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Category: Diagnostics

Using Public Disclosures to Prevent Competitive Patents

Posted on August 15, 2018 by Alan West

When does disclosing a secret actually help the secret-keeper?  In the world of patents and patent protection, it can be a key strategy.

Most entrepreneurs understand that an invention must be truly novel to receive a patent.  According to the U.S. Patent and Trademark Office (uspto.gov), an invention cannot be one that has been previously “patented, described in a printed publication, or in public use, on sale, or otherwise available to the public before the effective filing date of the claimed invention.”

As an example, I once worked at a company that acquired a medical device patent from a physician.  The resulting product achieved rapid market penetration, and the physician inventor received substantial royalty payments – until a competitor discovered that the inventor had described the concept to a group of physicians during a Grand Rounds at a small hospital a few days before he had filed the patent.  As a result, the patent was invalidated, the competitor began marketing a look-alike product, and the company and inventor had to deal with the rather nasty legal business of all the royalties that had been paid.

You have to be especially cautious to not disclose a patentable idea to anyone before filing a patent, unless your audience has signed non-disclosure agreements in advance.  Otherwise, it is considered to be a “public disclosure,” even if it is to one person.

You can, however, use such public disclosures to your advantage.  Let’s say you are a start-up company with a patent covering your first product.  A common defensive patent strategy is to file additional patents covering improvements and line-extensions to your original patent – a tactic known as the “picket fence.”  In this way you create a “fence” surrounding your product, making it much more difficult for competitors to get around your patent.

These new patents are all subservient to your core patent in that they are offshoots of the original and cannot be independently practiced.  As a start-up company, however, you may not have the cash to file all these new applications.  A well-financed competitor, on the other hand, may decide to file patents covering improvements to your product as an offensive strategy.

By filing enhancements to your original patent, they can create bargaining chips to use with you to negotiate a cross license, giving them the right to your original patent in exchange for you to use their patents covering product improvements.  It is a common and effective strategy, but it’s crucial to realize that it can also undermine your company’s competitive advantage.

A simple way to avoid becoming fenced in by a competitor in this way is to publish a description of the improvement in a paper or on your website.  If you are not going to file a patent on the improvement, publicly disclose the idea so no one else can patent it.  In that case your product would still be protected by your core patent.

The Intellectual Property Pyramid Assessment©, a workbook published by the Pittsburgh Life Sciences Greenhouse, will soon be available to order on Amazon. To sign up to get more details please email info@plsg.com.

Posted in Words of Wisdom, Concentrations, Medical Devices, Diagnostics, Portfolio Companies, Therapeutics, Biotechnology Tools, Uncategorized, Business Development, Health ITLeave a comment

Life Sciences Equals Economic Development

Posted on May 26, 2017 by Jim Jordan

Life Sciences drives economies, and for western PA it is one of our best contributors to economic development in the form of generating wealth and jobs. Just look at the math.

The term “life sciences” can include biotechnology, pharmaceutical, diagnostic, medical devices, and health care IT products – which make up approximately 40% of health care spending. And our nation’s health care system is projected to be $3.2 trillion by the end of the year. When you do the math, that’s $1.3 trillion in life sciences.  And that’s just the U.S.

In short, success in the life sciences is necessary for prosperity in a region, state, or nation.  We’re not talking about a subjective observation.  This statement comes via cold, irrefutable, objective calculations.  The economic impact of the life sciences industry is simply too big to ignore and too important not to invest in heavily.

Our local universities attract nearly $1 billion of federal funding each year to the region. That means if we were a state, the economic impact of western Pennsylvania’s federal funding for life sciences research alone would rank us among the top 12 states in the country.  That sounds big, and it is.

Lastly, the PLSG and its central role in fostering and advancing the life sciences in this region would not be in possible without foundation support.  Funding from regional foundations can be directly linked to an annual increase in Pittsburgh-area life sciences startups from three companies in 2002 to more than 12 today.  While we always would like to see more funding to support the innovation coming from our universities and entrepreneurs, the fact remains that our local foundations have been invaluable in moving the needle higher.

