Caplan - Canada at the Summit - (Page 17)

new KNOWLEDGE for a new economy CANADA AT THE SUM MIT It is still early days in the process. Some of the technology has been patented and others are pending. PlantForm is currently operating in Guelph with about eight employees. When the product is ready for market, those numbers will rise closer to 60. According to Stewart, the annual Herceptin sales currently total about $5 billion. He estimates that the generic version’s annual sales could reach just under $1 billion. The total estimated cost of the project is about $70 million. However, the largest part -- $45 million for drug trials -- will be borne by a major pharmaceutical partner. Early seed money came from Ontario Centres for Excellence’s Market Readiness Program as well as funds from the University of Guelph’s long-standing partnership with OMAFRA (the Ontario Ministry of Agriculture and Rural Affairs). As part of the IP (intellectual property) licencing agreement, the University received a six-figure payment for the legal fees related to applying for patent protection. As well, the university will also receive other milestone payments as the start up attracts more venture capital as well as a stream of royalties based on the revenues from the eventual drug sales. “Our research commercialization policy since March 2009 now states that the IP belongs to the researcher”, says Steve De Brabandere, associate director, business development office. “They can choose what they want to do. There are some exceptions -- arrangements made before that date, the involvement of other partners such as OMAFRA.” “Researchers can discuss plans with the university’s technology transfer office and have the staff look over the possibilities and options regarding the discovery’s viability etc. If researchers wish to proceed and seek patent protection, introduction to other funding agencies, they can work with the development office and agree on terms if the university puts up the money to pay for the legal fees related to patent applications.” So far, the University of Guelph has not formally documented the financial and other business impact of its commercialized research. However, its most recent agri-food success stories include the development of the OAC Bayfield soybean variety. In the 1990s, it was the most popular soybean in Ontario accounting for as much as 20 per cent of the province’s total soy acreage. Other notable discoveries have been the vaccine against shipping fever pneumonia in cattle and Dairy OH, an Omega-3 fatty acid enhanced version of fresh milk. LOOK BELOW THE SURFACE Aquaculture is the world’s fastest-growing food sector, providing high-quality protein for a hungry planet. As a global leader in fish health and veterinary epidemiology, the Atlantic Veterinary College at the University of Prince Edward Island stands firmly at the intersection of animal health, human health, and the health of our ecosystems. As a result, UPEI is pioneering the science needed to secure healthy fish, healthy environments, and healthy food — at home and around the world. UPEI IS HERE IC17560 APPLY KNOWLEDGE CREATIVELY & SHINE BRIGHTER Sheridan is a Canadian leader in education and a trusted partner in applied research. Sheridan is a member of: sheridaninstitute.ca www.newknowledge.ca http://www.sheridaninstitute.ca http://www.newknowledge.ca

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Caplan - Canada at the Summit