The Client

A developer of innovative molecular diagnostic technology, based on licensed-in key technology initially developed within the UK Ministry of Defence, had invested more than $180 million in further advancing this technology for the commercial market. The result was a multi-modular, compact and fully automated diagnostic device, which could test a tissue sample for certain pathogens in less than an hour and the technology was being trialled in multiple hospitals across Europe and China, so there was clear evidence of efficacy of the technology.

This innovative technology, and the $millions invested in it, was at risk when the Company entered financial distress.

The Assignment

We were engaged by PEM Accountants who were appointed to handle the sale of the assets from bankruptcy, to identify, market and sell the IP assets to maximize the financial recovery for creditors. Significant investment had been made in developing the technology and it was vital that the resulting IP created was not lost from this bankruptcy.

Our Approach

Using our unique Metisology® approach, we uncovered a rich portfolio of IP assets, including registered and unregistered IP: corporate brand; website content and domains; portfolio of registered trademarks in Europe, Asia and the US; registered designs in Europe and the US; critical corporate and technical records; the software; and a significant portfolio of granted patents across 6 patent families in Europe, Australasia and North America.

We advised our Client on immediate actions to protect and preserve IP value while the formal proceedings were in progress, and we liaised directly with:

  • the Company’s trademark and patent attorneys regarding imminent patent and trademark renewals; and
  • the MoD’s technology transfer company to ensure that an eventual purchaser would have the opportunity to bid for the licences that were of significant value for the continued commercialization of the technology.
The Outcome

We developed a marketing strategy to maximize the potential recovery, offering three distinct assets as part of the sale: the IP assets, the physical assets, and the ability to enter negotiations with the technology transfer company.

We launched a comprehensive marketing campaign, identifying and directly contacting more than 700 potential buyers. We facilitated due diligence enquiries, managed a secure data room and negotiated with more than 30 potential buyers, to secure the highest offer for the IP assets.

Our quick response time in this assignment prevented the loss of this critical IP that had received $millions in investment.

IP Assets Sold – Brand & Trade Marks, Website & Domains, Patents, Software, Key Organizational Knowledge.