The agreements are with University College London Hospitals NHS Foundation Trust (UCLH) and Great Ormond Street Hospital for Children NHS Foundation Trust (GOSH) and will make negotiations around commercialisation frictionless and end complex and drawn out ’deal-by-deal’ negotiations.
This means, where there have been relevant contributions from both UCL and UCLH or GOSH, then after deducting the costs of commercialisation and any reward for individual inventors, UCL/UCLB will share the proceeds of commercialisation 50:50 with the relevant NHS trust.
Professor Geraint Rees, UCL Vice-Provost (Research, Innovation and Global Engagement) said: "UCLH and GOSH are close and longstanding partners. This simple, standard and fair agreement between the three partners will be attractive to investors, eliminate the need for time consuming case-by-case negotiations and ensure any financial proceeds come back as quickly as possible into the local NHS and university ecosystem. But most importantly, this agreement will shorten the time for us to create new technologies and treatments that will benefit patients both in London and throughout the UK."
Tim Jaggard, UCLH Deputy Chief Executive and Chief Financial Officer, said: "We are delighted to sign this landmark agreement with UCL. It provides a strong foundation for even closer collaboration with our key university partner, as we develop new and innovative technologies and treatments for our patients. It also enables a fair and equal distribution of any commercial income which we intend to reinvest into UCLH to support the services we provide to patients."
Mat Shaw, Chief Executive of Great Ormond Street Hospital said: "At a time when the NHS faces unprecedented financial pressures, partnerships like this are more important than ever. By simplifying the commercial pathway for innovations developed with UCL, we can ensure that promising research reaches patients faster - and that any financial returns are reinvested where they’re needed most: back into frontline care. This agreement reflects our shared commitment to working smarter and delivering better outcomes for patients locally and nationally."
The legal agreements between UCL/UCLB/UCLH/GOSH were signed at the UCL’s Grant Museum of Zoology on Monday 9th June, 2025.
The precise terms of the agreements are commercially sensitive. They do not apply retrospectively, apart from a small number of identified projects post-dating the start of negotiations.
Links
- University College London, Gower Street, London, WC1E 6BT (0) 20 7679 2000
Henry Killworth
(0) 7881 833274E: h.killworth@ucl.ac.uk
