WE DID Licensing, Due Diligence, Commercial Partner Identification
PARTNERS Anabela Correia
What was the situation?Coco Research Pty Ltd was founded by an anaesthetist in WA, who had developed a unique echogenic (ability to bounce an echo or signal) needle which enhanced ultrasound examinations. He needed assistance to:
• Identify commercial partner & secure commercial licence
• Licensee identification, due diligence & approach
• Develop project plan & milestones
• Financial modeling
• Negotiate commercial licence
How was your journey?Inner Maven was responsible for negotiating the licence (manufacture & distribution) with Pajunk GmbH on behalf of the inventor. This included up front payment, milestone payments & royalties. Agreement was reached for a multi million-dollar license within 4 months. An estimated 2 million units were sold in 2014. The anaesthetist is continuing to collect royalties today and the product has undergone 2nd generation development and market sales.
How did you find the final outcome delivered by Inner Maven? “My own experience was completely positive. Anabela was very passionate about commercialising my technology. This passion made her interested and extremely attentive to the small details of the process.”
