New Strategies for Starting Up

the perspective ofRamot at Tel Aviv University Ltd.

Ze’ev Weinfeld, Ph.D.

CEO

Technology Transfer

University-industry technology transfer is the process of moving research results from the laboratory to the marketplace

To foster, initiate and lead the transfer of To foster, initiate and lead the transfer of new technologies from the laboratory to new technologies from the laboratory to the marketplacethe marketplace

To strengthen the relationship between To strengthen the relationship between TAU's research community and the TAU's research community and the business community business community

Ramot’s Objectives

#2 (~20% value share)UK mouthwash market

x4™ Technology: The Next Level of NAND Flash

2 drug candidates in Phase IIAL108 (AD/MCI, Schizophrenia)AL 208 (MCI-CABG)

3 drug candidates in Phase IIPRX-03140 (AD)PRX-08066 (Pulmonary hypertension)PRX-07034 (AD, Schizophrenia)

Bio Pharmaceuticals PipelineBio Pharmaceuticals Pipeline

Company Disease/Condition Researcher Pre-Clinical

Clinical Phase I

Clinical Phase II

Clinical Phase III

Wyeth / Elan Alzheimer's disease Prof. Beka Solomon

Wyeth / Elan Alzheimer's disease Prof. Beka Solomon

Allon Therapeutics MCI/stroke Prof. Illana Gozes

Allon Therapeutics Alzheimer’s disease Prof. Illana Gozes

Allon Therapeutics Schizophrenia Prof. Illana Gozes

Epix Pharmaceuticals Pulmonary Hypertension Dr. Oren Becker, Prof. Zvi Naor

Epix Pharmaceuticals Alzheimer’s disease Dr. Oren Becker, Prof. Zvi Naor

BioLineRx Schizophrenia Prof. Weizmann, Dr. Rephaeli, Dr. Gilad

Concordia Pharm. Cancer Prof. Yoel Kloog

Epix Pharmaceuticals Obesity, AD & Schizoph. Dr. Oren Becker, Prof. Zvi Naor

BioLineRx Neuropathic Pain Prof. Weizmann, Dr. Rephaeli, Dr. Gilad

BrainStorm Cell Th. Parkinson's disease Prof. Eldad Melamed, Dr Daniel Offen

Sepal Pharmaceuticals Cancer Prof. Eliezer Flescher

Merz Pharmaceuticals Alzheimer's disease Prof. Ehud Gazit

Neurophage Pharm. Alzheimer's disease Prof. Beka Solomon

BiolineRx Parkinson's disease Prof. Weizmann, Dr. Rephaeli, Dr. Gilad

NasVax Alzheimer's disease Prof. Beka Solomon

Company Product/Field Researcher PreClin./ Prototype

Clinical Phase

EnzySurge Wound healing Prof. Amihay Freeman

Lavi Cardiatec Endothelial function Dr. Giora Amitzur

Althera Medical Radiotherapy Prof. Kelson, Prof. Kesari

Frutarom Anti-virus nutraceutical Prof. Michael Ovadia

Company Technology Researcher Development

DiSP Solar Energy Concentrator Prof. Avi Kribus

SanDisk Flash memory x4 technology Prof. Simon Litsyn

Scilense Microwave drill Prof. Eli Jerby

Enstorage Secondary fuel cells Prof. Emanuel Peled

Diagnostic, medical devices and agro pipelineDiagnostic, medical devices and agro pipeline

Engineering and exact sciences pipelineEngineering and exact sciences pipeline

Deal Models and Revenue Strategies

Research Funds

Fees and Milestones

payments

Running Royalties

Equity participation

Licensing DealsLicensing Deals

Licensing of IP, know how to an existing company

New venture formation / New venture formation / SpinoutsSpinouts

Licensing of IP to the start-up company

20-25% of licensing deals

Why Spinouts?

• Academic research discoveries often too

early for established companies

• Large company focus is global marketing

• Economic growth and job creation

• Diversify institution’s research/service

• Growth of entrepreneurial faculty

• Potential to share in value — upside

TAU Future Technology Partnership (TAU-Tech)

Return on investment

Tel Aviv University

technologies

Industry

Licensing: royalties and fees

Start-ups:Equity participation

Ramot:

Technology management

Business development

Technology transfer

investment

$8.5M

Proton Cond MembraneProton Conducting Membrane(Prof. Emanuel Peled)

Fuel Cell for Mobile Electronics

Research

Secondary Fuel CellsFor Energy Storage

TAU-Tech

Active commercialization

Spinout ExampleFuel Cell

Spinout Formation

Tel Aviv University Fund for Applied Research

Spinout Example

• Entrepreneur – Eran Yarkoni (CEO)• Later joined by Nachman Shelef (Chairman)• Founders team includes:

– Prof. Emanuel Peled (CSO)– Arnon Blum (VP R&D), a graduate Ph.D. student of

Prof. Peled

• Funding– Greylock Partners– Canaan Partners– Siemens Technology to Business Center LLC

Spinout Formation @ Ramot

• Seasoned entrepreneur• Negotiate term-sheet & agreement• Require minimum investment by a pre-determined time• Hands-off relationship

– Warrants or non-voting shares– No BoD participation

• Researcher can be officer, director, consultant and perform research @ lab– Ramot does not share in researcher’s extra consideration– IP owned by Ramot and under license– Conflict of interest taken care of by TAU

Proton Conducting Membrane(Prof. Emanuel Peled)

Fuel Cell for Mobile Electronics

Research

Secondary Fuel CellsFor Energy Storage

Tel Aviv University Fund for Applied Research

TAU-Tech

Active commercialization

Lessons LearnedFuel Cell

Spinout Formation

Thank You

Ze’ev Weinfeld, Ph.D.

CEO