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Innovator in bio-medical field seeks greater protection of intellectual assets and cost efficiencies in managing its expanding IP portfolio
HONG KONG, March 13, 2014 /PRNewswire/ -- KAEL-GemVax, a leading Korean life sciences company, has appointed CPA Global, the world's top intellectual property (IP) management specialist, to manage renewals of patents in its expanding IP portfolio.
With a core part of its business focused on medical science and pharmaceutical research and development -- including anti-carcinogenic vaccines -- KAEL-GemVax has a growing portfolio of valuable patents, which it needs to protect and manage, both at home and abroad.
The company realised that, in continuing to expand internationally and seeking to differentiate itself in the life sciences industry, it needed a global service provider to help strengthen the protection of its key IP assets, manage its IP portfolio more cost efficiently, and mitigate risk around patent renewals.
By partnering with CPA Global, KAEL-GemVax can better understand the commercial viability and legal strength of its current IP assets as well as the broader IP landscape to which those assets relate, enabling the company to make more informed decisions in developing a comprehensive IP strategy domestically and internationally.
Under the agreement, CPA Global will be responsible for renewals of KAEL-GemVax's existing patents as well as those currently under application, both in South Korea and overseas. KAEL-GemVax will also be able to use other CPA Global services, such as patent search and analytics, to help assess the strength and effectiveness of its IP portfolio in line with market developments and competitor activity.
KAEL-GemVax is a high-performance life science technologies company, primarily focusing on the development of biological drugs. One of its main product areas is from Norwegian cancer vaccine company GemVax A/S, which it acquired in 2008.
Ms Lee Mi-hyun, Patent Lawyer and IP Team Leader at KAEL-GemVax, commented: "Our IP is vitally important to the company's future growth and development, so we needed a service provider who could ensure protection of our valuable intellectual assets around the world, while also delivering significant cost efficiencies in the management of our expanding IP portfolio. We selected CPA Global because of their extensive experience and expertise in managing patent renewals worldwide, their highly efficient work processes, their in-depth industry knowledge, and their ability to advise on a broad range of IP management issues.
"Working with CPA Global will help us develop a more comprehensive and competitive IP strategy, enabling us to strengthen our market leadership position, particularly in the medical science and pharmaceutical area. In addition to managing our renewals process, they will be able to assist us in identifying opportunities to optimise the value of our IP assets, both in Korea and internationally, through patent monetisation."
Steve Kim, CPA Global's Director for Korea, said: "We are delighted to be working with KAEL-GemVax to help manage their valuable IP assets and to support the development and delivery of their global IP strategy. KAEL-GemVax is a company with a track record of thinking 'outside of the box'. This can be seen from its diversification into new product areas, and also by its innovative approach to IP management and portfolio optimisation. By appointing CPA Global to handle its renewals, the company is able to free up their in-house IP team to focus on more strategic work, such as developing additional revenue streams from its prized IP assets."
