1 1 Commercialisation of Regenerative Medicine: Learning from Spin-Outs Anna French 1,2,3* , R. Lee Buckler 4,5 and David A. Brindley 6,7,8 1 Nuffield Division of Clinical Laboratory Sciences, John Radcliffe Hospital, University of Oxford, Oxford, UK 2 Stem Cell Research Laboratory, National Health Service Blood and Transplant, John Radcliffe Hospital, Oxford, UK 3 Oxbridge Biotech Roundtable, Oxford, UK 4 Cell Therapy Group, Bellingham, WA, USA 5 CTG Consulting Co., Vancouver, Canada 6 Nuffield Department of Orthopaedics, Rheumatology and Musculoskeletal Sciences, Nuffield Orthopaedic Centre, University of Oxford, UK 7 The Centre for Accelerating Sustainable Medical Innovations, The New Richards Building, Old Road Campus, University of Oxford, Oxford, UK 8 The Harvard Stem Cell Institute, Holyoke Centre, 1350 Massachusetts Avenue, Cambridge, MA, USA Word count: 2,884 * Address for correspondence and reprints: Anna French, Nuffield Division of Clinical Laboratory Sciences, John Radcliffe Hospital, University of Oxford, OX3 9DU, Oxford, UK. Page 1 of 22 Rejuvenation Research Commercialisation of Regenerative Medicine: Learning from Spin-Outs (doi: 10.1089/rej.2013.1423) This article has been peer-reviewed and accepted for publication, but has yet to undergo copyediting and proof correction. The final published version may differ from this proof.