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Funding Opportunities at Wellcome. Fiona MacLaughlin Heather Chaffey. The Wellcome Trust. independent research-funding charity largest charity in UK established 1936 founder of company that developed AZT, FMD and Rubella funded from private endowment valued at £15 billion (March 2008)

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funding opportunities at wellcome

Funding Opportunitiesat Wellcome

Fiona MacLaughlin

Heather Chaffey

slide2

The Wellcome Trust

  • independent research-funding charity
  • largest charity in UK
  • established 1936
  • founder of company that developed AZT, FMD and Rubella
  • funded from private endowment valued at £15 billion (March 2008)
  • managed for long-term stability and growth
  • interests range from science to history of medicine
slide3

Mission and strategy

“To foster and promote research with the aim of improving human and animal health”

basic organisational structure
Basic Organisational Structure

Science Funding

Technology Transfer

Investments

Capital growth

of endowment

Programme related

investment

Creative Research

Equity & Equity Long/Short

Absolute Return & Buyout

Healthcare & Venture

Property & Infrastructure Private Equity

‘To foster and promote research with the aim of improving human and animal health’

slide5

Wellcome Trust

Philosophy

  • spend up to £4bn over next 5 years
  • how we work:
    • people & ideas - focus on individuals
    • programmes - big & brave grants
    • places - fund where we can make a difference
    • partnership - strategic partnerships
  • a committed funder of translational research
  • public engagement that aims to create an informed climate within which biomedical science can flourish
slide6

Improving innovation

Translational medicine

Key to an innovative healthcare and

pharmaceutical industry we must:

  • develop bench to bedside – bedside to bench approaches
  • optimize academia & industry links
  • develop innovative public private partnerships
  • reinvigorate undergraduate medical curriculum
  • provide flexible training routes
  • streamline approval processes
slide7

Dr Heather Chaffey

Grants Adviser, Neuroscience & Mental Health

Grants Management Department

(t) +44 (0)20 7611 8786

(e) h.chaffey@wellcome.ac.uk

overview
Overview

What we fund

Funding schemes

General information

The application process - background & tips

what do we fund
What do we fund?

Biomedical and Veterinary Research

Technology Transfer Activities

History of Medicine Research

Biomedical Ethics Research

Public Engagement Activity

Direct Activities (e.g. Sanger Institute)

expenditure in ireland
Expenditure in Ireland

Dublin City University £626,051

Other Institutions £121,500

University College Dublin £2,912,892

National University of Ireland £150,169

University College Cork £1,202,081

Royal College Surgeons £1,830,699

Total

£16,325,739

Trinity College Dublin £9,479,227

funding schemes
Funding Schemes

Response - Mode Funding

Strategic Award Funding

Fellowships

eligibility requirements
Hold a research post in an eligible organisation

Have 5 years postdoctoral research experience

Must be able to sign up to the Trust’s grant conditions

Eligibility Requirements
project grants
Project Grants

High-quality, hypothesis-driven research

Salaries for 1-2 posts plus equipment, travel and materials for up to 3 years

Awards in the region of £150-£400k.

Support for pilot studies and international collaborations

programme grants
Programme Grants
  • Internationally competitive research programmes
  • Proven track record of research and funding.
  • Salaries for 3-4 posts for 5years plus equipment, travel & materials
  • Awards typically in the region of £900k-£1.5m

Internationally competitive research programmes

Broader aims - flexibility

Principal Applicant needs proven

track record of research and funding

Salaries for 3-4 posts, plus

equipment, travel and materials, for five years.

