Intellectual property getting there

No Biotech can get much cheaper a well-characterized clinical candidate with a good backup, and yet they do not have this money per project. If they sell their intellectual property earlier, there is no value added (i.e., no profit), and royalties are far down the line when... 

In Europe, some of the universities will charge a fee. This gets to the issue of overhead. They actually make money. A decision in that case was, Okay. We aren t going to argue with you on intellectual property. Who knows whether anything will come out of this research Who knows whether there s going to be an invention You pay us a fee, right up front, versus uncertainty later, and you get to own the IP. We know exactly what that s worth. Very few U.S. universities ever think about that. 

---