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Patents are a key asset for pharmaceutical startups, but where are they choosing to file? Jian Siang Poh and Angus Fairbairn of Marks & Clerk report.
The development of any new drug requires considerable investment of time and resources into extensive research and development (R&D), even in the hit to lead and pre-clinical stages. While larger pharmaceutical companies with deep pockets are used to managing the costs associated with drug development, pharmaceutical startups and small and medium-sized enterprises (SMEs) may encounter more difficulty in balancing their budgets, particularly when it comes to allocating funds for generating patent portfolios.
In this article, we provide an insight into the patent filing trends of pharmaceutical startups and SMEs, in terms of the jurisdictions that are prioritised when seeking patent protection.
Patents play a crucial role in establishing rights that pharmaceutical startups and SMEs need to reap the reward of their R&D and to secure further investment. As a result, patent protection is typically considered and applied for at a very early stage in the drug development process.
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Patent filing, pharmaceutical startups, Marks & Clerk, R&D, SMEs, portfolio, Patent Cooperation Treaty, G20, PCT applications