On a practical level, academics present potential inventions to UCL BioMedica’s Business Development Managers (BDM) using invention disclosure forms. The BDM then presents a one-page report to the weekly team meeting to assess the invention for its market potential and IP protection. The team has access to a scientific advisory board, and can refer difficult decisions to the UCL BioMedica Board. Projects that receive the go-ahead then receive more in-depth analysis, and the team plans patent strategy and development work. The UCL BioMedica development strategy is to keep projects in-house as long as possible, for example up to preclinical or proof of concept stage, and to ‘bundle’ projects with other universities – both of these tactics build as much value as possible. The licensing team will then target companies for licensing agreements, or set up a spin-off company to exploit the technology or product. Under the revenue sharing scheme, individuals get a percentage of the income, and a percentage goes to UCL BioMedica, the University, and the academic’s department.

UCL BioMedica has around £1.5 million in the bank, and hopes to be self sufficient in five years. Over the next five years, the company also hopes to be known within the University as ‘worth coming to’, and to be the catalyst for at least five substantial licensing deals and one to two spinouts per year.

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