Financial support and professional monitoring of projects selected
Through skillful management, IRICoR ensures the professional monitoring of the projects at each step of the maturation process, in line with benchmarks that were clearly identified right from the start.
In addition to investing directly in the projects selected in accordance with a properly established budget and plan, we bring our multidisciplinary expertise to the projects in order for them to reach their next value inflexion point. Our experienced managers support and guide the investigators and their teams throughout the maturation process in a risk mitigating manner. We make sure that the projects are run on a milestone basis.
The assistance provided by IRICoR translates into continuous exchanges with the project teams throughout each project with respect to the project plan, the expertise required to be involved in drug discovery, the identification of the benchmark stages, the development of the intellectual property strategy and of the commercialization strategy.
Developing intellectual property is vital for successful value addition to any new therapeutic approach. Also, as soon as a project is selected, IRICoR offers an integrated intellectual property management plan, while showing the flexibility required to close licensing agreements at the various stages of development, according to the risk assessment and the calculation of the short-term and long-term revenue potential. Our expertise in effectively protecting innovations to optimize their value and ensure a fair return to the originating institution(s) makes IRICoR a leader in the area of intellectual property management.
The research teams find themselves not only enriched with business and drug discovery knowledge that is traditionally missing from academic settings, but also contribute to the effective and tangible development of their projects.
IRICoR’s staged approach towards newly developed IP protection:
- Step 1: meeting patentability sound prediction and enablement requirements while applying cost filing strategies
- Step 2 (after validation of initial IP): ensuring enough coverage to account for internal commercialization goals foreseeable adjustments by competitors
- Step 3: exploring various licensing opportunities including a license for the pre-clinical/clinical development of a project to a strategic partner or the possibility to license part of IP (e.g. enabling technologies) to non-competing industries and create alternate revenue streams.
IRICoR has the flexibility to continue prosecution of UdeM Background IP alone or with industry partners if there is mutual interest, thus keeping the possibility to maintain its position and be able to strategically grant non-exclusive licenses on the matter.