Licensing builds a bigger money pie by tapping into partners who already have the production, distribution and marketing resources in place. They are established in the market and can add your IP to their revenue pie.
Thank you to all who attended last weeks Med Tech Licensing Workshop. The workshop covered all the essential steps to successfully licensing a med tech IP…from finding the right partners, how to contact them, what to say (what not to say), how to get the best royalty rate, key mistakes to avoid and much more.
Big Med Device companies are facing a big problem – their buy to grow strategy isn’t working anymore. The can’t find enough small companies with new med tech in the market that aren’t extremely overpriced. Now big med device companies are looking at creating partnerships with earlier stage med device companies. Although it’s riskier, it’s the only way they can fill their big product pipelines. And that spells big licensing opportunities for startup and emerging med device companies.
Recently the University of Arizona licensed one of its latest technologies, a formulation for a new sunscreen, to a local company. The value of this new technology is the ingredients are combined in such a way that it keeps it from seeping into the skin. And that presented a great licensing opportunity for a small company who spotted the IP.
What happens when your licensing partner doesn’t meet their development milestones? You end the agreement. That’s just what happened with two very large pharmaceutical companies. These two global companies signed a licensing agreement worth over $300 million that included the development, marketing and sales of an antibody treatment. But the […]