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AdvaMed Accel Releases University Tech Transfer Best Practices Guide
WASHINGTON, D.C. – AdvaMed Accel, the division of the Advanced Medical Technology Association (AdvaMed) focused on issues of concern to smaller medical technology companies, today formally launched a best practices guide designed to encourage and support interactions between medical technology companies and university technology transfer offices.
Developed in collaboration with the law firm Wilson Sonsini Goodrich & Rosati, the AdvaMed Accel University Technology Transfer Best Practices Guide aims to facilitate greater research and development interactions between academia and industry, with the potential to improve patient treatment options.
“Universities are the source of a considerable amount of cutting-edge research in patient care; when working with medtech companies, who have the resources to commercialize and distribute these new technologies, the innovation ecosystem is strengthened,” said Ashley Wittorf, Executive Director, AdvaMed Accel and Global Head, Investor Relations. “This Best Practices Guide serves to facilitate collaboration between these two groups of important stakeholders, leading to the development of new technologies to save and improve patients’ lives.”
The Guide’s authors employed strategic analysis tools and qualitative research methods to identify key areas for relationship development between medtech companies and university technology transfer offices. Input was gathered from early-stage companies, medtech investors, large medical device companies, incubators/accelerators, and the academic community in the development of the Guide.
The Best Practices Guide, which was previewed at AUTM’s Annual Conference in February 2019, provides an overview on the history of technology transfer and identifies four key factors vital for creating and maintaining relationships between medical device companies and universities. Most specifically, it highlights university and industry strategies for engaging key players within technology transfer, methods for identifying appropriate business representatives and leveraging liaisons to advance licensing negotiations, and an assessment of essential licensing terms.
Farah Gerdes, Partner, Technology Transactions, Wilson Sonsini Goodrich & Rosati, commented, “We hope that the application of the solutions outlined within this Guide will help to develop open and productive relationships between university technology transfer offices and medical technology companies, as well as more efficiently translate academic innovation to commercial products that positively impact patients’ lives.”
To learn more, visit AdvaMed Accel’s University Technology Transfer Project web page.