Event Details - ITEK - The Commercialisation Company of the University of South Australia
Seminars
Research In The Real World
This publication has been produced by the Australian Research Council to showcase examples of Australian research that are making a difference to our lives.
Technology funding
$30 million over 5 years
This collaborative venture aims to capture university research & take it towards commercialisation, creating successful spin out companies that in turn create economic opportunities, competitiveness and growth regionally and nationally. The Fund provides a new source of pre-seed capital to support agreed projects from inception to the point where they can be commercialised. The participating Institutions include: The University of Auckland, Monash University, Flinders University, University of South Australia and The University of Adelaide
ITEK revamps website to start path to success
After a three-month redesign process, the relaunched website delivers fresh insights on how to turn leading-edge research into a business that generates commercial returns for researchers, investors and the university.
ITEK’s marketing coordinator and web designer worked closely together to produce a stylish design with an easy-to-view and use layout that provides access to a comprehensive information resource.
The renovated website contains a detailed section that answers common questions about commercialising research, including the protection of Intellectual Property, the commercialisation process itself and options for funding.
As well as providing an overview of ITEK services and introducing its management team, led by newly appointed CEO Graham Smith, the website profiles the company’s technology portfolio of investment opportunities and success stories from its commercialisation activities.
The website also contains an index of ITEK’s latest news announcements and a calendar of forthcoming events, workshops and seminars.
ITEK delivers $800,000 return to UniSA
UniSA’s technology transfer arm ITEK has delivered an $800,000 dividend to the university, earned from its investment and licensing activities during 2008.
ITEK CEO Graham Smith presented a cheque for the dividend to UniSA Vice Chancellor Peter Hoj, who said the funds would be used to assist further research activities within the University. ITEK’s 2008 dividend brings the company’s total contribution to UniSA during the past five years to nearly $5 million, a powerful performance that distinguishes ITEK as one of the most profitable technology transfer offices in Australia.
A core focus of ITEK is its ability to identify and develop research from the University of South Australia that can contribute to the innovation, vitality and job-building capacity of industry within South Australia and nationally. Mr. Smith said: “ITEK engages with both university researchers and industry executives, to help shape the research effort, to identify industry requirements and to nurture potential investors as we recognise market opportunities”.
During 2008, ITEK generated revenue through a range of activities including investment dividends, royalties from licensing agreements and capital gains from the sale of its investments. As well as revenue from its fully-owned subsidiary GTA, ITEK’s earnings came from the sale of a company it had invested in to a multinational organisation. It also received royalty streams from licensing agreements in the areas of water treatment, water purification and pollution treatment technology.
Welcome New Chairman
UniSA's commercial arm, ITEK, has recently welcomed John Grace as its new Chairman, bringing extensive experience in the commercial development of leading-edge science, specifically biotechnology.
He is currently the director of iBIO Pty Ltd Consultancy, providing advice to clients in research commercialisation particularly in the biotechnology industry. He is also a member of the Council of the Australian Institute of Marine Science and a Vice President of the Academy of Technological Sciences and Engineering.
He says he is looking forward to being part of the ITEK and UniSA team.
"The University of South Australia is a dynamic organisation and ITEK is one of the few successful commercialisation companies of Australian universities," he said.
"The translation of research by commercial routes is a legitimate and important way by which the benefit of university research can be delivered to the community.
"The translation role is the essence of ITEK and an area in which I have a very strong interest. I am pleased to be a part of a dynamic team, which in the coming years should further substantiate its strong position under the leadership of its CEO Graham Smith."
The new appointment follows the retirement of former Chairman Kevin O'Brien. There are currently seven ITEK board members, with two-year appointments. ITEK is UniSA's commercial arm and is responsible for developing commercial opportunities from research that is undertaken by the University.
$2.52 Million Deal for CPR Pharma Services
CPR Pharma Services Pty Ltd, a spin-out from the University of South Australia, commenced trading in April 2009 after attracting funding of $2.5m from Terra Rossa Capital, ITEK Pty Ltd, and the South Australian Innovation and Investment Fund.
CPR was founded by UniSA in 1996 as the Centre for Pharmaceutical Research undertaking research activities as part of the School of Pharmacy and Medical Sciences. As CPR's activities expanded with an increasing focus on consulting services, a decision was made to spin-out the business to attract new investment and facilitate further growth.
Located at the BioSA Incubator, CPR employs 32 staff and offers specialised services supporting drug development for the biotechnology and pharmaceutical industries.
CPR is unique in Australia. Its services combine bioanalytical capability with clinical services including data management and the monitoring of studies. Its core clients are Australian biotechnology companies and global pharmaceutical companies attracted to the advantages of conducting drug development in Australia's rigorous yet accessible regulatory environment.
