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October 1 , 2012Vol. 1 Issue 4About UTRFUTRF Activity2012 Fiscal Year Totals(7/1/11 - 6/31/12)The UTRF Office of Technology Transfer moves inventions from the lab tothe market, turns ideas into products, creates new industry partnerships andstarts new companies that grow new jobs.Disclosures.144Visit our new website: utrf.tennessee.edu/techtransferU.S. Patents Filed.49U.S. Patents Issued.23High-Tech Startup Companies Resulting fromUT Technology More Than DoubleResponding to the challenge fromnational and state leaders to increaseand encourage more innovation,the University of Tennessee helpedestablish nine startup companiesbased on technology developed byUT faculty over the last fiscal year,more than doubling the total from ayear ago.The companies licensed technology from the University through theUT Research Foundation (UTRF), thenot-for-profit organization responsible for commercializing and licensing technology discovered by facultyacross the University of TennesseeSystem. Nine high-tech companieswere created in the fiscal year endingJune 30 while four were started inFY11.From 1999 to 2011, UTRF spun outa total of 32 companies based on UTintellectual property, averaging twoto four companies a year for the pastfive years. Of those companies, 15 arestill in business and four companieswere acquired. These 19 companiesillustrate a favorable comparison tostatistics from the Kauffman Foundation showing fewer than 50 percentof startups survive five years.The increase is the result of moreaggressive and ambitious goals setfor UTRF.“Part of the mission of the University of Tennessee is to help drivethe economic development of ourstate. By bringing more technologyto the marketplace, the Universityis answering the charge from Gov.Bill Haslam and President Obama toreward innovation and entrepreneurship while helping create new highquality jobs in high-tech fields,” UTSystem President Joe DiPietro said.“Six of the nine new companiesCONTINUED on page 3Licenses & Options.22Startups.9Licensing Revenue. 1,403,401**Unaudited totalUpcoming EventsVol Court: The Business ModelHypothesis Part 1: BusinessModel Canvas - 5:15 p.m. - 6:15 p.m.,Oct. 2, 2012, Haslam Business Building, Room201.Anatomy of a License Agreement- 11:30 a.m. – 1:30 p.m., Oct. 4, 2012, MinKao Engineering Building, Room 435.Vol Court: The Business ModelHypothesis Part 2 - 5:15 p.m. - 6:15p.m., Oct. 9, 2012, Haslam Business Building,Room 201.Start-Up Entity Types - 11:30 a.m. –1:30 p.m., Oct. 11, 2012, Min Kao Engineering Building, Room 435.Patent Basics - 12:00 p.m. -1:00 p.m.,Date TBD (November), 910 Madison, Room502 (UTHSC).
UTRF October 2012 NewsletterFall Entrepreneurial Workshop Series BeginsLast Thursday the UT ResearchFoundation, in partnership with theAnderson Center for Entrepreneurship and Innovation, hosted “AnIntellectual Property Primer”, the firstof seven entrepreneurial workshopsto be offered this fall.The series will focus on legal andbusiness information and the skillsets needed to launch and grow successful technology-based companies.The workshops are free of chargeand open to UT faculty and graduatestudents.When: Thursdays from 11:30 a.m. –1:30 p.m., beginning September 20and ending November 1Where: Min Kao Engineering Building, Room 435Cost: Free (lunch is included)9/27/12Impact of Commercialization on ResearchSpeaker: Michael Zemel, Chief ScientificOfficer, NuSirtDr. Zemel is a former UT professorthat started a new company (whichlaunched their first products lastmonth) and has recently gone towork for the company full-time. Hewill tell the story of his company evolution from his researcher perspective, highlighting both the things hedid right and the things he wish hehad done differently.10/4/12Anatomy of a License AgreementSpeaker: David Washburn, MBA, CLP, VicePresident, University of Tennessee ResearchFoundationIn this discussion, Dave will identify the basic terms of a universitytechnology license agreement andthe foundation for inclusion of thoseterms and conditions. You’ll gainan understanding of the relativeimportance of each term, includingwhich might be negotiable and nonnegotiable and take away some basicstrategies to mitigate concerns.10/11/12Start-Up Entity TypesSpeaker: Lynn Youngs, Executive Director,Anderson Center for Entrepreneurship andInnovationLynn will give an overview of thedifferent types of companies that canbe formed and the implications ofeach.10/18/12The Wind Up and the PitchSpeaker: Shawn Carson, Tech2020Building a growth company willrequire you to be able to tell yourstory in clean and concise mannerto investors. In this presentation,our speaker will discuss how to