LES/AUTM 2003 Spring Meeting:
Setting the Gold Standard in Intellectual Asset Valuation

Meeting Homepage | Schedule at a Glance | Plenary Sessions | Add-On Seminars
Workshops | PDS Workshops | Fundamentals of Intellectual Asset Management
Register | Hotel | Philadelphia | About the Organizers

Thursday, May 8

8:30-9:15 a.m.
Innovation - the Gold Standard of the Pharma Industry
Judy C. Lewent, Executive Vice President and Chief Financial Officer and President, Human Health Asia, Merck & Co., Inc.

This session will discuss innovation as a key driver of the pharma industry. New products and technologies with their associated exclusive intellectual property rights form the basis for generating that innovation, which, in turn, results in true advances in patient care. Internal research and development efforts at Merck are supplemented and complemented through the entire spectrum of external arrangements, from early research programs to late-stage compounds and targeted acquisitions. Wall Street's view of intellectual property in the pharma industry will be examined as well as recent deal trends affecting all players - large and small - in the pharma/biotech sectors.

9:15-10:00 a.m.
A Retrospective Look at Licensing to Biotechs: How Well Has Value Been Created and Shared
Mark G. Edwards, Managing Director, Recombinant Capital, Inc.

10:00-10:30 a.m.
Coffee Break

10:30-11:15 a.m.
Panacea or Mirage? New Venture Development as a Strategy to Monetizing Early-Stage Technology
Josh Lerner, Jacob H. Schiff Professor of Investment Banking, Harvard Business School

Universities are increasingly embracing the formation and financing of new ventures to commercial early-stage technology as an alternative to the traditional licensing approach. Corporations, on the other hand, having experimented extensively with venturing initiatives in the late 1990s, are now turning their backs on these initiatives. These varied experiences raised the question of whether new venture development can be a viable strategy to monetize early-stage technologies. If so, how should these efforts be structured to avoid the many pitfalls that have bedeviled past efforts? This talk will review the experiences of corporations and academic institutions over the past three decades and draw a number of lessons for business development and technology transfer officials.

11:15 a.m.-12 noon
Managing the Success of Technology Transfer: Lessons Learned
Kerry Shad, Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan L.L.P.

Friday, May 9

The licensing of intellectual property has evolved over recent years from a discrete vehicle for extracting untapped value to an integral part of technology commercialization strategy. Ms. Webb will discuss the design of Motorola's Advanced Technology Businesses organization and how strategic licensing is employed to not only generate royalty revenue, but also to strengthen existing businesses and support fundamental new growth for the company.

9:15-10:00 a.m.
The Emerging Role of Biotechnology in the Growth of the Pharmaceutical Industry
Joseph Scodari, Company Group Chairman, Biopharmaceuticals, Johnson and Johnson Pharmaceutical Group

Over the past several years, the promise of biotechnology has begun to be realized with the commercialization of several important breakthrough products. This talk will reflect on the recent success of biotech in producing viable products, but more importantly, will focus on the emerging role of this platform in contributing major products in the years to come.