CEO Jason Valentine said the new investment provided CPR with capital for vital infrastructure and business expansion. "Raising this capital in the current global economic environment is a particular achievement and is testimony to the efforts of all involved," he said.
ITEK expects the company to create 26 new positions over coming years, targeting fresh graduates from pharmaceutical science, pharmacology and forensic science backgrounds in South Australia. CPR has also purchased and commissioned two mass spectrometers, equipping the company to supply unmet needs in the bioscience sector.
Mr Valentine said one of these spectrometers was the only instrument of its kind available in the Asia Pacific region. "The new equipment gives CPR's Bioanalytical Laboratory a clear competitive advantage in terms of capacity and technical capability," he said.
"My vision for the company is to become a significant CRO (Clinical Research Organisation) in the Asia Pacific region."
For more information on CPR Pharma Services, visit www.cprservices.com.au
ITEK shines light on path to entrepreneurship
UniSA commercialisation agency ITEK actively assists students to gain an insight into the opportunities and challenges of pursuing the path of entrepreneurship.
Key ITEK executives recently joined serial entrepreneurs and patent attorneys to present a lecture in the course called ‘Professional Studies', which involves professionals addressing students about real-life career experiences drawn from the process of commercialisation.
UniSA City West Campus lecturer Gerhard Schurer designed the course to assist students make the challenging transition from university life to a professional career.
ITEK General Manager Chris Hill discussed the process of protecting intellectual property ownership and outlined how students should go about protecting their valuable ideas - now and in the future.
"ITEK can assist students and staff in the identification of ideas, provide a comprehensive assessment of the market and define business and financial strategies for moving through the stages of the commericalisation process," explained Mr. Hill.
Madderns Registered Patent and Trademarks Attorney Ms. Adele Flego explained that the various forms of intellectual property made it important to obtain professional advice to protect intellectual property.
"Securing intellectual property rights early in the commercialisation process may contribute to a project's attractiveness to further investment," said Ms. Flego.
ITEK Commercial Project Manager Dr Stephanie Agius went on to outline what investors were looking for when they assessed technology-related deals. "As an entrepreneur and inventor, you need to target the type of investor you approach for financial investment," said Dr. Agius.
"Different types of investors will fund different stages of technology commercialisation depending on the risk and retrospective reward. For example, venture capitalists won't fund early stage technology whereas technology transfer offices including ITEK in addition to Government funding can bridge this gap."
ITEK maintains professional relationships with a variety of external consultants including Patent and Trademarks Attorneys, business angels, venture capitalists and entrepreneurs to facilitate access to various sources of funding and provide valuable strategic advice during the stages of technology commercialisation.
Access to these valuable resources enables ITEK to bridge the gap in funding between start-up and fast growth phases for businesses.
By providing sound commercial advice, ITEK assists University of South Australia staff and students to make well-informed decisions about how technology commercialisation can add value to their publications, research and professional development.
New SA biotech company improving therapeutic drug efficacy
A new biotechnology company focused on reformulating and developing therapeutic drugs has been formed by ITEK, the commercialisation arm of UniSA.
Ceridia Pty Ltd, based in Adelaide South Australia, is commercialising a novel method of reformulating oil soluble compounds.
ITEK Chief Executive Graham Smith says Lipoceramics - a silica-lipid nano-encapsulation platform technology - has been developed and protected by patents worldwide.
"The technology enables the pharmaceutical and biotechnology industry to improve the efficacy, bioavailability and stability of drugs and help reduce their time to market," Mr Smith says.
"Developed by scientists at UniSA's Ian Wark Research Institute, it also offers a means of improving existing drugs to be better therapeutics."
Ceridia has been awarded a $250,000 Business Development Initiative grant by BioInnovation SA to conduct validating clinical trials.
Ceridia scientific founder and Ian Wark Research Institute Associate Director of Nanomedicine Professor Clive Prestidge says the grant, as well as enabling clinical trials to get underway, helps establish Ceridia as a clinically-focussed, commercial and privately-owned company to bring the LipoCeramic platform to market.
Mr Smith says the LipoCeramic technology is at the cutting edge of nanomedicine research. "It is very rewarding to work with talented and dedicated researchers at the Wark who develop technologies that make good drugs much better," Mr Smith says.
BioInnovation SA CEO Dr Jurgen Michaelis says BioInnovation SA is proud to have supported ITEK and Ceridia.
"World class technologies that are developed locally are important to the region and the biotechnology industry as a whole. We look forward to seeing Ceridia succeed in this very important sector," Dr Michaelis says.
