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Thoughts for Successful Commercialization Darlene Homonko, PhD Executive Director [email protected] www.ghbn.org Commercialization of Innovative Research: Implementing Solutions that Work for Canada Osgoode Hall ,York University Toronto ON March 20, 2009 Golden Horseshoe Biosciences Bioscience Network Network––Solutions Solutionsfor forLife Life Partners in a Regional Innovation Initiative Municipal Governments Business Support Services Industry Academic Institutions GHBN Health Sciences Centres & Hospitals Other Regions & Consortia Federal & Provincial Government Network of business leaders, researchers, entrepreneurs, and economic development officers involved in biosciences, biotechnology, and related fields Golden Horseshoe Bioscience Network – Solutions for Life Fundamentals 1. Assets 2. Opportunity 3. Resources Golden Horseshoe Bioscience Network – Solutions for Life Cultures with Different Values Academia Publish Research Share information Answer to public Inclusive Driven by ideas Time insensitive Industry Patent Development Secretive Answer to shareholders Exclusive Driven by markets Time sensitive Golden Horseshoe Bioscience Network – Solutions for Life Currency for Commercialization Research outcomes that produce value Intellectual Assets – – – – Patents Copyrights Trademarks Know How Golden Horseshoe Bioscience Network – Solutions for Life The Opportunity 3 Fundamental ‘Value Drivers’ - • Competitive Product Advantage/ Markets • Technology/IP opportunities • Management Golden Horseshoe Bioscience Network – Solutions for Life Keys to Early Stage Success Orientation to products, markets and partners Focus on scientific milestones Patent strategy Operationally sound development plan Management Founders need to be engaged Commercial expertise Create value at every development stage Golden Horseshoe Bioscience Network – Solutions for Life Issues Affecting Successful Commercialization Technology or Intellectual Property Economics/ROI Market 38% 35% 27% Golden Horseshoe Bioscience Network – Solutions for Life Darlene Homonko, PhD Darlene Homonko, PhD Executive Director www.ghbn.org [email protected] [email protected] www.ghbn.org Golden Horseshoe Biosciences Bioscience Network Network––Solutions Solutionsfor forLife Life