Nordic Life Science 1
with IP, when to protect it, how much data to rel
ease to the public and what the company will look like as it grows are just some of the questions entrepreneurs within life science and medtech need to consider before seeking investors, says Martin Jansson, senior intellectual property (IP) strategist at AWA, a wellestablished intellectual property firm that works with new and growing companies on protecting their intellectual assets. It’s quite common that early-stage start-up companies don’t have a defined business model or even know what markets they are interested in. “Sometimes, for example, they take on a too big patent portfolio, when perhaps they should wait and first need to prioritize key markets. But it’s hard when you are in a position where you don’t have a business model tied to an IP strategy,” says Jansson. “We help companies map out and identify what their intellectual assets are. This helps them to sort out what they own at that point and what should be prioritized to protect going forward.” Timing is also critical. AWA helps companies to determine when they have enough data to seek a patent. “A common mistake is to put too much information into a patent application,” Jansson notes. “The legal and the commercial aspects need to be balanced.” Many life science companies appreciate the importance of IP and for different reasons they often need to secure protection relatively early on, notes Johanna Bergh, Partner at AWA. Within the life science field, product development often takes a long time, and sometimes a product candidate might have to be tweaked along the way. This may lead to a different product that no longer falls under the scope of protection of the original patent, Bergh says. “It is very important that the product that will enter the market will be Johanna Bergh, European Patent Attorney and Partner at AWA Anneli Jönsson, European Patent Attorney and Partner at AWA protected and that the core IP is the one that protects the product.” “Working in close collaboration with a strategic partner like AWA is key to assure the portfolio is where it needs to be, and that recommendation goes for both founders and investors,” says Anneli Jönsson, Partner at AWA. Start-up companies also need to explore their intentions. “Do they want to become the next big pharma, or drive it to a certain stage, then find a business partner, or being acquired by big pharma or someone else?” is important questions as the answer will affect the long-term IP strategy, according to Jansson. A strong recommendation is to compile and present all intellectual assets of the company to investors. Assets like knowhow, trade secrets, reports, scientific results, etc., do all create value, adds Jönsson. Having a structure and a plan for IP is critical as well as the ability to show investors the underlying reasons for the IP portfolio. “There are usually concerns regarding the time to market in relation to the lifespan of the IP, and how to maintain effective IP protection over time,” says Jansson. “Investors to a larger degree want to see or trust that the companies they invest in have a thought-through commercial IP strategy or plan for how to create and protect commercial value from IP and how to do it, over time.” IP is important for investors, especially as more investors are becoming increasingly IP-savvy and not only looking at the existence of IP, but also if it is commercially relevant IP, notes Jansson. The COVID-19 pandemic has helped to fuel investments in the medical and life sciences industries. AWA has noted several trends, including steady growth of investments in early-stage life science and medtech companies, both private and public, and an increase of IPO’s. “Companies are increasingly investing in creating IP to support their business,” says Jansson. NLS