Marinova Pty Ltd is a progressive Tasmanian biotechnology company focused on developing innovative medical and nutritional applications from marine plants.
Marinova has developed a proprietary method, the Maritech® process, for extracting fucoidan from a particular variety of seaweed.
Over more than 12 months, IP Pragmatics has supported Marinova to identify international business partners who would be interested in incorporating the Maritech® range of ingredients into their products. As a direct result of the company approaches organised by IP Pragmatics, discussions have been opened with more than 10 multinational companies, in the UK, Italy, France, Denmark, the US and Japan. Several of these have progressed further, with sample materials being provided for testing and formulation.
Through these efforts, Marinova recently signed a letter of intent with a large multinational company that wishes to commercialise a product containing one of the Maritech® fucoidan ingredients.
Paul Garrott, Marinova CEO & Managing Director, said: "This signed letter of intent had been instrumental in Marinova successfully securing the proof of concept grant from Commercialisation Australia. By leveraging IP Pragmatics' business development capabilities and networks we have been able to identify global commercial interest in our product range."
In mid-2011, Marinova successfully secured $249,964 from Commercialisation Australia, to validate its fucoidan's osteoarthritis efficacy claims in large clinical trials and to demonstrate a commercially viable dose that can enter the Joint Health market. Further details of this press release are available here.
IP Pragmatics is pleased to announce - Otago Innovation Ltd - as a new IPRIS patent renewals client in New Zealand.
A wholly-owned subsidiary of the University of Otago, Otago Innovation Ltd is charged with exclusive responsibility for the management and commercialisation of intellectual property arising from research within the university.
Through our partnership with IPRIS, IP Pragmatics continues to build on IPRIS' successful track record of offering an experienced, reliable and user-friendly patent annuity payment service to leading universities in the UK, Europe, Australia and New Zealand.
As an example of the benefits of transitioning to IPRIS; working with one UK university with a portfolio of more than 500 patents, IP Pragmatics was able to save £32,000 from the university's renewals budget in the first year, allowing the university to increase its spend on protecting more innovations.
