Supplements the (A) case, 824020. Following on the negotiations detailed in the Miracle Therapeutics (A) case, Beth Sharp and Jennifer Brilliant from Miracle Therapeutics face new challenges with their company's funding and intellectual property (IP) after several missteps. The company and its young CEO are at a crossroads and must solve the challenges faced by many early-stage life science companies. The case follows how they navigate these issues to set Miracle on the right course.

Beth Sharp and Jennifer Brilliant founded Miracle Therapeutics based on intellectual property developed by Brilliant and her post-doctoral student, John Supreme, in Brilliant's lab at Elite University (EU). Miracle will have to obtain a license from EU to the Brilliant patent rights and other technology, and the founders want this license to be exclusive. With venture funding waiting in the wings, Sharp and Brilliant set up a meeting with EU's Technology License Office (TLO) to discuss the terms of the license. The TLO's licensing manager, Susie Deal-maker has provided them with a licensing term sheet template for review prior to negotiating the key terms. The case explores the components of a technology/IP license and the process of negotiating a deal with a University.