9 best practices in technology licensing -- and the effects of patents in drug repositioning

This is the last of five posts this weekend on drug positioning -- trying to get a new drug genie out of the bottle.

And remember why it's of such interest:

Drug development is a long, complex, costly, and high-risk business. According to the Tufts Center for the Study of Drug Development, drug development from discovery to U.S. approval takes about 15 years on average and costs over $1 billion, and only 3 in 10 drugs on average make enough revenue to sustain R&D.

In order to get a return on investment, companies need to ensure that their repositioned drug will have at least some patent protection. 

Drug repositioning candidates that are still in development may have composition of matter patents, depending on how far into development they are and how long they have been on hold. Companies developing off patent drugs or drugs with patents close to expiry have to rely on data protection, method of use patents, or patents related to formulation technologies. 

Manufacturers launching drugs have some protection against generic competition through data exclusivity, which provides 3 to 11 years of data protection after launch, depending on the market.

Read more in “Getting The Drug Repositioning Genie Out Of The Bottle” at www.lifescienceleader.com

I’m working now with a small nanotechnology company in this area of Technology Licensing.

We work at ensuring best practices for success are being followed by both parties in the licensing process. This may include identifying target application areas, drafting communication documents, promoting technologies on-line and through direct personal contacts, and providing assistance in deal facilitation and in the negotiation process.

1. Non-disclosure agreements
2. Needs and objectives
3. Key elements of the term sheet
4. Positions on relevant issues
5. Negotiating schedule and deadlines
6. Progress reports
7. Documentation
8. Draft agreements
9. Legal counsel