 Two special opportunity areas for potential Novartis
OTC
SBIR-STTR collaborations:
Of the nine areas of potential SBIR
collaboration opportunity
offered by Novartis
OTC and around
which this latest
inknowvation@work®
session is organized, TWO
in particular both stand out as useful examples of needs-driven partnering
interest
(1) having
relevance
across the range of product and therapeutic interests of the
corporation and, perhaps
even more important
(2) not typically
the type of opportunity for the sort of detailed discussion around
potential
partnering that could be readily achieved by an individual small firm.
These two are:
- novel forms of drug delivery
for oral,
topical, transdermal or other products.
- Experience
indicates that many
SBIR awardees with primary focus not normally
targeted to pharma may have
capabilities with useful relevance to this task.
These would include those with a materials emphasis, membrane usage
experience,
nano-technology capability, coating techniques etc. Is that you?
- Opportunities
for consumer healthcare products and molecules with Rx-to-OTC switch
potential. Since
the mid-70s, some 90 ingredients,
indications, or dosage strengths have been switched from
prescription to nonprescription status, or have been newly approved.
That translates to over 700 OTC products now available. We
are aware of a number of
- SBIR-involved
firms - most in receipt of this mailing - that are either already
working on (or could be addressing) development
of an OTC
version of their product coincident with the prescription usage that is
likely their primary focus.
- Others
that are
focused to addressing reclassification of
current/ previous prescription products.
If your interests and/or competencies
extent to either of these two areas of partnering
focus, being involved in the inknowvation@work®
session c/would provide
unusual - a
highly valuable - opportunity to spend time with
relevant, senior, decision-making
Novartis
OTC personnel
-
to learn more about what they have in mind re. partnering in the space
- and to
make them aware of what you are about, and what you could bring to the
table
___________________________
...realizing
the
value of SBIR:
Developed and
managed by long-time SBIR advocate Ann
Eskesen
as a means of more
effectively enabling draw down of the value of what SBIR has
created, the ASSET
system - of which inknowvation@work
is a specialist, one-corporation focused version - is designed to
enable viable
and useful working
relationships between
- major/mid-sized
corporations in their role as Tech
Seeker
and
SBIR-involved
firms having relevant
skills sets/capabilities to address the external partnering needs as
those have been made known to the Innovation Development Institute by
the Tech Seeker involved
Tech seeker senior
management
involvement:
An
important
factor in th management of an inknowvation@work
session is the
event is always held at, or close, the location of a major Center for
that corporation. One of the major benefits of this siting of
the event is
that a
range
of relevant Tech Seeker personnel - executive, management and
technical
- are invariably actively event-involved at some level.
Better than most you
probably know that
this is not
at all the usual state of affairs.
At a minimum,
at previous inknowvation@work®
events
this involvement may be purely social but more
often it can
become business and technology development related.
In fact, it has
been our
experience that this type of active engagement
- serves
well to
give senior
decision-makers a powerful
sense of
just how good you guys really are.
- In turn,
this
has often meant useful buy-in to the notion of the busi- ness value of
active SBIR relationships to
the corporation....a factor that can be
important in pulling any particular deal and/or group of deals to
consummation.
By-invitation: relevant skill
sets and
capabilities
Present in Parsippany will be 30-35
SBIR-STTR-involved firms selected
from among
those who follow up on this General Alert email and, more
importantly, those who are responsive to the TOPs (Technology Opport-
unity
Projects) - all listed on the Event Site.
Selection process:
- Typically,
a few hundred, appropriately skilled
SBIR awardees receive from us
preliminary are-you-interested invitation by an email like this one.
This listing of potential participants is garnered
from the
record of achievement of each of them as indicated in our
comprehensive proprietary databases - business profile,
awards (SBIR and others), issued patents, professional and business
recognition, management bios, professional
papers etc
- Of that
group
some 50% visit the Event Site.
- About 40%
of
those actively engage the system - ask questions, submit White papers
etc
- As a
general
rule, some
50-60 stay the course and, by implication, are assume to be in the pool
from which Event Participants will be selected.
