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Discussion Document: July 6, 2009
The Avon Founda-on, Na-onal Cancer Ins-tute and Center for Advancing Innova-on Business Plan and Startup Challenge University Presenta-on By: Rosemarie Truman, Founder and CEO, The Center for Advancing Innova-on October 16, 2013
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What is the Challenge: Develop a business plan and launch a startup using 10 near-term, commercially viable inven-ons Challenge Overview Business Plan (BP) and Startup Contest using 10 near-term, commercially viable inven8ons conceived
and developed by inventors from the NCI and an Avon Founda8on (AF) grantee Challenge teams will par8cipate in three phases: LeFer of Intent, Business Plan and Start-up
Goals: Breast Cancer (BC): Increase survivability and improve the standard of care in areas of unmet need Technology Transfer (TT) Memorandum: Accelerate and increase the volume of Federally funded
technology transfer in support of high growth businesses Economic Growth: Spur economic growth across the na8on through new startups and jobs Entrepreneurship Learning: Provide a plaLorm for Universi8es to expand their entrepreneurial
programs Business Model: Create new business models in TT, transla8onal research and R&D funding
Phases: Three phases - Challenge Teams Opportunity: Business Plan Prize: Up to 100 teams will par8cipate, 10 teams per inven8on. There will be one $5K
prize per inven8on ($50k in total awards) Start-up Phase Seed Funding: Up to 30 successful start-ups will apply and poten8ally be awarded
funding which could range from $100K to over $1MM Funding will come from venture capital, economic development corpora8ons, Avon Founda8on or
other private sources. Funding will not be provided from the NIH
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Who are the key players?
BIO SoPE CoFoundersLab Universi8es
Students gain: real-world, cross-discipline, entrepreneurship experience; gain exposure to experts
Universi/es gain publicity for providing entrepreneurial student opportuni8es and new way to create jobs
Economic Development organiza8ons
Venture capital Private equity Angel investors
Breast Cancer Survivors Venture Capitalists Successful Serial Entrepreneurs Industry Execu8ves and Experts Founda8on, NCI and CAI Core Team
Judges/Mentors
Supporters
Core Partners: The Avon Founda8on Na8onal Cancer Ins8tute The Center for Advancing Innova8on
Seed Funders
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Challenge Topics: Novel, Commercially Viable Breast Cancer Inven-ons
#1 - Diagnos-c from Biopsies with SoYware Analysis Title: Breast Cancer Diagnos-c Based on Spa-al Organiza-on of Genes in the Cell Nucleus Execu-ve Summary Category: Diagnos8cs/Health IT Disease Focus: Breast Cancer using tumor biopsies Basis of Inven-on: Gene (DNA) How it works: Uses the 3D placement of genes to detect breast cancer in 8ssue Patent Status: Patent issued in Europe (validated in Germany, UK, France), pending in US, Canada Lead Inventor: Tom Misteli, PhD Development Stage: In vitro and retrospec8ve in vivo
Therapeu8cs: 5 Diagnos8cs: 5 Prognos8cs: 1 Vaccine: 1 Health IT: 1 Device: 1 Delivery Method: 1 Note: some inven8ons have more than one use and cover 2 or more of the above
Breast Cancer Challenge Topics
NCI Inven-on Example
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Who can par-cipate?
