Cincinnati Children’s Hospital Medical Center Search For Managing Director Center for Technology Commercialization October 2015

Introduction Cincinnati Children’s Hospital Medical Center (CCHMC), founded in 1883 and one of the premier pediatric medical centers in the world, seeks nominations and applications for the position of Managing Director of the Center for Technology Commercialization (CTC). The Managing Director is the senior line manager within CCHMC responsible for technology commercialization, including associated industry and venture relations and related business development opportunities, on behalf of the institution. In this role, the Managing Director will report both to the Senior Vice President, Strategy and Growth and the Chief Medical Officer, two of CCHMC’s executive officers and work closely with other senior leaders. The new Managing Director will have responsibility for creatively shaping and building the CTC’s programs to increase and optimize the use of the CCHMC’s science, clinical expertise, and intellectual property to improve human health, expand productive and mutually beneficial collaborations with industry and venture, and contribute to CCHMC’s future plans and strategy. This is a unique opportunity to build on an already strong program and develop new models for industry relations, business development, and technology commercialization. The Managing Director will be responsible for CTC’s emergence as the best such program for pediatric medical centers and one of the best for all academic medical centers. Successful leaders at CCHMC value collaboration, transparency, respect for others and a strong commitment to making a difference in children’s health. The new Managing Director must mirror these values as he/she carries out his/her assignments in support of the institution’s mission and goals. Additionally, the Managing Director will be skilled at working collaboratively with scientists, clinicians, and other multi-disciplinary partners, to identify science with significant commercial potential, and have the experience and expertise to develop beneficial relationships with external entities, governmental agencies, and other domestic and international research institutions. In this regard, the Managing Director will be adept at identifying funding sources and potential partners for successful collaborations. Cincinnati Children’s Hospital Medical Center In its 2015 best children’s hospital survey, U.S. News & World Report ranked CCHMC No. 3 in the Honor Roll of top pediatric hospitals. CCHMC is also ranked in the top 10 for all 10 subspecialty categories. CCHMC rose to this level of national prominence over the past decades by recruiting top talent, expanding programs and services, building state-of-the-art facilities, introducing cutting-edge technology and research, driving innovative approaches to improving the quality and safety of care, and enhancing its distinctively patient-and-family-centered care environment. 2

CCHMC has 628 registered beds, including 93 inpatient psychiatry beds and 36 residential psychiatry beds. There were 1.2 million patient encounters in FY 2015 (July to June) with patients coming from all 50 states and over 57 countries. The main campus is in the central city with 15 patient care locations across Greater Cincinnati. CCHMC’s annual operating budget is $2.1 billion and it achieves an operating surplus. Having a distinguished research center embedded within a top-rated hospital allows outstanding scientists and clinicians to integrate their efforts to improve outcomes for children through basic science and translational research. CCHMC’s research program supports approximately $350 million a year in research activities, encompassing efforts across Pediatrics, Surgery, Anesthesiology, Radiology, and Patient Services departments. The active research portfolio is divided among funding from federal sources (78%), industry (11%) and foundations (11%). Currently, there are more than 1,000 federally sponsored research projects being conducted and CCHMC ranks 3rd among pediatric hospitals in total funding received from the NIH. CCHMC’s research program has generated a rich and broad portfolio of intellectual property for therapeutics, diagnostics, information technology, and device commercialization opportunities. A total of 1.4 million square feet are dedicated to research and clinical care integration. See Appendix for additional information on CCHMC and living in Cincinnati. Center for Technology Commercialization The CTC now includes a staff of nearly 20 – many of whom have participated in moving the operation to its current level of success -- organized into distinct, interconnected units: technology management, business development, marketing, operations and support activities. Reporting to the Managing Director are the Director of Technology Management, Director of Marketing, Director of Strategic Partnerships, Business Manager, and several staff positions. CTC’s annual operating budget is $5 million and the Managing Director will play a key role in allocating research acceleration and proof of concept funds to faculty. The staff are located in the center of clinical and research activities at CCHMC and have immediate access to the key researchers and clinicians. CCHMC benefits from a technology development ecosystem that includes multiple partners. CincyTech is a venture development organization that provides a range of services to start up companies and is a seed stage investor in startup ventures; it is a close partner of CCHMC and has help found and invested in several start ups based on CCHMC discoveries. Cintrifuse – which connects the region’s high-potential, venturebacked startups with advice, talent, and customers – works with several companies built around CCHMC intellectual property. Southwest Ohio includes several venture funds that invest in early stage and growth companies – these include Allos Ventures, River Cities Capital Funds, and Queen City Angels. The University of Cincinnati also 3

maintains a related though commercialization office.