BACKGROUND INFORMATION
Ceridia
Ceridia is a privately owned spin-out company of the University of South Australia. Ceridia is commercialising a novel method of reformulating oil-soluble compounds. A silica-lipid nano-encapsulation based platform technology has been developed and protected by patents worldwide. This technology enables the pharmaceutical and biotechnology industry to improve efficacy, bio-availability and stability of drugs and help reduce their time to market. It also offers a means of improving existing drugs to be better therapeutics. The technology is clinically proven to be completely safe, uses no synthetic, toxic or corrosive solvent. The manufacturing process is straightforward and can be quickly transferred into most API
manufacturing sites and requires no additional capital expenditure. Human clinical trials also indicate improved clinical profile and quicker drug uptake.
ITEK
ITEK is a commercialisation company wholly owned by the University of South Australia. Its strategy is to create long-term value through the licensing of Intellectual Property (IP) and the creation of spin-off companies from research conducted at the University.
ITEK's primary objective is to deliver long-term economic value and community benefit from research conducted at UniSA. These benefits focus on commercialising technology by applying knowledge to create and grow companies, products and services, establishing and developing collaboration opportunities with industry, building the University reputation and delivering a financial return. Ceridia is ITEK's ninth spin-out.
Ian Wark Research Institute
The Ian Wark Research Institute (The Wark) was founded in 1994 and is a flagship research concentrations at the University of South Australia (UniSA). Named in recognition of eminent Australian scientist Sir Ian William Wark, The Wark has established a reputation for solving complex industry problems through the application of excellent science and technology. The Wark holds a unique position in the Australian research scene as the government-sponsored Australian Research Council (ARC) Special Research Centre for Particle and Material Interfaces.
BioInnovation SA
Since the establishment of BioSA in 2001, the number of bioscience companies in South Australia has doubled. Approximately 100 bioscience companies currently operate in SA, employing more than 1,700 people and generating about $282 million in revenue.
Contact Mark Bruce Office (08) 8302 5311 Mobile 0433 785 787 Email mark.bruce@itek.com.au
Aus-NZ companies sign Collaboration Agreement to develop new drugs for veterinary sector.
Biotech industry expert to head up ITEK
Business development and biotechnology industry expert Dr Stephen Rodda has been appointed as CEO of the University of South Australia's commercialisation arm, ITEK.
Currently working in dual roles as Business Development Director at Bio Innovation SA and Senior Investment Manager at Terra Rossa Capital Pty Ltd, Dr Rodda will commence with ITEK in the next few months.
With a combined 13 years of experience at Business Development Director, Chief Executive and Director levels within innovation and technology development companies in the areas of scientific research, technology commercialisation and investment management, Dr Rodda says he is passionate about the enormous potential to develop technologies pioneered in Universities for successful transfer into the market place.
Dr Rodda was educated at the University of Adelaide where he gained a first class honours degree, a PhD in Biochemistry and was awarded the University Medal.
Subsequently he was awarded the prestigious CJ Martin and Arthritis Foundation fellowships for a post doctorial position at Harvard University.
With a successful track record in attracting grant funding, numerous publications in high-impact peer reviewed journals and having personally generated patentable innovations for commercialisation, Dr Rodda has a unique depth of understanding of academic research and the steps to commercialisation.
On his return to Australia, he continued his studies at La Trobe University, completing an MBA and becoming a graduate of the Australian Institute of Company Directors.
"In my time at Harvard I was exposed to a continuous stream of well-funded research and this really highlighted the benefits of good processes and the development of an entrepreneurial culture in delivering excellent outcomes," Dr Rodda says.
"I believe there are many features of the Harvard model that could be adopted successfully by Australian universities in pursuit of best practice in this sector."
In his leadership roles Dr Rodda has been actively involved in technology commercialisation at every stage of the process including the funding and management of early stage companies.
He has considerable experience in the creation and implementation of technology development and intellectual property (IP) strategies and has represented SA's biotechnology industry with great success.
Dr Rodda has played an active role in the formation and financing of more than seven new companies and assisting in the technology development and strategy for executing several key licensing transactions.
He will replace the outgoing CEO; Graham Smith who has taken on a new role as CEO of one of New Zealand's most active R&D hubs, the New Zealand Crown Institute ESR.
The ITEK board thanked Graham Smith for his strong contribution and welcomed Dr Rodda to the leadership role at ITEK for what it believes will an exciting new phase for ITEK.
Media contact:
Michèle Nardelli tel 83020966 mobile 0418 823 673 email michele.nardelli@unisa.edu.au
News and Events
- Biotech industry expert to head up ITEK
- Aus-NZ companies sign Collaboration Agreement to develop new drugs for veterinary sector.
- New SA biotech company improving therapeutic drug efficacy
- ITEK shines light on path to entrepreneurship
- $2.52 Million Deal for CPR Pharma Services
- Welcome New Chairman
- ITEK delivers $800,000 return to UniSA
- ITEK revamps website to start path to success
- Technology funding
- Research In The Real World
- Seminars