craftan effective story and then utilizetools like slides to enhance the story.The presentation will include the 10essential topics to cover in a strongcompany pitch and there are severalfun examples of what NOT to do.10/25/12The Capital ContinuumSpeaker: Ken Woody, Partner, InnovaMemphisKen will provide an overview of theventure capital business, criteria forinvestment, importance of relationships, how deals are structuredand what investors aim to get inexchange for their money. This is animportant session for anyone wanting to take on venture capital to fundtheir business.11/1/12How to Pursue SBIR/STTR FundingSpeaker: Chuck Witkowski, Chief ExecutiveOfficer, Hubble Telemedical, Inc.The Federal Government investsroughly 2.5 billion per year inSBIR/STTR Phase I & II funding andis awarded annually by the elevenparticipating federal agencies. Chucksuccessfully started a business usingSBIR funding, and in this session,you’ll learn how to identify opportunities and structure winning proposals that increase the probability ofbeing awarded.UTRF Thanks Dr. HickmanMr. Waymon Hickmanserved as Chair of the Boardof UTRF through its reorganization and restructure. Heretired as Board Chair in Juneof 2012. Mr. Hickman is fromColumbia, TN and has servedas a member of the UT BoardPAGE 2of Trustees. His leadershipand guidance led UTRFthrough this major change.Our thanks to him for hisdistinguished service. DickGourley, Interim President ofUTRF, presented this plaqueto him on August 28, 2012.
UTRF October 2012 NewsletterStartups More Than Double (continued)are related to innovations in healthcare, and their products will furtherhelp our state by improving surgicalprocedures, prevention, rehabilitation and overall quality of life of ourcitizens,” said David Millhorn, UTexecutive vice president and vicepresident for research and economicdevelopment.UTRF works with faculty in Knoxville, Chattanooga and Martin; theHealth Science Center based inMemphis and the statewide Instituteof Agriculture. UTRF helps facultyand the University protect inventionsand navigate the process of transferring ideas to industry throughlicensing agreements. In the rightsituation and often after many yearsof research and development, UTRFmay encourage a researcher to starta new company to commercialize thetechnology.In addition to nine new startuplicenses being executed, UTRF received 141 new invention disclosuresin 2012, which is a record high, upfrom 87 in 2011. An invention disclosure is a confidential documentthat a university inventor submits toUTRF that provides a comprehensivedescription of an invention.“Technology commercializationis very challenging, and it’s hard topredict what is going to stick, butthe more things we can review andtry, the better our results will beoverall,” Millhorn said. “An increasednumber of inventions will result in anincreased number of opportunities tocommercialize.”Among the companies spun outover the past 15 years, the most successful include Memphis-based GTx,a pharmaceutical company focusedon developing small molecules thatmodulate the effects of estrogensand androgens. GTx, co-founded in1997 by UTHSC professor of urologyMitch Steiner, employs more than100 people in high-paying jobs andhas raised more than 300 million inventure capital to fund its operations.Knoxville-based NuSirt SciencesInc., founded in 2007 by UT KnoxvilleProfessor Emeritus of Nutrition Michael Zemel, sells products to reducemetabolic health risks. The company recently released a weight-losssupplement that is activated throughphysical exercise. NuSirt receivedearly mentorship from Tech 2020, aKnoxville-based company that helpsaccelerate the development of highgrowth companies. NuSirt currentlyhas eight people on its payroll, butthat number is expected to increaseas new products are released.The nine new business startupsfacilitated by UTRF in the fiscal yearended June 30, 2012 are: Entac Inc. – a Memphis firm developing a medical device to monitorand predict post-operative ileus afterabdominal surgery. Genera Energy Inc. – a Vonore firmspecializing in integrated biomasssupply chain solutions. GeneraEnergy Inc. was spun out of GeneraEnergy LLC, a wholly-owned subsidiary of UTRF. HandMinder Inc. – a Memphis startup developing a portable medical rehabilitation device to recover finger/hand function in stroke patients. Infusense Inc. – a Memphis firm developing an automated platform foradministration of the surgical anesthetic propofol. Nanophthalmics Inc. – a Memphisfirm focused on developing surgicaltools that incorporate micro-fabricated materials to improve performance Raphael Biotech Inc. – a Memphiscompany developing new drugs inoncology. SimCenter