Commercial Partnerships Annual Review 19/20
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1 Overview Commercial Partnerships Annual Review 19/20 Together we will beat cancer 2 Overview Our missions & values Contents CRUK’s vision is to bring forward the day when all cancers Overview are cured. Over the last 40 years, cancer survival rates in 4 CBO’s statement the UK have doubled. In the 1970s just a quarter of people 5 Highlights from the 19/20 financial year survived. Today that figure is half. In order to improve on this, we need to work with industry partners to progress Introduction the best ideas to market. This is where the Commercial Partnerships team can help. 2 What we do and why 7 Where we do it 8 Our principles for doing business 9 Our commitment to CRUK funded researchers Our Our Our 10 Our Commercial Objectives mission vision ambition Our achievements 11 - 17 Objective 1: Supporting researchers with translational activity The mission of CRUK Commercial Together we will 18 - 19 Objective 2: Encouraging entrepreneurial culture and skills in CRUK Commercial Partnerships will be beat cancer and our research community Partnerships is to the world’s leading see 3/4 of people maximise the translation cancer translation and survive by 2034 20 - 26 Objective 3: Develop industry partnerships in therapeutics of cancer research for commercialisation 27 - 29 Objective 4: Diversify and maximise opportunities beyond therapeutics patient benefit group 30 - 31 Objective 5: Invest in our people and processes, promote diversity See our objectives on See our achievements on See our impact on 32 - 35 Objective 6: Leverage and return capital page 10 pages 11 - 35 page 36 - 37 Additional information Our year in numbers 36 - 37 Our impact £96m £43m £1.5bn 38 - 38 Our people Total revenue Net Contribution to CRUK raised by our Spin-Outs research to date See our financial review on page 35 3 Overview Our achievements 2019/20 >600 137 38 Researchers we Invention disclosures Patents filed (25 interacted with priorities & 13 PCTs) 2 >£400m $265m £96m Spin-outs created Investment raised by Impact Medicine Fund IP-related gross revenue portfolio in year raised with SV Health Investors 43 >£1.5bn £43m 3 92 Portfolio spin-outs Total raised by spin-outs Reinvested in Business accelerator Commercial deals signed created to date to date cancer research partners added 4 Overview Cancer Research UK (CRUK) is committed to supporting research on improving the diagnosis, treatment and prevention of cancer. One way we enable this is to work with industry. We join forces with our partners in industry to gather together all the expertise and resources needed to translate promising research into new therapeutics, diagnostics and other innovations that benefit cancer patients. Without these essential partnerships, research with significant potential may never reach those who need it. Our Commercial Partnerships team act as the meeting point between our charity-funded research and industry. We help to accelerate the translation of research into products for patient benefit through the development and commercialisation of exciting new discoveries. In addition, any revenue received by us through our commercial partnerships is reinvested back into developing lifesaving research. This annual review aims to demonstrate our commitment over the last year to the researchers whom we support with achieving their translational ambitions, the companies with whom we partner and the cancer patients to whom our efforts are ultimately dedicated. Tony Hickson, Chief Business Officer, Cancer Research UK 5 Overview Highlights from the 19/20 financial year Autolus, developing more Achilles Therapeutics, developing persistent T Cell therapies –raised Balversa® (erdafitinib) – personalised T Cell therapies – raised Was approved for bladder cancer during the year. $180m £100m of new finance in the year. of new finance in the year. We have now supported 137 new ideas for new drugs, 10 drugs to market tests and devices were Over £500m in cumulative royalties to date have helping patients. disclosed to CRUK by funded researchers during the year. been generated and reinvested back into research by CRUK and our Our spin-out portfolio has now raised over academic partners. Zytiga® (abiraterone acetate) £1.5bn has now been dosed in over in total, with more than £400m raised in the last year. 330,000 prostate cancer patients, generating over Partnerships with 3 new accelerators were £230m struck over the course in royalties to date. of the year, with over 30 new oncology This year our immuno-oncology alliance with Ono Pharmaceutical focused businesses and LifeArc was awarded the Best Partnership Alliance at the benefitting from the prestigious Scrip Awards, which recognises major achievements in help provided. the industry. 