UCLH signs research commercialisation agreement with UCL

UCLH has signed a landmark agreement with UCL and UCL Business, the university’s technology transfer company.

The agreement will simplify the commercialisation of any joint research and innovation, and ensure that any financial proceeds are shared equally.

It will also make negotiations frictionless and put an end to complex deal-by-deal negotiations.

The deal allows for the proceeds of commercialisation to be split in half between UCL and UCLH, after the deduction of rewards for individual inventors and the costs of commercialisation.

UCL has signed a similar agreement with Great Ormond Street Hospital (GOSH).

Tim Jaggard, UCLH deputy chief executive and chief financial officer, said:

"We are delighted to sign this landmark agreement with UCL. It provides a strong foundation for even closer collaboration with our key university partner, as we develop new and innovative technologies and treatments for our patients.

"It also enables a fair and equal distribution of any commercial income which we intend to reinvest into UCLH to support the services we provide to patients.”

Professor Geraint Rees, UCL Vice-Provost (Research, Innovation and Global Engagement) said:

“UCLH and GOSH are close and longstanding partners. This simple, standard and fair agreement between the three partners will be attractive to investors, eliminate the need for time-consuming case-by-case negotiations and ensure any financial proceeds come back as quickly as possible into the local NHS and university ecosystem.

"But most importantly, this agreement will shorten the time for us to create new technologies and treatments that will benefit patients both in London and throughout the UK.”

The agreements were signed by the parties at UCL’s Grant Museum of Zoology on Monday evening.