A high level of cooperation among investors, foundations, university researchers and technology transfer offices, local entrepreneurs, and organizations like PLSG is essential for success.  We must all focus on the same result – to generate economic prosperity, increased jobs, and a higher quality of life for our families, all through a stronger, more vibrant, and ever-expanding life sciences presence across this region.

Posted in Venture Capital Perspective, Medical Devices, Diagnostics, Therapeutics, Biotechnology Tools, Capital Investment Programs, Investment Growth Programs, PLSG News, Business Development, Health IT

It All Starts with An Idea

Posted on May 15, 2017 by Marissa Kuzirian

by Marissa Kuzirian, Investment Manager

Any project begins with an idea, the kernel of a concept that you hope pops into something bigger, something better.

The same holds true for those involved in the life sciences.  A new treatment or device or biochemical breakthrough begins with a simple idea.  It might be to ease patients’ suffering, or to make a surgeon’s task easier and more effective.  It could be any number of things.

And, in more instances than one might surmise, that idea could come from a personal experience or connection.  Take the case of PECA Labs, run by founder Doug Bernstein, as one example.

PECA Labs, begun in 2012 as a Carnegie Mellon University and University of Pittsburgh spin-off, focuses on pediatric and cardiovascular surgical devices.  Its proprietary MASA valve greatly lessens the likelihood of reconstructive surgery later in life for newborns with rare congenital heart defects, like the one suffered recently by the infant son of late-night host Jimmy Kimmel.

Bernstein had a great motivator for delving into research and development of these devices in particular – he had been born with the same kind of congenital heart defect.

“My life was saved, shortly after being born in Los Angeles, by a pediatric cardiac surgeon,” explained Bernstein.  “I only survived because a surgeon had been flown in when another baby, born at the same time, had a congenital heart defect.  When the doctors realized that I needed the same attention, they called the airport and had that surgeon come back to the hospital before flying off.  He saved me, which was so unbelievably lucky because there weren’t many surgeons who could perform that procedure then.

“When I had the opportunity to conduct research and start a company dedicated to addressing this issue, I was eager to do it,” Bernstein continued.  “I had the technical experience, passion, and drive, but right out of school, no business experience. If not for the PLSG and the one-to-one help, guidance, and perspective received from the Executive In Residence program there, we could never have advanced to where we are today.”

And it all started with a simple idea – to save and improve the long-term lives of babies born with the same heart defect Bernstein had.

Posted in Business Development, Health IT, Concentrations, Medical Devices, Diagnostics, Therapeutics, Biotechnology Tools

Just the Facts – Speaking the Language of Funders

Posted on May 1, 2017 by Diana Cugliari

In just about any TV police drama, detectives have a way of cutting through the clutter when interrogating a witness – they want just the facts.  In other words, don’t waste time on irrelevant information or pumped-up descriptions.  Eliminate distractions.  Just the facts.

Startup entrepreneurs can take this same advice when approaching funding sources.  Hopeful business owners may not be as confident in building a case, so a flashy PowerPoint presentation gets assembled to cover their tracks.  Or maybe they overemphasize or underplay the wrong aspects of their pitch, missing the mark in the end.  The potential for disappointment can be enormous.

It helps to speak the language of the people and organizations writing the checks.  Here’s why.

Funders are looking for indications – as strongly and clearly conveyed as possible – that a startup business is more than just a good idea, because an idea is just that.  It doesn’t make money yet.  It’s not real yet.  And it’s not going to get any funding yet.

Funders are looking for certain criteria before they will commit.  Is the business in an industry they typically fund?  Is the financial “ask” within a suitable range to generate the returns the funder expects?  Can the business win in its competitive space, and why, and how?  Can the business prove that others believe in it as much as the entrepreneur?  What has been done already, before receiving additional capital, to prove commitment to the concept – such as development of a working prototype, sales achieved to date, and hiring key talent?