Enterprises Inc. – a Chattanooga-based company focused oncomputational modeling and engineering. Skimtek Inc. – a Knoxville companycreating sediment basin dewateringsystems. Solex – a Knoxville company looking to utilize peptide imaging agentsto assist physicians in detectingamyloidosis.For more information about UTRF,visit http://utrf.tennessee.eduUTRF Staff DirectoryDick Gourley, PharmD - Interim PresidentKnoxville OfficeDave Washburn - Vice PresidentNghia Chiem, Ph.D. - Licensing AssociateJoy Fisher - Director of Start-UpsKimberly Hood - Business Incubator CoordinatorMaha Krishnamurthy, Ph.D. - Licensing AssociateSamantha Jeffers - Business ManagerPatrick Reynolds, Ph.D. - Licensing AssociateMary Ann Warwick Russell, J.D. - Staff AttorneyJeanie Snider - Office ManagerMemphis OfficeRichard Magid, Ph.D. - Vice PresidentLakita Cavin, J.D., Ph.D. - Staff Attorney, LicensingAssociateJanet Ralbovsky, Ph.D. - Licensing AssociateTinieka Triplett - Sr. Administrative Services AssistantPAGE 3
UTRF October 2012 NewsletterUTRF Annual Maturation Funding AnnouncementThe University of Tennessee Research Foundation is announcinga call for submissions for the sixthannual UTRF Maturation Fundingprogram. Proposals are due into yourResearch Office (through TERA PAMS)by close of business October 16,2012. The program helps UT researchers further develop technologiesthat have potential for commercialsuccess. Up to 15,000 in direct costswill be awarded to the highest ranking proposals.disclosure. All proposals should generatenew data that validate the technology and increase its commercialreadiness. They should clearly describe how the expected results willincrease the commercial opportunities for the technology. Proposals that only generatebasic research results should not besubmitted. Identification of potential commercial partners for collaboration onthis proposal is encouraged.Guidelines Open to all UT researchers, faculty, staff and students at all campusesand institutes. Projects must be related to anexisting UT invention/creation disclosure, OR a proposal can be accompanied by a new UT invention/creationProposal Requirements Proposals should describe thetechnology and its existing data,plan of work, expected results,budget, and an assessment of howthe expected results will increase thecommercial opportunities for theDeadlines & ScheduleProposal receipt by your Research OfficeAwards announcedProject start dateProject completion dateFinal report dueOct. 16, 2012 at 5 p.m.Nov. 16, 2012Dec. 10, 2012Sept. 13, 2013October 11, 2013technology. Funds should be directed to labor,materials, and services necessary toachieve the proposed deliverable(s).Indirect costs are not allowed. Funds may not be used for PI salary, but may be used for student, postdoc, or technical staff support. Proposal should not exceed 3pages, excluding references, whichmay be included as a 1-page appendix. Therefore, the proposal plus theappendix must not exceed 4 pages. Proposal should be received bythe campus-specific research office(through TERA PAMS) by close ofbusiness October 16, 2012.Judging Criteria Demonstration of a path for commercial development Market potential Stage of developmentFor more information, please contact one of the following:David Washburn for all campusesexcept UTHSC, at davewash@utk.eduor 865-974-1882Janet Ralbovsky for UTHSC, at jralbovs@uthsc.edu or 901-448-1146UTRF accepting applications for its Commercialization AnalystInternship Program at the Knoxville officeThe University of Tennessee ResearchFoundation is continuing to grow itsCommercialization Analyst InternshipProgram and is currently acceptingapplications for 2013 internships.Commercialization analysts assist UTRFlicensing associates in the evaluation,marketing and licensing of cuttingedge technology developed at theUniversity.The intensive two-week trainingprogram provided by UTRF to suc-PAGE 4cessful applicants will assist them in abasic developing an understanding ofintellectual property law, market andindustry analysis, and licensing methods and techniques.Interns will get valuable experiencein highly marketable skills throughscreening technologies, participatingin inventor interviews, creating marketand industry analysis reports, researching prior art and assisting in ad-hocprojects in marketing and licensing.A total of four paid commercialization analyst internships are available toUT MBA, law, or other interested graduated students. Internships require 35hours per week in the summer and 10hours per week during the followingtwo semesters. The next internshipclass begins training in May 2013.Interested students should submit aCV, cover letter and references to utrf@tennessee.edu.