separate

research

enterprise

and

technology

In the past decade, the CTC and its staff have achieved remarkable results:    

850+ patent applications and 275+ patents granted 150+ license agreements 8 start-up companies (including Assurex Health, Airway Therapeutics, Enable Injections, Bexion Pharmaceuticals, as well as others, all with great upside exit potential) $44 million invested in staff, patents, internally funded research programs, and additional funding from allied groups (including CincyTech) has produced over $70 million in licensing revenue, patent reimbursements, industry partnerships, and external grants, as well as significant value in private spin off companies in which CCHMC holds an equity stake.

Aspirations and Opportunities The success described above forms the base for future successes, and attaining desired status as the best program among pediatric medical centers requires growth on many fronts. These major areas of endeavor represent the current planning at CCHMC and the new Managing Director will review and revise, where appropriate, the plans and then develop priorities, operating programs, and staff teams to move the plans forward. A key endeavor is elevating CCHMC’s culture of innovation which can be achieved by a broad set of initiatives including, but not limited to:  

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Building an entrepreneurial, service oriented CTC that delivers friendly, high quality service to the faculty; Accelerating processes for the identification, development, and commercialization of intellectual property originating from the research of CCHMC’s faculty across the full spectrum of therapeutics, diagnostics, information technology, and devices. Adopting and helping to implement IP policies that incent and reward faculty for enlisting in the entrepreneurial activities in the institution. Bringing the value and techniques of commercialization to the faculty through workshops, panel discussions, innovation focused weeks, office hours and other activities; and Recruiting research and clinical faculty to join committees that advise CTC.

Operating a “gold standard” technology commercialization program is fundamental to achieving the goal of the best program among pediatric medical centers. This requires top decile performance in negotiating successful licenses, start-up creation, and funding on per capita based research funding. This can be achieved if the culture across 4

CCHMC evolves to embrace commercialization, and CTC’s staff own the responsibility for both culture change and the results identified here, recognizing the need for strong support from key faculty and research leaders. Another element of success will be strengthening and broadening connectivity with industry and venture investors to bring products and services that will improve human health to the marketplace, and becoming a sought after partner for alliances and joint research as has been done with industry leaders such as Shire, GSK, and Alexion. In addition to this industry relations function, CTC will champion CCHMC’s business development efforts that could include shared enterprises (e.g., scaled cores with potential external value). Finally, CTC will contribute to CCHMC’s success by enhancing the returns that have been achieved to date. To do so, CTC will need to increase the number of new company start-ups and executed licenses all the while carefully judging the future value of sponsoring and investing in start ups vs. the value of licensing discoveries to existing companies. This requires a “nose for science” that comes from a group that has strong science backgrounds and proven commercial experience. Beyond the financial return, the leader of the CTC will need to continue to be driven by the overall institutional mission to ensure CCHMC remains a leader in improving child health. The success of the Managing Director will be judged on: success in building a culture of innovation within CCHMC as measured by increased disclosures, licenses, and new company start ups; new research alliances with industry/venture partners; development of new enterprises with external partners; and increased revenue contribution to the institution. Qualifications To achieve the goals described in this position description, the Managing Director will need to lead through influence and persuasion to develop and manage interwoven programs across a wide range of activities. The Managing Director will have a strong understanding of science and technology and a proven track record in the areas of industry/venture relations, business development, and technology commercialization. The new Managing Director must have: strong ethics and high integrity; tolerance and respect for individuality and diversity of perspectives and backgrounds; and a participatory management style that models the values of service, initiative, and collaboration. His/her experience must include demonstrated success in these endeavors in the commercial sector along with nuanced business judgment and personal maturity. Experience in medical center research along with alliance creation, joint ventures, partnering, and technology commercialization will be beneficial. A minimum of ten 5

years relevant experience is required; a master’s degree or equivalent is required and an MD and/or PhD will be advantageous. The successful candidate will have proven leadership skills in working effectively and building relationships with a wide range of internal and external constituencies, including faculty members, research staff, health care executives, investors, biotech leaders, industry executives, and public agencies. Please send nominations and applications to: Nicholas Brill and Jennifer McDonough Brill Neumann Associates Boston, MA 02116 [email protected] Cincinnati Children’s is an Equal Opportunity Employer. Qualified applicants receive consideration for employment without regard to race, color, religion, sex, national origin, age, genetic information, physical or mental disability, military or veteran status, sexual orientation, gender identity/expression, or other protected status in accordance with applicable federal, state, and local laws and regulations.

