Track B

B1 Driving Academic Innovation Through Systematic Startup Formation

Track: Startups and Gap Funding

Target Audience: All Audiences

Malcolm Skingle, CBE, D.Sc., Ph.D., GlaxoSmithKline

Carolyn Buser-Doepner, Ph.D., GlaxoSmithKline
Ida Deichaite, Ph.D., UCSD Moores Cancer Center
Catriona Jamieson, MD, Ph.D., USCD
Jay Lichter, Avalon Ventures

Pharmaceutical companies are constantly looking for effective ways to access and package university derived technology to develop new medicines. This session will describe a novel arrangement to accelerate technology transfer through systematic NewCo formation. Since 2011 GlaxoSmithKline plc (GSK) has been partnering with academic institutes to undertake collaborative drug discovery through the Discovery Partnerships with Academia initiative. To extend this model, GSK has entered into an innovative relationship with Avalon Ventures to progress ideas from academic groups though the establishment of jointly funded NewCos. This highly integrated arrangement maximizes the synergy between the dynamic small biotech environment and the long-term medicinal version of large pharma.  Avalon Ventures finds the technology, provides management and ensures the fledgling companies meet their milestones. GSK provides expertise in drug development and clinical testing which is often lacking in NewCos. The NewCos already in place cover a diverse range of therapeutic areas and are executed within the "incubator” of COI Pharmaceuticals in La Jolla, California. This approach increases the diversity of options that allows industry to work with academic groups to translate innovative ideas into medicines that benefit patients. The fund of up to $495 million aims to take university-derived technology into up to ten new startup companies. Join us to learn the benefits of this novel innovative arrangement from the perspective of the venture capitalist, the entrepreneurial academic and the pharmaceutical company.

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