Funders are looking for the right fit.  The business must appeal to some inherent, many times unspoken, intangible that’s important to the funder.  It could be a shared interest in the field that the business addresses, or the markets it will serve, or maybe a personal connection of being fellow alumni of a university.  The business seeking funding certainly must offer tangible, measurable, objective evidence that it’s worthy of financial support.  But the funder also needs to feel good on a subjective level about the decision.

The Pittsburgh Life Sciences Greenhouse works with startup entrepreneurs seeking early-stage funding.  We’ve seen presentations that worked and those that didn’t.  Bottom line – lose the extraneous stuff.  Stick with just the facts.

Posted in Biotechnology Tools, Business Development, Health IT, Medical Devices, Diagnostics, Therapeutics

How Innovative Startups are Changing the Way Diseases are Diagnosed

Posted on June 5, 2015 by Hank Safferstein

Blog pic4

While the world of healthcare is one of constant change and innovation, the process of diagnosing diseases can still be difficult. The number of tests administered to any given patient and the wait time for those results can be frustrating. Each year billions of tests are administered, but leave much to be desired in terms of accuracy and patient satisfaction. There is still need for greater innovation.

Some of the most exciting diagnostic developments are coming from health startups. These small companies are able to focus on inefficiencies that may be overlooked in testing, diagnosis, monitoring, or treatment. Their efforts allow doctors to reach more accurate diagnoses and offer more effective treatments. The more this process can be improved, the better our patients’ outcomes.

Here are a few of the most important ways these startups are improving diagnostics.

 

A Personal Touch

Disease diagnoses tend to follow patterns based on the most successful treatments, but this approach can be ineffective for some patients. Advancements in medical screening technology and DNA sequencing have made it much easier to address this problem. Health startups like RedPath Integrated Pathology are poised to build on these developments to benefit patients and healthcare providers.

RedPath’s PathFinderTG tests address ambiguities in cancer diagnoses. PathFinderTG is a molecular test that reveals genetic markers and other factors that are missed by other tests. Based on patient DNA, this information helps doctors better determine whether or not a tumor is benign or malignant and recommend the most effective treatment.

 

Simplification

Some diagnostic methods subject patients to a battery of tests or put analysts through hours upon hours of manual processing of these tests. And the results might not even lead to a patient-specific treatment. Why put patients and laboratories through so much in order to reach a general diagnosis and treatment? Cernostics is changing the game by simplifying the testing process.

Cernostics’ Tissue Cypher Technology whittles that battery of tests down to one. Much like RedPath, Cernostics uses a molecular-level biopsy to better assess the cancer risk of patients with Barrett’s esophagus━one simple test with personal results. They even want to expand testing to lung, breast, and colon cancers. And with $1.4 million in their Series B startup funding round, along with prestigious academic partnerships, Cernostics is poised to make a huge impact.

 

Creativity

Sometimes the best way to innovate is to find a unique use for something seemingly mundane. Successful health tech startups, whether out of vision or necessity, have a knack for finding such uses. By using common technology in unexpected ways, even the most routine aspects of healthcare can be revolutionized.

For example, Intelomed’s CVInsight makes use of one of today’s most ubiquitous and fashionable technologies━bluetooth━to vastly improve patient monitoring. A single bluetooth sensor, worn on the patient’s forehead, gives healthcare providers real-time updates to physiologic changes. The sensors pick up the slightest unfavorable change, helping alert doctors to potential events and prevent them from ever happening.

Developments by startups like these are going to greatly improve healthcare. Ambiguities in diagnosis will be clarified, effective and appropriate treatments will be found faster, and life-threatening events will be avoided. All of this will drive down costs and boost patient satisfaction. RedPath Integrated Pathology, Cernostics, and Intelomed are all part of the incubator at the Pittsburgh Life Sciences Greenhouse, proud supporters of life science innovation.

 

 

Posted in Diagnostics, Portfolio Companies

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