Awards typically in the region of

£750k-£1.5m

other schemes
Other Schemes
  • Equipment, Biomedical Resources & Technology Development Grants
  • Flexible Travel Awards: Sabbaticals
slide18

Strategic Awards

  • Flexible forms of support to facilitate research &/or training.
  • To 'add value' to excellent research groups.
  • Must involve a partnership with the host institution.
  • Normally for 5 years.
  • Open rolling call for proposals but the Trust may highlight particular areas of research.
strategic themed initiatives
Strategic & Themed Initiatives

African Institutions Initiative

Medical Engineering

Genome-wide Association Studies in Disease

Research in Neurodegenerative Diseases

Capital Awards in Biomedical Science

slide21

Personal Support Schemes

BIOMEDICAL SCIENTISTS

CLINICAL SCIENTISTS

Principal Research Fellowships

Senior

Senior Research Fellowships

Senior Research Fellowships

University Awards

Flexible Travel

Awards

Research Career Re-Entry

Fellowships

Intermediate

Research Career Development Fellowships

Intermediate Clinical Fellowships

Sir Henry Wellcome Postdoctoral Fellowships

Research Training Fellowships

Training

4 Year PhD Programmes

PhD Programmes

slide23

Personal Support Schemes – Biomedical Scientists

Senior Research Fellowships

Research Career Development Fellowships

Sir Henry Wellcome Postdoctoral Fellowships

slide25

Personal Support Schemes – Clinical Scientists

Senior Research Fellowships

Intermediate Clinical Fellowships

Research Training Fellowships

other personal support schemes
Other Personal Support Schemes
  • Flexible Travel Awards: Fellowships
  • Research Career Re-entry Fellowships
  • University Awards
slide29

What funding do we provide?

  • Directly incurred costs of research. We do not fund on a proportion of fEC
  • Travel allowances
  • Flexible funding allowance
  • We also fund some additional costs, including:
    • animal house facility fEC charge out rates
    • open access publishing
    • national and international resources
slide31

The Application Process

Good idea!

Preliminary application

Short-listing for full applications

Full Application

4 – 6 months

Expert peer-review

Funding Committee

Short-listing for interviews

Interview Committee

Decision

slide33

A ‘Good’ Application

  • A strong and original central hypothesis
  • Evident knowledge of the area and appropriate expertise
  • Clear research plan/easy to understand
  • Convincing preliminary data
  • Not over- or under- ambitious
  • All staff, equipment & animals carefully justified
  • Seek advice!
slide34

“...it involves techniques with which the applicant appears to have no prior experience and for which no preliminary data are proposed.”

“...the work described in this application is over-ambitious, it could not be achieved in the life time of the investigator.”

“The poor writing, referencing and proof reading of this application significantly detract from its overall quality.”

“I had only one problem with this application, I had no idea what they were trying to do...”

slide35

Peer Review Assessment

  • Importance of the problem
  • Strengths and weaknesses of application
  • - quality of science, feasibility
  • Standing of applicants – track record
  • Resources requested – are they appropriate?
  • Fellowships: person, project, place
slide36

Thank you!

Dr Heather Chaffey

Grants Management Department

H.Chaffey@wellcome.ac.uk

slide37

techtransfer@wellcome

Purpose

To maximise the impact of research

innovations on health by facilitating

their route to the ‘market’

  • early-stage R&D funder
  • focused on funding gaps
  • motivated by public good
translational funding
Translational Funding

Creative research

Applied Research

Development

Sales / Marketing

Government / Philanthropic grants

Translational

Funding/VP

Venture Capital

Private equity / public markets

Publication / Grants

Charitable mission

Sustainable advantage

Sustainable business

RISK IS DEFINED BY SECTOR DRIVER

technology transfer history
Technology Transfer History
  • 1995 - Intellectual Property and Industrial Relations worked with Cancer Research Campaign Technology
  • 1997 – Catalyst BioMedica Limited, wholly owned trading subsidiary with own £20 Million fund
  • 2003 – Technology Transfer Division with Translation Awards Fund
slide41