The final decision of which
SBIR awardees are invited is made by Novartis
OTC personnel
-usually around 30 small firms.
Typically it is our experience that these decisions by any
Tech Seeker are
grounded primarily in
- whether
there is reasonable likelihood of a match between what the
Corporation is seeking and what the small firm has to offer.
- the
further data that particular awardees have provided through the system
which suggest that they have
technology development
skills and
capabilities
relevant to
Novartis
OTC
indicated
areas of technical and business
interests
Those
representing these invited small firms will have opportunity to meet,
and have extensive
technology and business interaction, with a cross-section
of senior, decision-making personnel from the European HQ and
US Novartis
OTC
facilities.
The
ASSET
system
achieved track record overall of getting SBIR awardees to actual
working relationships
has been impressive to date. In the two-three years over which we have
offered
this, there have been hundreds of post-event interactions, dozens of
serious substantive discussion and many consummated deals.
These represent a level of
outcome that
is far
better, with respect we would suggest that any other SBIR Support Phase
III effort. For inknowvation@work®
sessions,
however, the extra factor of active
on-site engagement
of senior
decision-makers has meant that the yield-to-attendee
ratio of working
relationships and deals coming out of the sessions
has
been consistently better.
...
and in the final analysis, it's all about
getting
to an actual business relationship
Event
schedule:
How all this generally plays out is usefully indicated by looking at
the Working Program already posted on the Event site. There
will almost certainly be tweaks and fixes to the specifics of that
program until just before we convene but the overall structure and
format will be as indicated.
______________
Novartis
OTC: Strong
SBIR-STTR
involvement
already in place:
Those
with Novartis
OTC having
external outreach responsibility have
for some time been active in the various ASSETs related events - the
Annual
Forums and ...
focused on sessions etc.
Importaing, the parent corpor- ation Novartis
AG has already established a
strong presence with SBIR-STTR involved firms.
- The
Novartis
Corporate VC Fund has invested in THIRTY (30)
SBIR involved firms to date.
◦ Established in 1996 and
functional over that entire period, thes thrity investment represent
some 23% of all Novartis Venture investments having an
SBIR connection
◦ The
extent of this involvement ranks Novartis 13th in terms of all the VC
entities with SBIR-involved firms in their portfolio and 2nd only to
SR One (the investment arm of Glaxo) in ranked Corporate
VC Funds.
- Novartis
has
acquired FOUR (4) SBIR-involved firms
- but,
perhaps
even more telling, the corporation has (has had) working relationships
of various types with 42 SBIR-involved firms of which we are
aware.
Since
these are
not 'reportable events', it is likely that this number is actually
significantly higher.
Cost
of
your involvement?
- With Novartis
OTC assuming the role of
host, there will NO-COST to SBIR-STTR
involved firms for
- Pre-event
online involvement
- any
and all materials submission
- and/or
for Event Participation for those who are selected to attend
- Invited
attendees will be expected to cover all their own incurred cost of
travel to event site and overnight accommodations. To hold these costs
to reasonable levels
- Notification
of selection for involvement will be made as early as possible -
permitting advanced booking of travel
- The
effort will be to negotiate a block of rooms at the somewhat lower
corporate rate available to Novartis
- Consistent
with our normal practice, commission on deals which come out of the
event will be limited to
- the
first transaction only
- and
will be dollar-level capped.
Details
available on request.
Be reminded that Awardees with current Advanced Individual Account are
eligible for their usual 10% discount - in this case applied against
the Consummated Deal Fee.
Why
are we getting this
email?
If
you're in
receipt of this email, it means that a relevant
keyword/key-phrase search in comprehensive SBIR-STTR databases
suggests that work underway in the firm - with skills sets and
capabilities that suggests - is likely relevant to addressing
technology needs indicated by the featured Tech Seeker and almost
certainly of interest to them.
Contact
Us
This Event is
an initiative of:
Swampscott, MA 01907
(781) 595-2920
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