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Archive for September, 2008

Which Universities Have the Most Successful Tech Transfer Programs?

Written by on Tuesday, September 16th, 2008

Forbes published an interesting article last week which named the universities in this country with the most successful tech transfer programs in terms of rate of return (“ROI”), according to a 2006 survey.

At the top of the list was New York University.  Forbes reported as follows:

[New York University] generates $157 million in research-related income on $210 million in research and development (R&D) expenditures–tops the list with a 75% yield. . . . While Remicade has generated the bulk of NYU’s licensing income in the last decade, some 20 other biomedical technologies kick off royalties as well–and 15 more are in clinical trials. . . . Other hot areas include computer science, agriculture and nanotechnology. NYU also takes stakes in start-ups, including Perceptive Pixel, developer of the touch-screen map that CNN uses in its election coverage.

Next on the list was Wake Forest University, which had a 41% ROI.  According to Forbes, Wake Forest’s success was due in part to several patents, which generated more than $1 million in licensing revenue and the development of several key technologies, including the V.A.C. System, a mechanical vacuum technology that promotes wound-healing, which was licensed to San Antonio-based Kinetic Technologies, and a virtual endoscopy machine, which was licensed to GE Medical, a unit of General Electric.

Other successful programs included the Stevens Institute of Technology, Ohio University, Brigham Young University, and University of Rochester.

Interestingly enough, the University of California System (which includes all of its various institutions and campuses around the state) only came in fourteenth on the list, even though it reportedly generates more in total revenue from research than all other U.S. universities.  According to Forbes, out of the University of California System’s $48 million licensing program, about $24 million was incurred from royalties paid on a mere five patents.

The full Forbes‘ list of the top 15 most successful tech transfer programs in 2006 is as follows:

1. New York University, $210 million in research expenditures, $157 million in research related income, 75% yield

2. Wake Forest University, $146.3 million in research expenditures, $60.5 million in research related income, 41% yield

3. Stevens Institute of Technology, $28 million in research expenditures, $4.56 million in research related income, 16% yield

4. Ohio University, $24 million in research expenditures, $3.26 million in research related income, 13% yield

5. Brigham Young University, $26 million in research expenditures, $3.07 million in research related income, 11.7% yield

6.  University of Rochester, $355 million in research expenditures, $38 million in research related income, 11% yield

7.  University of Minnesota, $596 million in research expenditures, $56 million in research related income, 9.4% yield

8. University of Florida, $459 million in research expenditures, $42.9 million in research related income, 9.3% yield

9. Stanford University, $699 million in research expenditures, $61.3 million in research related income, 8.7% yield

10. Northwest University, $348 million in research expenditures, $29.9 million in research related income, 8.6%

11. Mount Sinai School of Medicine, $269 million in research expenditures, $20.1 million resarch related income, 7.5%

12. University of Massachusetts, $409.9 million in research expenditures, $27.2 million in research related income, 6.7% yield

13.  University of Utah, $246.5 million in research expenditures, $16.3 million in research related income, 6.6% yield

14.  University of California System, $3.04 billion in research expenditures, $193.4 billion in research related income, 6.4 % yield

15.  University of South Alabama, $20.6 million in research expenditures, $1.2 million in research releated income, 5.9% yield

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Which Universities Have the Most Successful Tech Transfer Programs?

Written by on Tuesday, September 16th, 2008

Forbes published an interesting article last week which named the universities in this country with the most successful tech transfer programs in terms of rate of return ("ROI"), according to a 2006 survey.

At the top of the list was New York University.  Forbes reported as follows:

[New York University] generates $157 million in research-related income on $210 million in research and development (R&D) expenditures–tops the list with a 75% yield. . . . While Remicade has generated the bulk of NYU’s licensing income in the last decade, some 20 other biomedical technologies kick off royalties as well–and 15 more are in clinical trials. . . . Other hot areas include computer science, agriculture and nanotechnology. NYU also takes stakes in start-ups, including Perceptive Pixel, developer of the touch-screen map that CNN uses in its election coverage.