Team Design: Mandatory Requirements*
Cha
lleng
e TE
AM
Business
Legal
Medical/Scien8c
Seasoned Entrepreneur
Other Key Notes on Who May Par-cipate
Students: Graduate and undergraduate
Students Post-docs, those in residency Anyone else beyond the three mandatory students Others Areas of Recommended Knowledge Sources: Business development Payers Key Opinion Leader FDA/Regulatory Venture Capital Clinical Research Outsourcer
Over 18 years old At least three students on the team
*Note: two inven8ons require addi8onal disciplines Inven8on #1: computer science; inven8on #3: engineering
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Overview of Phases: 100 teams enter; a poten-al of 30 startups
10 Inven-ons
10 Teams for Each Inven-on
Planning Phase 1:
Letter of Intent Phase 2:
Business Plan Post-Contest Phase 3: Startup
Inven-on 1
3 Teams per Inven-on Go to Ph3
Inven-on 1
3 Startups for Each Inven-on
Startup Winner Has Licensing Agreement and Seed Funding
Select an inven8on
Form a team
Business Plan Pitch Elevator Speech
Revise Business Plan
Launch Startup Apply for seed funding
Apply for a license
Enter your core team, mentors, advisors and collaborators
Collaborate with the NCI or AF grantee University, Clemson
Launch a Product
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Lecer of Intent: Guidelines, Deliverables and Key Dates
Letter of Intent
Deliverables: LeFer of Intent form (it contains a CDA click through) Prize Alloca8on Form Resumes (one package containing all resumes of core team members,
mentors, and advisors) Join Wiggio; create group and invite CAI to your group OPTIONAL: Stakeholder Analysis and Collaborators Guidelines: Augment your team with Venture Capitalists who may provide funding Iden8fy collaborators that can provide seed funding and/or services to
your start-up (e.g., legal, accoun8ng, valua8on, etc.) Include team members that have relevant inven8on experience Prepare a strong LOI with all disciplines required, mentors and advisors.
We are accep8ng strong teams on a rolling basis Key Dates: October 1st, 2013 to November 29, 2013 Start accep8ng LOIs: October 1st; Stop accep8ng LOIs, December 1st, 2013 Receive nal LOI communica8on by December 4th , 2013
10 Teams for Each Inven-on
Inven-on 1
Phase 1:
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Challenge Team Member Deni-ons
Challenge Team Deni-on: The Challenge Team is made up of the Team Leader, Core Team Members, Advisors, Mentors A Team Leader is our single point of contact for the Challenge and accountable for deliverables A Core Team Member is accountable for deliverables
A Mentor has domain experience and will ac8vely work with the team on a daily/weekly basis to review/complete deliverables
An Advisor has domain exper8se and the team uses for Q&A sessions, e.g., KOL
A Collaborator is an organiza8on that can improve your probability of success; they will include seed funders, services rms, etc.
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Business Plan: Guidelines, Deliverables and Key Dates
Business Plan Deliverables: 10 page business plan or a business model canvas 1 minute elevator pitch posted on YouTube 5 minute live pitch via Skype or video conferencing to judges 10 page pitch deck (maximum 10 pages Powerpoint or Prezio) Guidelines: Begin with the end in mind. Make sure you understand
Seed funders criteria for investment NIH or Clemsons license agreement requirements
Leverage CAIs templates/guidelines for your business plan, regulatory strategy, development plan, and commercializa8on plan, etc.
Check the criteria we are using to assess deliverables Key Dates: Deliverables due: February 3rd (can be submiFed early) Pitches: February 3rd to February 13th Award Announced: February 19th
Prize: $5K for each of 10 winning teams one award per inven8on
Phase 2:
3 Teams per Inven-on Go to Ph3
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Start-up: Guidelines, Deliverables and Key Dates
Start-up
Deliverables: Revised regulatory strategy, commercializa8on plan and development plan Start-up incorpora8on Seed funding applica8on(s) NIH or Clemson licensing applica8on
Guidelines: Incorporate your start-up as soon as possible Revise your deliverables by gaining addi8onal input from KOLs, payers, the
FDA, VCs, poten8al collaborators, CROs, CMOs, service providers, etc. Parallel process your deliverable crea8on especially seed funding and
