Summary
The University of North Carolina (UNC) achieved significant growth in technology licensing revenue, recording US$ 7.9 million, a 160 percent increase since 2009. Major contributions came from biotechnology start-ups such as Epizyme Inc. and Sarepta Therapeutics Inc., highlighting the effectiveness of UNC’s commercialization strategies. Collaborative efforts, including partnerships with the Kenan Institute and Carolina KickStart, were pivotal in this success. The Office of Technology Development played a key role in facilitating technology transfers and licensing agreements. UNC continues to reinvest licensing proceeds into research, aiming to further enhance innovation and commercialization outcomes.
Overview
The University of North Carolina (UNC) recorded significant growth in technology licensing revenue in 2013, with its Office of Innovation Commercialization reporting US$ 7.9M from technology licences — a 160 per cent increase in revenues from commercialisation of innovation since its inception in 2009.
Biotechnology Start-Ups Drive Revenue
UNC received a major boost in revenue from two of its biotechnology start-ups, Epizyme Inc. and Sarepta Therapeutics Inc., which began yielding results in 2013. UNC receives a lump sum when it divests a company. Mr Andy Johns, Associate Vice Chancellor for Research at UNC, noted that “The path was paved years ago, it’s a one-time shot in the arm, if you will.”
Commercialisation Partnerships
UNC has established a reputation for taking intellectual capital to market. In 2013, the Office of Technology Development partnered with UNC’s Kenan Institute of Private Enterprise and Carolina KickStart to identify and commercialise UNC technologies with commercial potential.
John Sheridan, Assistant Director of Carolina KickStart, commented that “I think that the doubling in revenue would not have been possible without the Office of Technology Development’s expertise. They’ve assembled a really strong team that (has) done a great job marketing and licensing UNC technologies.”
Jackie Quay, interim Director of Technology Development at UNC, observed that it is unpredictable whether an innovation will achieve commercial success, adding that “We consider it a success when a technology is developed into a commercial product.”
Scale of Technology Licensing Activity
UNC signed 63 different technology licensing agreements in 2013. Since 1997, UNC has accumulated 791 granted patents and 857 technology licences. The university has received licensing revenue of US$ 48.3M, created 91 technology start-ups, and brought in US$ 35.7M in patent reimbursements.
Forward Initiatives
In early 2014, UNC launched a pilot programme to award funding to innovators to further analyse the commercialisation potential of their innovations as real market products. The university also reduced overhead charges for two federal grants, with the aim of attracting more researchers and reinvesting licensing revenue alongside federal and industry-sponsored funding back into research.
Disclaimer
This article is for general information and does not constitute legal advice. Readers should consult a qualified attorney before acting on any matter discussed here.