Next on the list was Wake Forest University, which had a 41% ROI.  According to Forbes, Wake Forest’s success was due in part to several patents, which generated more than $1 million in licensing revenue and the development of several key technologies, including the V.A.C. System, a mechanical vacuum technology that promotes wound-healing, which was licensed to San Antonio-based Kinetic Technologies, and a virtual endoscopy machine, which was licensed to GE Medical, a unit of General Electric.

Other successful programs included the Stevens Institute of Technology, Ohio University, Brigham Young University, and University of Rochester.

Interestingly enough, the University of California System (which includes all of its various institutions and campuses around the state) only came in fourteenth on the list, even though it reportedly generates more in total revenue from research than all other U.S. universities.  According to Forbes, out of the University of California System’s $48 million licensing program, about $24 million was incurred from royalties paid on a mere five patents. 

The full Forbes‘ list of the top 15 most successful tech transfer programs in 2006 is as follows:

1. New York University, $210 million in research expenditures, $157 million in research related income, 75% yield

2. Wake Forest University, $146.3 million in research expenditures, $60.5 million in research related income, 41% yield

3. Stevens Institute of Technology, $28 million in research expenditures, $4.56 million in research related income, 16% yield

4. Ohio University, $24 million in research expenditures, $3.26 million in research related income, 13% yield

5. Brigham Young University, $26 million in research expenditures, $3.07 million in research related income, 11.7% yield

6.  University of Rochester, $355 million in research expenditures, $38 million in research related income, 11% yield

7.  University of Minnesota, $596 million in research expenditures, $56 million in research related income, 9.4% yield

8. University of Florida, $459 million in research expenditures, $42.9 million in research related income, 9.3% yield

9. Stanford University, $699 million in research expenditures, $61.3 million in research related income, 8.7% yield

10. Northwest University, $348 million in research expenditures, $29.9 million in research related income, 8.6%

11. Mount Sinai School of Medicine, $269 million in research expenditures, $20.1 million resarch related income, 7.5%

12. University of Massachusetts, $409.9 million in research expenditures, $27.2 million in research related income, 6.7% yield

13.  University of Utah, $246.5 million in research expenditures, $16.3 million in research related income, 6.6% yield

14.  University of California System, $3.04 billion in research expenditures, $193.4 billion in research related income, 6.4 % yield

15.  University of South Alabama, $20.6 million in research expenditures, $1.2 million in research releated income, 5.9% yield        

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South San Francisco-based Novacea Merges with Transcept Pharmaceuticals

Written by on Friday, September 5th, 2008

South San Francisco-based Novacea announced its merger this week with Transcept Pharmaceuticals. 

The San Francisco Business Times reported on the terms of the deal as follows:

Under terms of the all-stock deal, Novacea . . . . will issue new shares of its common stock to Transcept stockholders, with Transcept stockholders owning 60 percent of the combined company. The newly issued shares will be based on an exchange ratio that will be determined before the transaction closes by early next year. . . . The name of the merged company, which will have cash of $88 million to $92 million, will be changed to Transcept Pharmaceuticals.

What prompted this deal?  According to the In Vivo Blog, it was the failure of Novacea’s new anti-cancer drug Asentar in trials, which left Novacea with a significant amount of cash on hand and no product.  In Vivo Blog reported:

Since November of 2007, when it stopped its pivotal trial of its anti-cancer drug Asentar because more people were dying on the drug than in the control arm, the writing was on the wall for the company. With something like $90 million in cash and marketable securities as of its last 10Q, Novacea was more valuable as a bank and a listing than as a company.

Will the deal prove to be a win-win for both Transcept and Novacea shareholders?

Well, that’s not entirely clear at the moment. 

According to the San Francisco Business Times, the deal is mutually beneficial to both sides, as it gives Novacea shareholders a "life raft" and provides Transcept a manner by which to go public and fund the final stages of its sleeping drug Intermezzo.  In contrast, the In Vivo Blog expresses some doubts on the outcome of the merger, stating as follows: 

 Whether that’s the right thing for investors is another question: analysis from our colleague Chris Morrison shows that the average share price decline for reverse-merged companies was about 40%, worse even than the declines from IPOs or the biotech index in general. . . .

Thus, while the deal may benefit Novacea shareholders in some ways, it may also have some negative consequences for shareholders on both sides of the transaction.  Only time will tell as to whether or not this deal proves to be a good one for both parties.

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