Medical Engineering

  • Joint initiative with the Engineering and Physical Sciences
  • Research Council
  • £41 M for four centres of excellence
  • Leeds University (John Fisher)
  • Focus on ageing in relation to early diagnosis & improved
  • prostheses for musculo-skeletal & cardiovascular disease
  • Oxford University (Lionel Tarassenko)
  • Focus on personalised treatment in chronic conditions such
  • as asthma, diabetes & cancer using telemedicine technology
  • Imperial College (Ross Ethier)
  • Focus on the management of osteoarthritis through improved
  • implants and tissue engineering approaches
  • Kings College, London (Reza Razavi)
  • Focus on medical imaging in cardiovascular disease and
  • cancer for improved visualisation to guide targeted therapy
what types of opportunity are charities looking for
Projects that relate to their mission

Usually disease-focused

Sometimes problem-oriented

Always fulfil an unmet need

Offer solutions that are ‘fit for purpose’

Projects at the appropriate stage

Different charities engage at various stages

Fund-raising charities are more patient-oriented

Many charities look for leverage of their funds

What types of opportunity are charities looking for ?
slide44

Gradient of unmet need guides where we engage

‘Neglected ‘Orphan ‘Niche ‘Speciality ‘Blockbuster

Diseases’ diseases’ market’ medicine’ drug’

$100M <$500M >$500M

malaria cystic fibrosis lupus melanoma antidepressants

leishmaniasis Gauchers MS osteoporosis pain

Chagas Turners syndrome necrolepsy dermatitis cholesterol control

slide45

Diagnostics

Vaccines

11%

6%

Therapeutics

Enabling

36%

Technology

21%

Medical Devices

Regenerative

21%

Medicine

5%

Diversity of Translation Award scheme

Applications received

Awards made

venture philanthropy versus private financing
Advantages

Charity aims don’t keep changing

Financial return is not the priority

Charities are well informed & well connected

Charity backing gives a company good PR

Disadvantages

Cultural differences may lead to tensions

Conflicts of interest can be tricky to manage

Shareholders need to understand the implications

Venture Philanthropy versus Private Financing?
value of philanthropic funding
Value of Philanthropic funding?

“Increase number of scientists who can translate drug discoveries into effective new medicines”

“One proven route to [drug discovery] is innovation forged through synergistic industrial-academic collaborations”

“Enhance drug R & D efforts in non-profit institutes”

funding in europe inc r of ireland
Funding in Europe (inc. R. of Ireland)
  • Strategic mode
  • Institutions/registered company
  • SDDI – follow usual route
  • Translation award – invite only
slide49

Strategic Translational funding Ireland

  • Core to the Trust’s own initiatives and objectives
  • Exceptional science
  • Trusts investment is of the order necessary to achieve programme goals thus no financial ceiling (within reason!)
  • Co-funding is welcome
  • Invite only (except SDDI)
  • Funding meetings approximately every 12 weeks
  • No small-molecule therapeutic programmes
  • Work in partnership with the Trust to achieve the commercial translation of targeted technologies
key criteria
Key Criteria
  • Ultimate healthcare benefit and impact
  • Scientific rationale and evidence
  • Competitive advantage / differentiation
  • Downstream feasibility, risks identified
  • Background assets and new assets for exit
  • Competencies and skills for implementation
typical process
Typical Process

Preliminary Application:Invitation

Full application

Scientific

/ Technical

Risk analysis

IP / Legal

Expert Opinions

Milestones

Regulatory

Due Diligence

Patent position

Business

Commercial

Strategy

Tech Transfer Challenge Committee

(TA)

Tech Transfer Strategy Panel

(STA)

application should have

Risk

Technical

….feasibility, team, market

....feasibility, validation

Milestones

Regulatory

….timings, content,

suitability

….awareness, preparation

Full Application

IP

Clinical

….current assets,

potential new IP

….informing clinical practice

Commercial

Business

….model, revenue generation,

further funding requirements

….competitive advantage,

opportunity

Application should have..
slide53

The Seven Deadly Sins

  • Poor project plan
  • Lack of key expertise/experience
  • Unclear competitive advantage
  • Unrealistic commercial exit
  • Under-resourced project
  • Major product development hurdles
  • Weak scientific rationale
slide54

“A few misconceptions”

“……you won’t fund companies”

Wrong - >£35M committed since 2003 with approximately 50:50 academia: company settings

“……of course the Trust will want to have some ownership of IP arising from the project”

No. The IP is owned by the university or company.