UTRF October 2012 NewsletterUT Vol Court Offers Entrepreneurial Workshops and Cash PrizeKNOXVILLE — Do you have an ideafor starting a business but aren’t surehow to start?The Anderson Center for Entrepreneurship and Innovation at theUniversity of Tennessee, Knoxville,College of Business Administrationwill offer the opportunity for students,faculty and the community to learnfrom entrepreneurs, venture capitalists,and business experts about gettinga company started. The agenda hasbeen revamped to utilize the latest inentrepreneurial education emergingfrom Silicon Valley.The Vol Court fall 2012 session begins September 25 and runs throughNovember 6. Workshop presenters arefrom various organizations throughoutTennessee, and all have experiencewith entrepreneurial companies.The seven-part series will be heldTuesdays at 5:15 p.m. in Room 201 ofthe Haslam Business Building.The November 13 session includesa pitch competition in which the toppresenting individual or team will win 1,000, and the second place team willwin 500. Students attending Vol Courtwill have the opportunity to betterprepare themselves for the upcomingcampus-wide Undergraduate BusinessPlan Competition.Session topics are: Sep 25: Customer Discovery and Validation Model; Entrepreneur SpeakerPanel Oct. 2: The Business Model Hypothesis Part 1: Business Model Canvas Oct. 9: The Business Model Hypothesis Part 2: Making Money; ResourceAssessment Oct. 16: Testing Your Hypothesis WithCustomers Oct. 23: Finding Investors at the RightTime Oct. 30: Preparing the Pitch Nov. 6: Pitch CompetitionVol Court is sponsored by the UTFederal Credit Union, the UT ResearchFoundation and Pershing Yoakley andAssociates.To learn more about the presenters,sponsors, and each session, visit https://www.facebook.com/VolCourt.UTRF Announces B. Otto and Kathleen Wheeley Award WinnersThe UT Research Foundation hasnamed University of Tennessee facultyresearchers Gabor Tigyi and Tami Wyattas winners of the B. Otto and KathleenWheeley Award for Excellence in Technology Transfer.ogy at the UT Health Science Centerin Memphis, and Wyatt is an associateprofessor of nursing and co-director ofthe Health Information Technology andSimulation Laboratory at the Universityof Tennessee, Knoxville.Tigyi and Wyatt will be presented withtheir awards during the Tech Councilmeeting hosted by UTRF on October 24,2012.“Dr. Tigyi and Dr. Wyatt are leaders intheir research fields, and their contributions are making a difference in healthcare, which leads to an overall increasein the quality of life for all Tennesseans.They are great examples of how theUniversity fulfills its mission of education, research and outreach,” said DickGourley, UTRF interim president.The Wheeley Award is given to UTfaculty who excel in the commercialization of university-based research results.The B. Otto and Kathleen WheeleyFoundation provides the award stipendof 5,000 through an endowment fund,which was established in 1989.Tigyi is Harriet Van Vleet Professorand chair of the Department of Physiol-Gabor’s scientific work has centeredon the biological properties of lysophosphatidic acid (LPA) and especiallyLPA’s role as a fundamental cell signaling factor. One of the drugs he helpeddevelop could inhibit potentially lethalinjuries from radiation exposure.Wyatt has made significant contributions through creative and innovativeapproaches to teaching and learning innursing education in the UT KnoxvilleCollege of Nursing and nationwide.The award is named for Otto Wheeley, a UT Knoxville graduate, who wasdeputy chair of the Koppers Companyand President of Kopvenco, a venturecapital subsidiary of Koppers in the early1980s and his wife Kathleen . Eager topromote technological entrepreneursin Tennessee, he returned to the stateand founded Venture First AssociationsInc. and formed a close alliance withhis alma mater to promote the commercialization of university-developedresearch.PAGE 5
overall,” Millhorn said. “An increased number of inventions will result in an increased number of opportunities to commercialize.” Among the companies spun out over the past 15 years, the most suc-cessful include Memphis-based GTx, a pharmaceutical company focused on developi