licensing applica8on; there could be a chicken or the egg scenario
Key Dates: Start date: February 20, 2014 Deliverables due: June 17, 2014 Awards announced: June 27, 2014 (or later) Deni-on of Success: Start-ups launched a company; raised capital and in-licensed an inven8on. Successful start-ups are honored with a Start-up Medal of Honor in an awards ceremony
Phase 3:
Inven-on 1
3 Startups for Each Inven-on
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Post-Challenge Expecta-ons
Avon Founda-on: Ongoing partnering to ensure success NCI/Clemson University Research Founda-on: Ongoing Collabora8on The Center for Advancing Innova-on: Ongoing coaching/mentoring
EVENTUALLY: NEW BREAST CANCER PRODUCTS/SOLUTIONS ON THE MARKET
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More on the inven-ons, page 1 of 2
#1 Health IT Inven8on Detects Breast Cancer based on Spa8al 3D Gene Placement Tom Misteli, Patents issued in Europe (validated in Germany, UK and France) pending in US/Canada In vivo and in vitro data
#2 Therapy/Vaccine Slows tumor growth, preven8ng metastasis post surgery Dennis Klinman, Patent pending in the US, pre-clinical in mice
#3 Device/Therapeu8c/Vaccine Collagen composite 8ssue replacement material as a reconstruc8on plaLorm with an8-tumor capabili8es Karen Burg, Patent issued in the US, human breast 8ssue tested in pre-clinical
#4 Therapeu8c/Diagnos8c Binds specifically to a cancer cell target and inhibits the tumor growth Mitchell Ho, US patent pending, in-vitro data also mouse xenograph models
#5 Therapeu8c/Vaccine S8mulates immune response for tumor inhibi8on Alan Krensky, Patent Pending in US, Canada, Australia, and Europe, pre-clinical in mice
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More on the inven-ons, page 2 of 2
#6 Therapeu8c Small molecule that works with current drugs to enhance their eec8veness Nayda Tarasova, US patent issued; Europe, patent pending; pre-clinical in-vitro
#7 Two Inven8ons Vaccine and/or Drug Delivery PlaLorm to deliver proteins to cancer cells much less toxic and more specic than current models Deb Chatterjee, Patents issued in US; another pending, in vitro and in vivo data
#8 Diagnos8c Uses genes to detect Cancer and associated stage Steven Libus, US patent pending, retrospec8ve human data from clinical trials
#9 Diagnos8c Predict pa8ents survival rate and guides treatment Stephen HewiF, Pending in U.S., Canada, Europe, Australia, Japan, Israel, and New Zealand, more than a thousand samples of human data
#10 Diagnos8c Determines the eec8veness of chemotherapy for a pa8ent Sherry Yang, US patent granted; Pending in Europe, Canada, Australia, and Japan, data from >1500 human 8ssue samples
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LeFer of Intent
Oct 1-Nov 29 2013
8/30/13 10/1/13: Form team
10/1/13: Submit LOI 11/29/13: LOIs due 12/4/13: Communicate to teams
Business Plan
Dec 2 2013 Feb 19 2014
12/2/13: Launch BP eort 2/3/14: Deliverables due 2/3/14 2/13/14: Virtual pitches with teams
2/19/14: Award top teams for each inven8on
Start-up
Feb 20, 2014- June 27, 2014
2/20/14: Launch SU eort Ongoing: Revise BP; create SU; apply for funding and license
6/17/14: Deliverables due 6/27/14: Announce successful start-ups
An8cipated Post-Contest Ac8vi8es
Conduct discussions regarding collabora8ve R&D agreement
Con8nue R&D on inven8on
Con8nue raising capital
Key Dates
Provide mentoring / guidance to teams Receive ques8ons and lter to SMEs as necessary Review rolling BP and SU deliverables
Ongoing
SUMMARY: Key Dates Under the Overview Sec-on on hcp://www.breastcancerstartupchallenge.com
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Key Links
hFp://www.breastcancerstartupchallenge.com
Challenge Website
LeFer of Intent Forms For Teams Team Leader Core Team Members, Mentors, Advisors and Collaborators:
Wiggio Links For Teams
hFps://www.surveymonkey.com/s/TeamLeadLOISurvey
hFps://www.surveymonkey.com/s/BCSChallengeCDAForm
Main Group hFp://wiggio.com/group_open_join.php?groupid=1838019&password=CAI1234&ref=1787839 Team Collabora8on hFp://wiggio.com/group_open_join.php?groupid=1848688&password=CAITEAM&ref=1787839
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Connect with us!
Ques-ons: Contact Rosemarie Truman, rt@thecenterforadvancinginnova-on.org
Facebook - Breast Cancer Start-up Challenge TwiFer - @BCSChallenge