Ronald J. Huss Associate Vice President for Research and Technology Transfer Director, Office of Technology Management phone: website:

Penn State Data $807M Research Expenditures FY invention disclosures filed per year 80 provisional patent applications filed per year 60 U.S. patent applications filed per year 40 U.S. patents issued per year 775 U.S. patents issued to PSRF license agreements executed per year 5-7 option agreements executed per year

Paths to Commercialization of Intellectual Property  IP licensed to existing company o Licensing revenue (40:40:20) o Licensee sponsors research at Penn State o Consulting opportunity for researchers o Employment opportunity for students  IP licensed to start-up company o Penn State researchers not actively involved with start-up company o Penn State researchers actively involved with start-up company ▪ Founder ▪ Equity Holder ▪ Chief Technology Officer/Chief Scientific Officer ▪ Employee

Since 1999 there have been 79 licensed Penn State start-up companies  Average of 5 new start-up companies formed per year in recent years

Examples of Successful Penn State Start-up Companies  Advanced Inhalation Research o Company formed in 1997 o Technology for the inhalation of drugs o Equity-based license agreement o Purchased by Alkermes in 1999 o Liquidation of equity generated $1.4 million for Penn State

Examples of Successful Penn State Start-up Companies  Reva Medical o Company formed in 2001 o Stent and stent coatings o Initial Public Offering in 2010; raised $85 million o Liquidation of equity generated $1.5 million for Penn State

Examples of Successful Penn State Start-up Companies  Anacor Pharmaceuticals, Inc. o Company formed in 2002 o Boron-based chemistry platform for anti-fungals, anti-inflammatories and antibiotics o 1 product in Phase 3 clinical trials o 5 products in Phase 2 clinical trials o Initial Public Offering in 2010; raised $70 million o Penn State equity has not been liquidated

Examples of Successful Penn State Start-up Companies  GelMed Sciences (formerly EIEICO) o Company formed in 1999 based on 3 agricultural technologies o First Penn State start-up company with an FDA-approved product

Developing simpler/more straightforward license agreements for Penn State start-up companies

Deferment of reimbursement of patent expenses by Penn State start-up companies