6 Introduction What we do and why We’re dedicated to advancing discoveries to beat cancer Patient Engage with Manage Benefit & Protect new Develop industry & & ideas Societal investors track Impact Identify novel assets & Provide translational Commercialise CRUK Manage partnerships protect new inventions support until sufficiently funded science by & collaborations and using intellectual developed to be able to collaboration, licensing monitor licenses to property rights engage venture finance or forming new spin-outs ensure our researchers’ or industry engagement ideas are progressed towards patient benefit Cancer Research UK’s Commercial Partnerships team, a part of the Research and Innovation division of CRUK, develops promising ideas into successful We help bridge the gap between cancer therapeutics, vaccines, diagnostics and research discoveries and industry enabling technologies. Our deep understanding of engagement. Ultimately however, both academia and industry enables us to translate it’s about patient benefit. research into commercial propositions to deliver patient benefit and commercial value that will DR IAIN FOULKES support further cancer research. Exec Director, Research & Innovation 7 Introduction Where we do it The commercialisation of technology is a global business. Our role is to find the best partner for CRUK discoveries wherever they may reside. Such partners are the ones that will maximise the chances of a product or service reaching the market and benefitting cancer patients. We have over 280 partners now present on 6 continents across the world and staff based across the UK and in the USA. Despite this global approach, we still partner extensively with UK based companies (e.g. we have several partnerships with AstraZeneca) and always request clauses in our agreements around ensuring affordable pricing policies in the UK. FINLAND NORWAY CANADA IRELAND UK POLAND Switzerland: ADC LONDON GERMANY Therapeutics Sárl, CZECHIA WASHINGTON MINNESOTA BOSTON FRANCE SWITZERLAND NEW YORK Spin-Out SOUTH COLORADO PORTUGAL SPAIN KOREA ITALY UNITED STATES VIRGINIA JAPAN CALIFORNIA TEXAS MALTA ARIZONA GEORGIA ISRAEL CHINA South Korea: FLORIDA Lunit Inc. Licence to TAIWAN Optimam PUERTO RICO AFRICA NIGERIA SINGAPORE SOUTH AMERICA Australia: Ximbio holds South Africa: Cape Bio 7 Academic and 1 Pharms (Pty) Ltd and Commercial Licenses University of Capetown CHILE Chile: Pontificia AUSTRALIA Universidad SOUTH AFRICA Catolica de Chile NEW ZEALAND 8 Introduction Our principles for doing business Our commitment to being professional in what we do Our deep understanding of the perspectives of both academia and industry enables us to translate promising research into commercial propositions for the greatest patient benefit and maximum financial return. As such, we strive to act in accordance with the principles and commitments set out below: COMMERCIAL PARTNERSHIPS EFFECTIVE PARTNERSHIPS IP DEVELOPMENT Our priorities reflect our vision of We identify and cultivate productive We want to see CRUK discoveries ‘Advancing Discoveries to Beat Cancer’. relationships with companies that share progressed to market as fast as possible. As Our primary driver is patient benefit. our values and care about improving such, we seek our partners’ commitment to the lives of cancer patients. the diligent development of the intellectual property we provide them access to. FAIR FINANCIALS RESERVED RESEARCH RIGHTS RISK MANAGEMENT We seek a fair financial return to CRUK We reserve the right for our researchers Bearing in mind acceptable business and our partners commensurate with to continue to use any IP we license for practice, we mitigate CRUK’s exposure to the development stage and value research purposes and for publication. commercialisation risks associated with the proposition. development and sale of licensed IP. 9 Introduction Our commitment to CRUK funded researchers We never stop publication of your research nor delay your CRUK funded publication. Our role is to work with you to ensure you can achieve your academic goals whilst also being translational/entrepreneurial. We firmly believe they are not mutually exclusive. With this is mind we have developed a customer charter, key highlights for which are provided SUPPORTING YOU MARKETING YOUR WHEN YOUR WITH YOUR NEW IDEA TECHNOLOGY TO THE TECHNOLOGY HAS OR INVENTION OUTSIDE WORLD BEEN PARTNERED • We will contact all grant • We will keep you (E.G. LICENCE OR recipients within 3 months informed of our marketing COLLABORATION) of award and introduce activity every quarter. • If you are involved with ourselves and our support Sometimes we may need ongoing research activity services. to call on you to support under the licence, we will this activity (e.g. meet with be in contact regularly (at • We will follow-up on an industrial