Annual Review UCLB’s 25th year 2017/18 Commercialising UCL technology £25,836kTurnover for 25 years We’re the technology commercialisation company of UCL and its partner NHS trusts. 48New Patent Applications As part of UCL Innovation & Enterprise, we bring to market truly world-leading, world changing innovations that have a real and positive impact on people’s lives. 277Active Licences £438 million Light touch UCL’s spinouts investment for commercialisation have raised over UCL gene therapy model launched – £1 billion in 63Active Spinouts spinouts Portico Ventures investment in 10 years 247Patent Families Trust us to bring your ideas to commercial life and share the income 37Drug Discovery Projects uclb.com 1 A year of unprecedented Numbers that achievement add up to success I am delighted to be contributing We continue to evolve our approach to ensure Our 25th anniversary has proven On behalf of everyone here, I’d like to bid Cengiz the greatest impact; for example, we launched a fond farewell, thank him for his immense to my first UCLB Annual Review, Portico Ventures as a pilot in June. This is run in to be quite a year for UCLB. The contribution to UCL and UCLB, and wish him having taken up the role of partnership with UCL Computer Science, to test success of Autolus and Orchard well in retirement. an innovative model that’s already producing Managing Director in March positive results. You can read more about it later Therapeutics, two of our spinout Overall, we continue to move forward with 104 2019. This is a great time to be in this review. initial public offerings (IPOs) inventions disclosed, 48 new patents filed and 35 licence deals completed. taking the company forward, 2018 was also the year the business was which now have a combined after celebrating 25 years of rebranded. This reflected our shared mission, as value of more than £3bn, is I hope you enjoy reading about UCLB’s journey part of UCL Innovation & Enterprise, of making a in this anniversary year. Please do not hesitate to successful commercialisation positive difference to the wider world, developing particularly timely and underpins get in touch if you’d like to know more about any Dr Anne Lane David Hunter Managing of UCL’s technologies and leading technological innovations that have a real Chairman our celebrations. aspect of our work. and beneficial impact on people’s lives. Director 12 months of unprecedented achievement. Throughout the change there’s a constant: UCLB was also able to contribute £15m to UCL’s offering our academics the support they need surplus and the board had great pleasure in right from the conception of an idea – which confirming Anne Lane’s appointment as the new 2018 was an excellent year for UCL spinouts: could develop into licensable intellectual Managing Director, following the retirement of property (IP) – through to the formation of a Cengiz Tarhan. Anne has a proven track record Autolus Therapeutics, a biopharmaceutical spinout company. That includes assistance for and experience in licensing, technology transfer company based on advanced cell programming our researchers throughout the translation stage, and commercial strategies for early-stage technology pioneered by Dr Martin Pule (UCL investing through a number of different funds and technologies. Cancer Institute), made its debut on NASDAQ, offering years of experience, tradition and unique raising $160 million and now capitalised at over UCL know-how. Cengiz was UCLB’s MD for an impressive 25 $1.2bn. The company was also the biggest initial years, right from the very beginning, when UCLB fundraiser in Europe for an SME. I am confident that no other university- was first established in 1993. He set up the associated tech transfer company can offer its company to commercialise research from UCL Orchard Therapeutics, a biopharmaceutical academics our track record. Our team of experts for the benefit of society and he was personally company dedicated to transforming the lives are ready and waiting to help develop UCL’s involved in many of our greatest achievements, of patients with serious and life-threatening ideas into successful commercial entities today, including the flotation of PolyMASC back in 1995 rare diseases through autologous ex vivo gene tomorrow and for the next 25 years. – the first university spinout ever to list on AIM. therapies, raised $150m in Series C funding, following $110m in Series B in December 2017. In November it raised $225 million through its initial public offering. Freeline Therapeutics, a clinical stage company focused on treatment of chronic systemic diseases with liver targeted adeno- associated virus (AAV) gene therapy, raised £88 million in Series B funding. 