“….you only fund projects arising from Trust funded research”

No. We look to fund the best projects from any background

“....only interested in Biology”

Wrong. Technology Transfer has a history of funding projects ranging from computation

through to devices

irish projects funded to date
Irish projects funded to date

Louise Kenny

Phil Baker

Jim McLaughlin

John Anderson

Development of a metabolite biomarker-based screening test to predict pre-enclampsia

The VitalSens wireless vital signs monitor

Neil Frankish

Preclinical and clinical development of novel indanes as therapeutic agents for the treatment of inflammatory bowel disease

Liam Marnane

Development and validation of clinically robust neonatal seizure detection systems (based on neonatal EEG)

devices vital signs monitor
DevicesVital Signs Monitor

Objective

VitalSens Vital Signs Monitor for hospital use

Team

Jim McLaughlin, John Anderson, Michael Caulfield, ST&D

Features

Non-invasive patient worn monitor

Five Vital Signs : ECG, respiration rate, skin temperature, gait, SpO2

Data transmission via hospital wireless networks

devices neonatal seizure detection
DevicesNeonatal Seizure Detection

Objective

Development and validation of clinically robust, neonatal

seizure detection systems

Team

Liam Marnane, Geraldine Boylan, Gordon Lightbody

Janet Rennie

Features

Signal processing system using ECG, EEG

Adapt for use in neonates

Clinically test – avoid complex clinical data analysis

devices stepwise innovation
DevicesStepwise Innovation
  • World’s first fully portable video laryngoscope
  • Pioneering Design
  • Substantial Market
  • Existing equipment 1940’s based
diagnostics re profiling platform technologies
Diagnostics Re-profiling platform technologies

Objective

The rapid and selective detection of Mycobacterium tuberculosis by field deployable thermochemolysis gas chromatograph mass spectrometry

Strategic Features

Space research meets tropical medicine

WT had funded Beagle mission

slide60

Device

Pheromone baited traps for Sand-fly vectors

  • Objective
  • Field feasibility trial of synthetic sex pheromone analogue
  • of Sand-flies
  • Team
  • Gordon Hamilton
  • Features
  • High efficiency trap
  • Minimise spread of leishmaniasis
device injectable bone
DeviceInjectable Bone

Objective

Translating a new concept in injectable scaffolds into a regenerative medicine product

Team

slide62

Enabling TechnologySuperior Coatings

  • Objective
  • High throughput microarrays for discovery of polymers resistant to bacterial colonisation
  • Team
  • MorganAlexander
  • Martyn DaviesPaul Williams
  • Bob Langer
  • Dan Anderson
  • Hospital acquired infections are associated with implanted medical devices and more than 80%
  • are due to the formation of biofilms
therapeutic nanotechnology
TherapeuticNanotechnology

Objective

Development of heavy tamponades in vitreo-retinal

surgery

Team

Michael Garvey

device spider silk technology for meniscal repair
DeviceSpider silk technology for meniscal repair

Objective

Development and evaluation of a bio-resorbable, load-bearing,

tissue regenerative meniscal cartilage implant

Team

Nick Skaer, Orthox Ltd

Silkworm silk fibres are dissolved in bulk. Super strong and resilient tissue

scaffolds (Spidrex® can be made by emulating spiders spinning techniques.

