Annual Report 2018/19 Commercialising technologies from UCL and its partner NHS trusts since 1993 £32Million Income

We’re proud to be part of UCL The Complete IP Innovation & Enterprise, bringing Commercialisation Solution to market world-leading, world- changing innovations that make a UCLB provides expert support that links the real and positive difference to university’s world-renowned research, 33 academics, faculties and NHS trusts with New UK Patent people’s lives. the outside world. Applications We have a long-standing tradition We deliver a comprehensive, end-to-end of working with the healthcare capability which includes: sector and over many years we • IP identification, assessment and have helped to achieve important protection breakthroughs, from new 300 • Creation and development of spinout discoveries to innovative companies Active Licences therapies, which have improved patient care. We work with • Securing IP licensing transactions with industry partners’ hospital staff across our UCL partner hospitals to support exceptional research and clinical Our experienced teams provide support throughout the whole IP commercialisation practice delivering social, health journey. 68 and economic benefits. Spinout Companies in This ranges from invention disclosure and the UCLB Portfolio Our NHS Trust partners include: proof of concept through to marketing, negotiation and access to the most suitable • University College Hospital financial assistance from internal and external sources. • Moor fi eld sE yeH ospit al

• Great Ormond Street Hospital for 210 Children Patent Families • The Royal Free London Hospital

34 Drug discovery projects in development as of July 2019

UCLB Annual Report 2018/19 | 1 Successfully nurturing potential

I’m delighted to report that 2019 was In addition, Echopoint Medical Ltd, which It’s been an exciting year for UCLB and the BioPharm team addresses the ‘grey zone’ in heart disease with continued development of the portfolio. One key area another year of great achievement for treatment and is a spinout from our Physical of strength at UCL is cell and gene therapy and that is UCLB. Building on the successful initial Sciences and Engineering portfolio, raised £2.8 evidenced by our current portfolio. The highlight of this is public offerings of three UCLB spinout million. the FVIII gene therapy developed by Professor Amit Nathwani at the UCL Cancer Institute. This was licensed to companies – Autolus, Orchard and Portico Ventures, a successful initiative that we BioMarin in 2013 by UCLB, and has shown amazing results Meira GTX – we have seen an increase piloted with Innovation & Enterprise in Computer and patient benefit in its clinical development, achieving in income to over £32 million, due to Science last year, has been introduced to other curative status. BioMarin has done an excellent job of departments. We have also expanded opportunities clinical development, naming the gene therapy VALROX. the partial realisation of our oavailable t aspiring social ventures at the The therapy has recently received marketing application shareholdings in these companies. university with a proof of concept acceptances from the European fund that you can read more about Medicines Agency and US Food and It has been a year of great variety too, with on the UCLB website. Drug Administration. We expect VALROX highlights ranging from spinout fundraising to social to receive marketing authorisation by the ventures. Spinout Quell Therapeutics, for example, I’m looking forward to seeing FDA and EMEA in Q3 2021 and will be raised £35 million in series A financing and how the many ventures that we available to benefit haemophiliacs assembled leading experts in the field of cell work with develop over the worldwide. therapy, including Professors Emma Morris and next quarter of a century. Hans Stauss, who bring 15 years of experience in T cell engineering and cell gene therapy clinical Dr Anne Lane Dr Richard Fagan trials to the venture. CEO Directorf o BioPharm

A springboard to impact

I’m pleased to echo Anne’s message government-launched Dementia Discovery Fund Last year saw the Physical Sciences & Engineering (PS&E) that it has been another positive year for (DDF) to explore new approaches in tackling project portfolio continue to grow in a highly positive diseases that cause dementia. manner. Spinout company Senceive Ltd, which provides UCLB and for the research, ideas and innovative wireless remote condition monitoring solutions to innovations emanating from UCL. By working with researchers from the very earliest the rail and construction industries, secured the SME of the stages of their commercial careers and providing Year accolade at the Rail Partnership Awards, whilst the The role that UCLB plays, matching UCL research timely investment advice, we help to ensure that successful launch of the Portico Ventures programme to commercial solutions, enables income generation world-leading innovations have an effective demonstrated how UCLB continues to develop innovative that can be distributed back to the university and its springboard to impact. You’ll find a snapshot of the ways to support effective translation and commercialisation. academics. The financial results this year funds that we work with on the pages that follow. Finally UCLB’s express licensing platform E-Lucid demonstrate UCLB’s commitment to return value continues to help both UCL and universities and, partly via shareholding realisation from our I hope you enjoy reading about from across the UK and USA to achieve publicly-listed spinouts, we have returned £4.5 some of the opportunities that impact and income endpoints from their million to UCL and £3.6 million to academics and we offer to the UCL academic lower-value IP assets. third parties. community.

Equally heartening are the continuing external investments made in UCL technologies. A prime Dr Steven Schooling example is AstronauTx Ltd, a new biotech company Directorf o Physical Sciences, building on research from the Alzheimer’s Research Engineering, UK UCL Drug Discovery Institute (DDI), which David Hunter Built Environment & received a £6.5 million investment from the Chairman Social Sciences

2 | UCLB Annual Report 2018/19 UCLB Annual Report 2018/19 | 3 Funding opportunities UCLB financial results summary Turning your vision into reality

We manage and make available to academics a number of funds to Income analysis for 2018/19 F help you develop your ideas. £’000 E A A Royalties and intellectual property income 6,331 D B Spinout exit realised 6,788 We can connect you to the funding partner that’s best suited to your C Fair value gain on quoted investments (adjusted) 12,970 D Services to UCL 1,571 project and will support the development and commercialisation of B E Research and Proof of Concept funding 2,312 your promising technology. F Other 2,039 C 32,011

Expenditure analysis for 2018/19 A £’000 A Patent costs 1,491 E So far, the fund has supported over 45 To date, the fund has worked with 12 B Distribution to academics and external parties 3,573 B different companies and projects at UCL. projects at UCL and committed a total of C Distributions to UCL 4,518 over £14 million. D Research and consultancy 2,587 As of December 2019 UCLTF has E Operating costs (staff and other costs) 5,175 supported: 17,344 D C

Bring your bright idea

10 20 14 to us Licensing Prooff o Spinouts The above figures include those of UCL Business Ltd. projects concept The above figures include the fair value gains on quoted If you are a UCL academic or work for projects investments and exclude the values of investments and loans one of our partner hospitals, and have impaired during the year. an innovation that you think might have commercial potential, please get The Balance Sheet is not included in this report. in touch for a confidential, no obligation discussion.

Full sets of accounts are available from: We can put you in contact with one of H Rothera, our specialist business managers who External investment raised by UCL spinouts Director of Finance, will provide commercial advice UCL Business Ltd, tailored to your specific subject area. 97 , London, sContact u at [email protected] or visit Successful IPO's of three W1T 4TP. our website to learn more: uclb.com UCL spinout companies Introduction of the UCL Technology fund

£29.3M £39.9M £32.9M £97.9M £133.5M £618.2M £313.6M 2013 2014 2015 2016 2017 2018 2019

4 | UCLB Annual Report 2018/19 UCLB Annual Report 2018/19 | 5 UCL Business Ltd The Network Building, 97 Tottenham Court Road, London, W1T 4TP T +44 (0)20 7679 9000 uclb.com

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