Public Release:  New handbook is an essential guide for scientists venturing into biomedical consulting

Cold Spring Harbor Laboratory

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Credit: ©2014 Cold Spring Harbor Laboratory Press

Cold Spring Harbor Laboratory Press is pleased to announce the publication of Connecting with Companies: A Guide to Consulting Agreements for Biomedical Scientists by Edward Klees, J.D. and H. Robert Horvitz, Ph.D. The book is an essential resource for academic scientists and physicians considering consulting work in biomedicine.

Academic scientists often find it challenging to negotiate consulting agreements with biotechnology or pharmaceutical companies. The legal language can be confusing, anxieties can occur on both sides, specifics concerning stock shares and options can be obscure, and there are pitfalls aplenty, yet raising objections or making counterproposals may feel awkward and potentially risky. The need for a book that helps scientists to address these concerns with clear and concise direction is how Connecting with Companies was born.

The authors, a seasoned attorney and a Nobel Prize--winning scientist, have extensive experience in reviewing and negotiating consulting agreements. In an accessible style, they guide scientists through key contractual issues, including intellectual property management, confidentiality, fees, indemnity, and stock options and classes, as well as the laws such agreements must satisfy.

This handbook provides a unique understanding of these topics, as well as crucial, often overlooked start-up issues such as 83(b) tax election and the financial implications of participating preferred stock. In both style and substance, Connecting with Companies is an indispensable guide for academics, lawyers, accountants, auditors, venture capitalists, and technology transfer departments of universities, hospitals, and research organizations.

Leading scientists and lawyers are praising Connecting with Companies. "This is the book I wish had been available when I started my first company. I learned an enormous amount from it," says Professor Roger Tsien of University of California at San Diego and Nobel Laureate in Chemistry, 2008. Katherine Ku, the Director of the Office of Technology Licensing at Stanford University, commented "I loved this book and all potential consultants in the biomedical field will find it enlightening. I highly recommend it." Ansbert Gadicke, Managing Director of the venture capital company MPM Capital, states that the authors "provide a clear description of critical issues that are understood by surprisingly few, e.g., liquidation preferences and participating preferred stock."

As the science of biomedicine continues to skyrocket, biomedical consulting has become an attractive option for a wider range of career stages. This is the most authoritative and practically useful handbook available to any scientist considering this important step in career advancement.

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For more information visit http://www.bioagreements.org

About the Authors

Edward Klees, J.D. is General Counsel at the University of Virginia Investment Management Company, where he works on private equity and hedge fund investment and legal issues relating to general investment management. He is an Adjunct Professor at the University of Virginia School of Law and Vice Chair of the American Bar Association's (ABA) Institutional Investor Committee. Klees frequently speaks on institutional investment issues at the ABA and other legal and investment conferences. Formerly, he was Associate General Counsel at the Howard Hughes Medical Institute. He has extensive background in the review and negotiation of biomedical consulting contracts.

H. Robert Horvitz, Ph.D. is currently at the Massachusetts Institute of Technology, where he is Professor of Biology and a member of the McGovern Institute for Brain Research and Koch Institute for Integrative Cancer Research. He is also an Investigator at the Howard Hughes Medical Institute. He currently serves as the Chair of the Board of Trustees for Society for Science & the Public and is a member of the Board of Trustees at Massachusetts General Hospital. Horvitz shared the 2002 Nobel Prize in Physiology or Medicine with Sydney Brenner and John Sulston. In 2009, he was named a Foreign Member of the Royal Society.

About Cold Spring Harbor Laboratory Press

Cold Spring Harbor Laboratory Press is an internationally renowned publisher of books, journals, and electronic media, located on Long Island, New York. Since 1933, it has furthered the advance and spread of scientific knowledge in all areas of genetics and molecular biology, including cancer biology, plant science, bioinformatics, and neurobiology. It is a division of Cold Spring Harbor Laboratory, an innovator in life science research and the education of scientists, students, and the public.

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