HOW do you take particles in a test tube, or components in a tiny chip, and turn them into a $100 million company?
Dr. Robert Langer, 64, knows how. Since the 1980s, his Langer Lab at the Massachusetts Institute of Technology has spun out companies whose products treat cancer, diabetes, heart disease and schizophrenia, among other diseases, and even thicken hair.
The Langer Lab is on the front lines of turning discoveries made in the lab into a range of drugs and drug delivery systems. Without this kind of technology transfer, the thinking goes, scientific discoveries might well sit on the shelf, stifling innovation.
A chemical engineer by training, Dr. Langer has helped start 25 companies and has 811 patents, issued or pending, to his name. More than 250 companies have licensed or sublicensed Langer Lab patents.
Polaris Venture Partners, a Boston venture capital firm, has invested $220 million in 18 Langer Lab-inspired businesses. Combined, these businesses have improved the health of many millions of people, says Terry McGuire, co-founder of Polaris.
Along the way, Dr. Langer and his lab, including about 60 postdoctoral and graduate students at a time, have found a way to navigate some slippery territory: the intersection of academic research and the commercial market.
Over the last 30 years, many universities ? including M.I.T. ? have set up licensing offices that oversee the transfer of scientific discoveries to companies. These offices have become a major pathway for universities seeking to put their research to practical use, not to mention add to their revenue streams.
In the sciences in particular, technology transfer has become a key way to bring drugs and other treatments to market. ?The model of biomedical innovation relies on research coming out of universities, often funded by public money,? says Josephine Johnston, director of research at the Hastings Center, a bioethics research organization based in Garrison, N.Y.
Just a few of the products that have emerged from the Langer Lab are a small wafer that delivers a dose of chemotherapy used to treat brain cancer; sugar-sequencing tools that can be used to create new drugs like safer and more effective blood thinners; and a miniaturized chip (a form of nanotechnology) that can test for diseases.
The chemotherapy wafer, called the Gliadel, is licensed by Eisai Inc. The company behind the sugar-sequencing tools, Momenta Pharmaceuticals, raised $28.4 million in an initial public offering in 2004. The miniaturized chip is made by T2Biosystems, ?which completed a $23 million round of financing in the summer of 2011.
?It?s inconvenient to have to send things to a lab,? so the company is trying to develop more sophisticated methods, says Dr. Ralph Weissleder, a co-founder, with Dr. Langer and others, of T2Biosystems and a professor at Harvard Medical School.
FOR Dr. Langer, starting a company is not the same as it was, say, for Mark Zuckerberg with Facebook. ?Bob is not consumed with any one company,? says H. Kent Bowen, an emeritus professor of business administration at Harvard Business School who wrote a case study on the Langer Lab. ?His mission is to create the idea.?
Dr. Bowen observes that there are many other academic laboratories, including highly productive ones, but that the Langer Lab?s combination of people, spun-out companies and publications sets it apart. He says Dr. Langer ?walks into the great unknown and then makes these discoveries.?
Dr. Langer is well known for his mentoring abilities. He is ?notorious for replying to e-mail in two minutes, whether it?s a lowly graduate school student or the president of the United States,? says Paulina Hill, who worked in his lab from 2009 to 2011 and is now a senior associate at Polaris Venture Partners. (According to Dr. Langer, he has corresponded directly with President Obama about stem cell research and federal funds for the sciences.)
Dr. Langer says he looks at his students ?as an extended family,? adding that ?I really want them to do well.?
And they have, whether in business or in academia, or a combination of the two. One former student, Ram Sasisekharan, helped found Momenta and now runs his own lab at M.I.T. Ganesh Venkataraman Kaundinya is Momenta?s chief scientific officer and senior vice president for research.
Hongming Chen is vice president of research at Kala Pharmaceuticals. Howard Bernstein is chief scientific officer at Seventh Sense Biosystems, a blood-testing company. Still others have taken jobs in the law or in government.
Dr. Langer says he spends about eight hours a week working on companies that come out of his lab. Of the 25 that he helped start, he serves on the boards of 12 and is an informal adviser to 4. All of his entrepreneurial activity, which includes some equity stakes, has made him a millionaire. But he says he is mainly motivated by a desire to improve people?s health.
Operating from the sixth floor of the David H. Koch Institute for Integrative Cancer Research on the M.I.T. campus in Cambridge, Mass., Dr. Langer?s lab has a research budget of more than $10 million for 2012, coming mostly from federal sources.
The research in labs like Dr. Langer?s is eyed closely by pharmaceutical companies. While drug companies employ huge research and development teams, they may not be as freewheeling and nimble, Dr. Langer says. The basis for many long-range discoveries has ?come out of academia, including gene therapy, gene sequencing and tissue engineering,? he says.
He has served as a consultant to pharmaceutical companies. Their large size, he says, can end up being an impediment.
?Very often when you are going for real innovation,? he says, ?you have to go against prevailing wisdom, and it?s hard to go against prevailing wisdom when there are people who have been there for a long time and you have some vice president who says, ?No, that doesn?t make sense.???
Pharmaceutical companies are eager to tap into the talent at leading research universities. In 2008, for example, Washington University in St. Louis announced a $25 million pact with Pfizer to collaborate more closely on biomedical research.
But in some situations, the close ? critics might say cozy ? ties between business and academia have the potential to create conflicts of interest.
There was a controversy earlier this year when it was revealed that the president of the University of Texas M.D. Anderson Cancer Center owned stock in Aveo Oncology, which had announced earlier that the university would be leading clinical trials of one of its cancer drugs. ?Last month, the University of Texas announced that he would be allowed to keep his ties with three pharmaceutical companies, including Aveo Oncology; his holdings will be placed in a blind trust.
This article has been revised to reflect the following correction:
Correction: November 26, 2012
An earlier version of this article said that Dr. Robert Langer, with 811 patents, issued or pending,? was not far behind Thomas Edison?s total of 1,093 patents. The 811 is a global figure. Globally, Edison held more than 2,300 patents; 1,093 was his United States total.?
mariano rivera mariano rivera jobs report tiger woods masters 2012 nikki haley stan van gundy navy jet crash
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.