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Appendix More About CCHMC CCHMC has nearly 15,000 employees from over 97 countries and is the third largest employer in Cincinnati. CCHMC was inducted into the Business Courier’s “Best Places to Work Hall of Fame” after several years on their annual list. CCHMC values and regards diversity and inclusion as an organizational asset that benefits patients, families, visitors, employees, volunteers, suppliers and the community. The Human Rights Campaign named CCHMC a Healthcare Equality Leader in recognition of our care for lesbian, gay, bisexual and transgender (LGBT) patients and families and DiversityInc ranked CCHMC number 4 in their “Top 10 Hospitals and Health Systems” list. The Cincinnati Children’s Research Foundation (CCRF) is the administrative and research arm of CCHMC, encompassing 41 Pediatrics divisions—six of which are basic research divisions— as well as the research components of Radiology, Anesthesia and Surgery (approximately 800 Faculty); this is inclusive of three large integrated clinical and research institutes (Cancer & Blood Diseases Institute, Heart Institute, and Perinatal Institute), and multiple interdisciplinary Centers of Excellence. Margaret Hostetter, MD, is Chair of Pediatrics and serves as the Director of the CCRF, as well as CCHMC’s Chief Medical Officer. National Institutes of Health funding of $129 million (direct and indirect costs) represents the third largest among all US Children’s Hospitals or Pediatric Departments. Considerable institutional investments have been made for the development and operations of Shared (“core”) Facilities in support of the research mission. Shared Facilities span a range of activities, from molecular and cell biology to animal models, along with cores that support interventional and non-interventional clinical research. The CCRF manages ~1.5 million square feet of contiguous research space. The newest research tower, the “Clinical Sciences Pavilion” (also known as the “Location T”) opened in June of 2015, inclusive of a multi-disciplinary clinic dedicated to clinical research. Cincinnati Children’s has a long and rich history of research focused on diseases of children and young adults, with expertise in genetic, environmental, and developmental origins of disease. Research breakthroughs have included the Sabin oral polio vaccine, rotavirus vaccine (Rotarix®), and the first practical heart-lung machine. Cincinnati Children’s is accredited to conduct clinical research by the Association for the Accreditation of Human Research Protection Programs (AAHRPP). Currently, there are more than 2,600 investigator-initiated, and industry and federally sponsored active IRB protocols including pediatric Phase I-IV and select adult (vaccine and cancer) Phase IIV clinical studies. Education is also a key part of CCHMC’s mission. CCHMC trains health and research professionals from around the world in a wide range of fields. CCHMC serves as the Department of Pediatrics for the University of Cincinnati College of Medicine and is the 4th largest pediatric medical education program in the United States with over 30 7

Accreditation Council for Graduate Medical Education (“ACGME”) fellowship programs. In 2014, CCHMC’s pediatric medical education program was ranked as the No. 3 Department of Pediatrics among all university colleges of medicine by U.S. News & World Report. During FY 2014, CCHMC trained nearly 500 physician residents and over 200 clinical fellows. In addition, over 400 undergraduate medical students and over 2,300 undergraduate and graduate nurses were trained. CCHMC is proud to have been awarded recertification for its Magnet status by the American Nurses Credentialing Center. CCHMC's vision is “to be the leader in improving child health”–in the community, nationally and globally. CCHMC is achieving its vision through direct patient care to children in Greater Cincinnati and to those who travel from across the U.S. and around world for highly specialized services. In keeping with its mission of serving all children in need, CCHMC provided $267 million in free or discounted services to families unable to pay in FY 2014. CCHMC also achieves its vision through research that moves new knowledge from the laboratory to the bedside, through innovation and advocacy, and through partnerships with hospitals around the world. CCHMC currently has formal partnerships with hospitals in England, Bosnia, China, India, Israel, Saudi Arabia, and Nigeria, among others.