Prototype Orthox device matches target mechanical properties and supports

cell growth, osteo-inductive and shows bone deposition 8 weeks in vivo

slide65

Industry

partnerships

historically

Industry partnerships

present

VC-backed biotech past

years 3-9 months 6-12 months 12-24 months 12 months

Assay Development

Lead Optimisation

Pre-clinical Evaluation

Target Discovery

‘Hit to lead

IND filing

Functional genomics

Proteomics

In vitro / in vivo disease association

Pharmacokinetic / dynamics

Toxicology package

Process development

Small scale GMP manufacture

1° and 2ry assay development

Screening strategy

Structural genomics

Medicinal chemistry optimisation

Biochemical / ADMET assays

In vitro / in vivo pharmacology

“To develop drug-like, small molecules that will be the springboard for further R & D by the biotech and pharmaceutical industry in areas of unmet medical need”

slide66

Seeding Drug Discovery Portfolio

Emerging Small Molecule Drug Discovery Portfolio

slide67

Drug DiscoveryNew Drug: Old Target

Objective

Development of highly selective β-1 adrenoceptor antagonists

for therapeutic application in patients with concomitant

respiratory and cardiovascular disorders

Team

Jillian Baker

Steve Hill

Barry Kellam

Peter Fischer

slide68

The Problem and the Market

“In 2004, total U.S. sales of beta blockers were approximately $1.9 billion, a 20% increase over 2003 sales. The market leader is AstraZeneca’s Toprol XL (metoprolol). Total U.S. sales of Toprol XL in 2004 were approximately $1.2 billion”

If 1% population should be on a b-blocker but cannot be because of side effects = $ 190 million in sales (2003 data)

BUT…

Will market use the product?

Pharma

Longevity of safety and efficacy data

translation funding to date
Translation funding to date

Output

£419 million leveraged

10 exits via M&A/listing or licensing

6 products launched

Input

180 projects supported

Range: £25K - £11.2M

£229 million committed

slide70

Dr Fiona MacLaughlin

Senior Business Analyst

Technology Transfer Division

(t) +44 (0)20 7611 8310

(e) f.maclaughlin@wellcome.ac.uk

slide71

Funding Mechanisms

Managing Wellcome Trust-funded Intellectual Property: Revenue/Equity Sharing

funding terms and conditions
Funding Terms and Conditions
  • ACADEMIA
    • Funding Agreement aligning with principles of Grant conditions
    • Trust leads on exploitation of commercialisable assets
  • SME
    • Unsecured Convertible loan (Equity conversion at 20% discount to next professional investment round)
    • Repayment options at Trust discretion (LIBOR + 2%)
  • PHARMA
    • Milestone / royalties based deals
    • Step in rights to ensure achievement of charitable mission
  • OTHER (based on circumstance)
    • Bespoke
slide73

Key Aims of IP Management

  • Achieve health care benefits
  • Promote & Maintain supportive environment for future biomedical research
    • Encourage open & innovative approach
    • Partnerships of funders, scientists, institutions and companies
slide74

Managing IP from Trust Grants

  • Wellcome Trust IP Policy & Grant Conditions
  • IP to vest in Host-Institution / University
  • Systems for identifying and managing IP
  • Incidental private benefit only
  • Appropriate way to achieve public benefit?
    • Case-by-case
    • IP protection?: Patent filing
    • Unprotected access?: Publication of research results
    • Need to attract follow-on R&D funding? (VCs; Pharma)
    • No reputational risk to Trust
slide75

Revenue / Equity Sharing

  • Trust sole funder: revenue / equity share applies to the total gross income / equity received
  • Trust not sole funder: revenue / equity share applies pro-rata to gross income / equity received taking into account:
    • Inventive contribution of inventors
    • Proportionate funding contributions of Trust, Institution and third party funders
    • Importance / value of respective funding contributions to the deal
slide76

Dr Fiona MacLaughlin

Senior Business Analyst

Technology Transfer Division

(t) +44 (0)20 7611 8310

(e) f.maclaughlin@wellcome.ac.uk