In this week\u2019s Patent News – IP filings by IIT-Delhi increase by 20% in 2019; Juvis\u00e9 Pharmaceuticals acquires commercial rights for two cancer drugs from AstraZeneca; Saudi Authority for Intellectual Property\u00a0conducts training program; South Korea encourages IP backed financing<\/p>\n
IP filings by IIT-Delhi increase by 20% in 2019<\/strong><\/p>\n According to an Economic times report, IIT-Delhi has apparently filed about 150 intellectual property applications in connection with patents, designs and other forms of IP, in India as well as other countries in 2019, thereby marking an increase\u00a0 of about 20% in IP applications filed back in 2018. In addition to the rise in IP filings, according to the Director of IIT-Delhi, Ramgopal Rao, the Institute has exhibited an increase in revenue by four times as a result of IP Licensing. The Director also said that \u201cWe have initiated programs to foster increased student and faculty participation in deep-technology startups that are backed by strong IP.\u201d<\/p>\n AstraZeneca sells rights over two patented cancer drugs<\/strong><\/p>\n Pharmaceutical giant, AstraZeneca has sold its commercial rights in respect of two cancer drugs, namely, Arimidex and Casodex, to a French company called Juvis\u00e9 Pharmaceuticals. The cancer drugs are essentially used to treat Breast cancer and Prostate cancer. AstraZeneca has currently sold its commercial rights in certain European and African countries, prior to this in 2017, the company sold its commercial rights in the U.S.A. The French company has paid $181 million to AstraZeneca, it may also make sales-contingent payments in the tune of up to $17 million, in the future.<\/p>\n BTL Aesthetics file patent infringement lawsuit against Allergen and one other<\/strong><\/p>\n BTL Aesthetics, a leading manufacturer of advanced non-invasive medical and aesthetic equipment recently filed a suit against Allergan and Zimmer MedizinSysteme GmbH,\u00a0Germany, and its affiliate for infringing its patent rights. The suit has been instituted in the U.S. Federal District Court for the District of\u00a0Delaware. According to BTL, the law suit is related to a device called \u2018Cooltone,\u2019 manufactured by Zimmer for Allergen and another method of therapy called \u2018Coolsculpting\u2019 which infringes BTL\u2019s patent for their therapeutic application. In addition to seeking monetary damages, the company had also filed for an injunction to prevent Allergen from importing and marketing the concerned device.<\/p>\n Saudi Authority for Intellectual Property\u00a0conducts training program <\/strong><\/p>\n Saudi Authority for Intellectual Property (SAIP)\u00a0conducted a training program at its headquarters in Riyadh for its support centers. While the program was inaugurated by the CEO of SAIP, Dr.\u00a0Abdulaziz bin Muhammad Al-Suwailem, more that 60 trainees from government as well as private centers participated in the training program. A number of field experts shared their experiences and knowledge with the objective to promote a healthy IP ecosystem in the kingdom.<\/p>\n SAIP is a body that was established in 2018 by the National Council of Minister\u2019s to regulate, promote and protect intellectual property in the Kingdom of Saudi Arabia (KSA). However, SAIP officially began to function in early 2019.<\/p>\n South Korea encourages IP backed financing<\/strong><\/p>\n The Korean Intellectual Property Office (KIPO) recently announced that the Office will offer a 50% discount with respect to its annual IP fees exclusively for banks which accept patents, utility model and design rights generated by Small and Medium Enterprises (SME\u2019s) as collateral. According to a press release, KIPO aims to expand administrative and financial benefits for SME\u2019s that make new technology and for banks that offer loans to SME\u2019s based on IP assets. In addition to the benefits for SME\u2019s, Startups will have the opportunity to claim 70% reduction in fees at the time of filing a request for Preferential Examination for a patent application. KIPO also said \u201cBy reducing the financial burden for lenders, we expect to further invigorate IP-backed financing.\u201d<\/p>\n Authored by Vibha Amarnath<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" The post analyses recent developments in patent and intellectual property, including AstraZeneca\u2019s sale of rights to cancer drugs and South Korea\u2019s new IP backed financing initiatives. It also covers IIT Delhi\u2019s increased IP filings and international updates from Saudi Arabia.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":2,"footnotes":""},"categories":[6,14],"tags":[495,10846,10845,2314,10847,4143,3616,16],"class_list":["post-67572","post","type-post","status-publish","format-standard","hentry","category-intellectual-property","category-patents","tag-astrazeneca","tag-iit-delhi","tag-ip-backed-financing","tag-ip-news","tag-juvise-pharmaceuticals","tag-kipo","tag-patent-filings","tag-patent-infringement-2"],"_links":{"self":[{"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/posts\/67572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/comments?post=67572"}],"version-history":[{"count":2,"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/posts\/67572\/revisions"}],"predecessor-version":[{"id":140546,"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/posts\/67572\/revisions\/140546"}],"wp:attachment":[{"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/media?parent=67572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/categories?post=67572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/tags?post=67572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Patent Disputes \/Infringement \/ Settlement \/ Licensing<\/span><\/h2>\n
International Patent News<\/strong><\/span><\/h2>\n