This was a complex series of transactions and activities related to commercializing technology arising from a university. The rights involved had arisen from a series of institutions and come through a number of upstream licensees. These rights included technology arising from U.S. institutions and a research consortium.
There was an opportunity to access significant government funding and attract millions in private investment.
The project involved:
- Amending upstream license agreements to make the overall transaction acceptable to investors;
- Clarifying expiry of various options and projects involving the technology with other potential collaborators;
- Setting up a new company (NewCo) as a vehicle to receive the private investment;
- Putting in place licenses with NewCo, as well as a shareholder agreement and subscription agreements, involving institutions, private investors and individuals
- Putting in place outsourcing agreements and other agreements, including research and employment agreements.
The overall transaction was very successful: millions of dollars in private investment were attracted to advance the technology. NewCo was created with an independent Board of Directors and a great foundation was established to commercialize this exciting, innovating technology.