The Shock of the New

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Abstract
When Celltech Ltd was formed in 1980 it profoundly affected a number of government agencies concerned with technology transfer. The company emerged from the National Enterprise Board and the Medical Research Council, and an agreement between these two organizations circumvented the then existing arrangement whereby most government-funded research had first to be offered for commercialization to the National Research Development Corporation. This agreement was instrumental in changing the existing system. The paper describes the pressures which led to the novel agreement, the rows which it caused, and the consequences it had for technology transfer from academia to industry.

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