Perseverance pays off for medical inventor
Our client was a distinguished industrial pharmacist with a lengthy track record of developing drug delivery devices. After taking early retirement from a senior position in a major pharmaceutical company, the client set up his own company to develop a new technology for the delivery of drugs by inhalation. What the client needed was strong patent protection for his idea so that he could sell or licence to established pharmaceutical companies.
After being briefed by the client, we prepared and filed an initial patent application and followed that up with an international (PCT) application one year later. That application matured into granted patents in Europe, the USA and several other countries. In the meantime, further developments of the technology led to the filing of two more patent applications, which were also granted in due course.
Negotiations between our client and a number of potential partners proceeded well, but difficult economic circumstances meant that no deal was struck. Undeterred, the client continued to seek out companies that would benefit from his technology. In 2010, more than ten years after the original patent application was filed, a deal was finally concluded with a niche pharmaceutical company that is developing a drug product for which our client’s technology is the ideal delivery vehicle. After conducting due diligence in relation to our client’s portfolio of intellectual property, the pharmaceutical company acquired our client’s company for a substantial sum.
AdamsonJones was retained by the pharmaceutical company to maintain the patents, and also to extend the portfolio by filing further patent applications directed to the latest developments that optimise the technology for use with the new owner’s product.
Our original client is now turning his attention to commercialising other inventions that he has made and which have been protected with our assistance.