Hande Hanar elik Partner Gn Partners Legal Framework

Hande Hançar Çelik Partner, Gün + Partners Legal Framework for the Commercialization of University Inventions The Glakolens Case

A brief history …

1 - Protection of Inventions § 24. 09. 2014 Inventors signed an agreement with BU. § The patents will be owned by BU. § Commercialization of the inventions § income sharing

2 -Meeting with the Investor § «Pitch Deck» on 14. 10. 2015 (During IP 2015 Conference) § Exclusivity Agreement between ACT and BU on 20. 11. 2015

3 -Due Diligence & Investment Analysis § Due Diligence § Po. C (Proof-of-Concept) Study Agreement on 28. 06. 2016. § Agreement with Mr. Khalid Mentak on 09. 2016. § Investment Analysis report

4 -Memorandum of Understanding § Investors, BU and ACT signed the Mo. U on 24. 01. 2017. § General principles for the future relation § Mutual expectations

5 -Foundation of Company § Glako. Lens Biyomedikal Biyoteknoloji Sanayi ve Ticaret A. Ş. § Officially founded on 27. 02. 2017.

6 -Funding the Company § Investment And Shareholders Agreement § License Agreement § Both signed on 14. 04. 2017

6/a-Investment And SHA § Shareholder structure § ACT becomes shareholder of the company. § Commitments of Parties § Conditions of the subsequent investments § Key Performance Indicators

6/b-License Agreement § BU granted exclusive license to Glakolens § Royalties § An option to Patent rights § Patent valuation