Novel Structures for Public-Private Partnerships: Case Studies with Medical Devices and Biopharmaceuticals

At a time when the growth rate in research opportunities towers over the funding capacity of traditional sources of sponsorship, universities are turning to translational research and the associated licensing revenue streams as the untapped resource to close the gap.  This hope is challenged by the historical track record which shows that most universities do not have a successful track record in technology transfer. In this context, this presentation examines the current landscape for technology transfer via spin-off companies generated from university research. The classical view of a “basic research phase” and a “VC-supported development & commercialization phase” separated by the so called “valley of death” albeit simplistic, offers some insights into the high failure rates. The presentation proposes a new model for a public-private partnership with the goal of higher success rates for translational research and development. The model will be illustrated with recent case studies involving medical devices and biopharmaceuticals.