What's New at 722

The UVA Licensing & Ventures Group is pleased to bring you What’s New at 722. Every other month we will be sharing thought-provoking insights from the licensing, legal and venture capital experts on our team.

What’s New at 722 will showcase the exciting research discoveries made nearly every day by the faculty, staff, and students at UVA, and the ways that LVG commercializes the technologies through strategic industry partnerships. 

Whether it’s engaging with UVA researchers to discuss their ideas, helping further a concept toward a marketable product or service, or facilitating legal protection of the ideas developed in labs, clinics, and across Grounds, LVG works with UVA innovators to give their technologies the best possible chance at reaching their full potential. 

October 2019

From the Desk of Michael P. Straighiff.. 

The new academic year is well underway and LVG is off to a running start. Thanks to everyone who came out to celebrate with us at our fall open house last month. It was invigorating to see so many new faces of those eager to get involved in UVA research commercialization activity. And to those familiar faces who joined us, we appreciate your continued support and enthusiasm for the growth of our UVA innovation community. Enjoy photo highlights from the event later on in this issue of What’s New at 722.

This fall, LVG is collaborating with the UVA economic development office and our community partner CvilleBioHub to revitalize an “EIR” program to accelerate startup formation with successful entrepreneurs, experts, and executives in residence. Our first cohort of EIRs includes many with strong ties to UVA as either alum or former employees of the university and each has significant experience in early tech commercialization - specifically in the industries emphasized in UVA's research portfolio.

Later in October, we are offering a two-session Technology Commercialization Workshop for graduate students, research residents, and post-doctoral fellows. Participants will gain insight into the technology transfer process which requires broad scientific expertise, business insight, and legal acumen to convert basic research into practical, real-world applications.

As always, we encourage you to engage early and often with our team throughout your research pursuits. To learn more about resources and services available to UVA faculty, staff, and students, please visit our website and share with your colleagues.

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Fall Programs

LVG Launches Entrepreneurs, Experts, and Executives in Residence Program to Guide Future UVA New Ventures 

Expanded program supported by UVA Economic Development and CvilleBioHub

LVG is launching a revitalized "EIR" program to accelerate startup formation with successful entrepreneurs, experts, and executives in residence. With support from the UVA Office of Economic Development, Albemarle County Economic Development, the City of Charlottesville Office of Economic Development (OED), and community partner CvilleBioHub, the EIRs will be available to offer guidance to novice entrepreneurs and to identify their next business opportunity from the UVA research portfolio. 

 "We can scale this program significantly to drive the commercialization of UVA technologies while contributing to the growth of the Charlottesville innovation ecosystem thanks to our strategic partners,” said Michael Straightiff, Executive Director of LVG. “These individuals have specific experience in the industries emphasized in UVA’s research portfolio, and many have connections as alumni or former employees of UVA. They share in our mission to steward ideas forged on Grounds into successful new ventures.” 

 This powerful new resource will offer UVA faculty and researchers access to seasoned professionals with experience in early-stage implementation of new ventures. The first cohort of EIRs includes leaders who are UVA alumni, founders, and investors who possess business acumen, industry experience with early tech commercialization, strategic planning, and fundraising.

“New venture creation is one of the pillars of economic development that drives job creation and helps attract and retain industry in Charlottesville,” said Pace Lochte, Assistant VP for Economic Development at UVA. “We are thrilled to support LVG as they elevate this program with expert industry veterans to launch new ventures from the UVA research portfolio.”

The program officially launched on October 1, 2019, and several EIRs have already begun work at LVG. Weston Fox, a UVA and Jefferson Scholar alumnus with more than 15 years of experience in healthcare business development, joined LVG in February 2019 to lead portfolio companies Warm Health Technology (WHT) and Antimicrobial Resistance Services (AMR). Kevin Combs, CEO and Managing Director of Keswick Pharmaceuticals, is a founder, entrepreneur, and investor who has been working closely with the LVG Seed Fund as an advisor since the fall of 2018.

Others who will be joining the cohort this fall include Darden alumnus Daniel Lynch who brings more than 25 years of experience in biotechnology and pharmaceutical companies. He has active board roles in several companies and most recently served as CEO and CFO of ImClone Systems Corp. There, he negotiated a major partnership with Bristol-Myers Squibb and helped secure FDA approval of its novel cancer treatment, ERBITUX.