2 3 How we can help you We’re proud to be part of UCL Innovation & Enterprise, where we help turn knowledge and ideas into reality. All the support you need, all at the right time The extraordinary Fast forward from Freemedic We manage and make quality of the research Invention disclosure Internal and external Social enterprise Our forerunner, Freemedic, available to academics a funding and technologies was launched in 1993 and was number of funds to help We carefully select the If you are looking to develop arising from UCL’s one of the very first technology develop ideas, including: innovations with the best We’ll find the funding that’s your UCL research for transfer companies. Today we’re chance of commercial success the best fit for your project public benefit – perhaps to faculties and among the leaders in the field – The £53m UCL and help develop and launch – from within UCL, the UCL improve the quality of life particularly in healthcare. Technology Fund – them. Technology Fund (UCLTF), of disadvantaged people, associated NHS trusts supports UCL’s researchers our own organisation, or address environmental issues to commercialise their other sources such as or reinvest profits back into is world-renowned. We deliver the complete Proof of concept ideas. The fund benefits research councils and venture the community – we can commercialisation solution from IP commercialisation Transforming an idea capitalists. Read more about help you develop a social For 25 years UCLB has been Our total end-to-end capability capabilities and venture into a proven innovation, the spinouts UCLTF has enterprise. UCLB is working providing the expert support that includes: capital expertise, through a with a performance and invested in later in the review. with academics across the links the university’s academics close collaboration between commercialisation potential university, from the UCL with the outside world. Our • IP protection UCLB and Albion Capital. that can be realised, takes Great Ormond Street Institute Marketing and negotiations vision is ‘to help support and • Patent registration experience, expertise and of Child Health to the UCL commercialise research from • Creating new businesses and Apollo Therapeutics funding. We can provide you We’ll help identify the best e-Health Unit, in order to create UCL and NHS trusts associated spinouts – a £40m fund to support with this and more. exit point for your innovation, solutions that can benefit with UCL for the benefit of • Licensing and/or sale of drug discovery projects whether that be licensing, joint society humankind in its widest sense.’ technologies to industry and drive forward venture or spinout: Patenting partners therapeutic innovation, Licensing it’s a unique collaboration Any IP you create with your We’ll find industry partners Our NHS Trust partners between AstraZeneca, technology is a valuable asset. that could benefit from your include: Fairness first GlaxoSmithKline, Johnson & Our patent team will identify innovation. We negotiate • University College London UCLB operates differently to Johnson Innovation and the the strategy that offers the best agreements and provide you Hospital researchers working in the technology transfer offices protection for it while managing with comprehensive advice and • Moorfields Eye Hospital commercial world. When your of UCL, Imperial College the essential legal formalities. support facilities. • Great Ormond Street Hospital business is acquired, the London and the University Spinouts for Children value of the IP is shared with of Cambridge. If your technology could be Project management • The Royal Free London you, the originator/s, and your better served through a new Hospital department. You concentrate on research company, we’ll establish, and development while we brand, fund, manage, promote take care of the business, and incubate it. And usually including developing retain a stake in the new commercial strategy and taking enterprise – read more about your innovation through the some of our latest spinout regulatory process. Visit our successes. website to learn more about what our team can offer. 4 5 Our Route to Market Project Licensing Management 31 74 268 UCL & UCL Partner Hospitals Invention Patenting Investments Marketing & Disclosure Negotiations Spinouts 84 103 70 108 11 37 62 99 38 30 Key This diagram shows the total number of our active projects at each stage of the development process as of July 2018. Engineering, Physical Sciences, Arts & the Built Environment Biomedical Sciences Project Management See previous page for descriptions of each stage of the route to market. 6 7 Biopharmaceutical News Overview 2018 Investors place their faith and funding in Autolus Therapeutics Orchard Therapeutics Glialign UCL gene therapy spinouts The business is based on the advanced T cell In November, Orchard Therapeutics, a spinout dedicated Hundreds of thousands of people every year are affected programming technology pioneered by Dr Martin Pule to transforming the lives of patients with serious and by severe peripheral nerve damage. This can result in It’s been a record year for fundraising for a number of UCL of the UCL Cancer Institute. It made its debut on the life-threatening diseases through autologous (i.e. using paralysis and loss of sensation, often accompanied by biopharmaceutical spinouts working at the cutting edge NASDAQ in June, raising $160 million investment.