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Living In Cincinnati Cincinnati combines being a vibrant, diverse, cosmopolitan, and increasingly global American city with the warmth of a small town. Situated along the banks of the Ohio River, and built on seven hills, the city is set with easy access in a region of exceptional natural beauty, including extensive parks and forests. The surrounding community forms an eight-county area comprising southwest Ohio, northern Kentucky, and eastern Indiana, with a population of more than two million. Metropolitan city life, suburbs, and the countryside are all available within a 25-mile radius of Cincinnati Children’s. Cincinnati’s rich history is reflected in its distinctive neighborhoods. Given the region’s moderate cost of living, housing dollars go farther here than in many other major cities, and accommodate every taste in residential living. Cincinnati is also characterized by its strong family orientation, ranked No. 9 on Forbes' list of "The Best Cities for Raising a Family.” The greater Cincinnati area includes 50 public school districts and nearly 300 private schools. For elementary through high school age children, public school choices include neighborhood schools, specialized magnet schools, Montessori, performing arts and college prep. For higher education, the area has more than 30 colleges and universities, including the University of Cincinnati, Northern Kentucky University, Xavier University, and Miami University. Cincinnati is home to the headquarters of a number of Fortune 1000 companies including, Procter & Gamble, Johnson & Johnson (Ethicon), The Kroger Company, Macy’s, Inc., Convergys, Great American Insurance Company, Western & Southern Financial Group, and Fifth Third Bank. Cincinnati was ranked No.1 on Forbes' list of “least-costly locations to do business in the U.S.” The region is gaining notoriety as an entrepreneurial and innovation ecosystem with a growing number of private equity and venture capital companies. Cincinnati is also making a name for itself as a “foodie” destination. USA Today named the region one of "six small cities with big food scenes" due to the amazing revitalization of our restaurant scene. Vine Street in Over-the-Rhine, has been transformed into a lively boulevard of excellent restaurants and bars and new restaurants are sprouting up in The Banks development on the river as well. All over town, great neighborhood restaurants—many with a passion for locally sourced ingredients—are delivering exceptional dining experiences. Great shopping experiences can also be found in every corner of the region—at upscale department stores such as Saks and Nordstrom, as well as neighborhood boutiques in O’Bryonville, Hyde Park, Clifton, and Northside.

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The Greater Cincinnati region is a vibrant center of arts, culture, sports, and parks and recreation. Cincinnati is one of only 13 U.S. cities with professional companies in all five arts: ballet, opera, fine art museums, symphony, and theater. The following is a sampling of what Greater Cincinnati has to offer: Arts and Culture Organizations:  Cincinnati Symphony Orchestra and Cincinnati Pops  May Festival Chorus (oldest choral music festival in the country)  Cincinnati Opera (the country’s second oldest)  Aronoff Center for the Performing Arts  Ensemble Theatre  The Children’s Theatre  Broadway Series  Cincinnati Ballet  UC College Conservatory of Music  Riverbend Music Center Museums and Animal Attractions:  Cincinnati Art Museum  Contemporary Arts Center  The Taft Museum  Cincinnati Museum Center  National Underground Railroad Freedom Center  Cincinnati Zoo and Botanical Garden  Newport Aquarium  Krohn Conservatory Entertainment and Recreation:  Kings Island Amusement & Waterpark  Findlay Market  Cincinnati Walks for Kids (a community-wide CCHMC event)  Flying Pig Marathon  Heart Mini Marathon  Taste of Cincinnati  Oktoberfest Zinzinnati  Bunbury Music Festival (Alternative)  Buckle Up Music Festival (Country)  Cincinnati Music Festival (R&B, Jazz, Soul)  Cincinnati Fringe Festival (theatre, dance, music, poetry, visual art, film)  Riverfest: WEBN Labor Day Fireworks 10

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Party in the Park Kentucky Bourbon Trail

Professional and Collegiate Sports  Cincinnati Reds  Cincinnati Bengals  Western-Southern Open (ATP Masters Series Tennis)  Cincinnati Kings Soccer  Cincinnati Cyclones IHL Hockey  University of Cincinnati Bearcats  Xavier University Musketeers  Northern Kentucky University Norse  Miami University Redhawks For more information about living in Cincinnati, see http://www.cincinnatichamber.com.

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