LVG also welcomes Andrew Krouse, CEO, and founder of Cavion Pharmaceuticals and Chad Rogers, UVA alumnus, CEO, and co-founder of TypeZero Technologies to the program. Cavion and TypeZero are UVA startups that were acquired by leaders in their respective industries within the last year. Krouse led the acquisition of Cavion by Jazz Pharmaceuticals in August 2019, and Rogers is continuing his role as CEO of TypeZero since its acquisition by DexCom, Inc. in September 2018.

LVG will continue to add EIRs on an ongoing basis throughout the year as needs arise. UVA faculty members, researchers, and affiliated entrepreneurs are all welcome to contact the EIRs via the LVG licensing and new ventures professionals. Find more information about the program at lvg.virginia.edu.

Technology Commercialization Workshop 

October 29 & November 5 

4:00-6:30 p.m.  

Registration Required  

This fall, the UVA Licensing & Ventures Group is offering a unique opportunity for UVA graduate students, research residents, and post-doctoral fellows to gain a better understanding of how technology transitions from research projects to commercial products. During a two-part workshop hosted at the LVG offices at 722 Preston Ave, students will gain insight into the technology transfer process which requires broad scientific expertise, business insight, and legal acumen to convert basic research into practical applications.

Workshop participants will be exposed to all elements of intellectual property management and learn the necessary steps involved in effectively protecting and commercializing the results of scientific research. Students will learn how to evaluate an invention disclosure, prepare non-confidential summaries, and identify prospective industry partners. The LVG licensing team will also explain the negotiation of business terms of various agreements that govern university technology transfer.

Who: This workshop is intended for current University of Virginia graduate students, research residents, and post-doctoral fellows. It will be of particular interest to researchers in physical sciences, life sciences, biomedical sciences and engineering.

*Please note: Participants must be affiliated with the University of Virginia and have an active computing ID

What: A two-session workshop hosted by the UVA Licensing & Ventures Group for UVA graduate students, research residents, and postdocs, designed to give students a basic understanding of technology commercialization, and learn to identify the value of scientific and technological innovations to the world of industry, business, and entrepreneurship.

When: 

Tuesday, October 29 | 4:00-6:30 p.m.

Tuesday, November 5 | 4:00-6:30 p.m.

 *Please note: you must be able to commit to attending both sessions

Where: UVA LVG Office | 722 Preston Ave, Suite 107, Charlottesville, VA 22903

Benefits:

  • You’ll develop a great appreciation for real-world impact of scientific innovation
  • You’ll gain exposure to promising career options outside of academia
  • You’ll become eligible for a licensing internship with UVA LVG

How to apply:

We understand that your time is limited and valuable, so we ask that you fill out a brief survey, including your CV and a brief statement on the nature of your interest before 5:00 p.m. on Friday, October 18. LVG will use this information to tailor the workshop content to your specific interests and ensure that you have a meaningful experience. 

Link: https://forms.gle/216QXYZdpMnm...


UVA LVG Seed Fund & New Ventures

This fall marks the beginning of the fourth class of our Due Diligence in Seed Funds course for second-year Darden students. Throughout the year they gain hands-on experience learning to conduct diligence while assisting the LVG Seed Fund with eligible investment opportunities.

We're excited to launch our EIR program and expand our resources in new venture creation with experienced founders, domain experts, and leaders in technology commercialization. Their breadth of knowledge will be a great benefit to the next generation of entrepreneurs emerging from the University. Our portfolio is now comprised of seven companies based on UVA technologies that we support with business development, management strategy, and attracting syndicate partners.

We are actively looking for a Venture Associate to join our team, as Carleen Bowers has moved on to join a Boston-based agriculture-focused innovation group. If you're interested in learning more about the UVA LVG Seed Fund,  connecting with our EIRs, or getting involved, don't hesitate to reach me at creeden@virginia.edu.

Thank you to everyone who attended our fall open house!

Last month, LVG welcomed familiar and new faces to our incubator space on Preston Ave to connect and celebrate the start of an innovative academic year. 

As a service provider for the UVA research community, it is our responsibility to make sure our resources are known to faculty, staff, and students. We also believe it is our job to connect this community of innovative thinkers, entrepreneurs, and investors to maximize the potential of UVA research discoveries.

We hope to see you all throughout the year -- our doors are always open!

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Photos from the evening captured by Carrie Coleman.

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