SEATTLE, Oct. 22, 2019 /PRNewswire/ -- IntuitiveX (IX), a Seattle-based life sciences consultancy and incubator, continues to demonstrate its ability to create and generate demand for new intellectual property (IP) with the recent sale of NavLab's initial IP.
"NavLab, one of IntuitiveX's portfolio companies, is a testament to how we demonstrate the full-suite of our intellectual property capabilities related to asset generation, protection, strategy, and commercialization," said Mark Han, Chief Legal & Co-Founder of IntuitiveX. "We worked alongside the CEO to create new IP and later entire patent portfolios."
NavLab started in 2016 when CEO, Justin Esterberg - an experienced physician, contacted IntuitiveX with a provisional patent and conviction that there exists a huge market opportunity in the surgical space. Realizing the value of the opportunity, IntuitiveX conducted a patent landscaping project to identify how much IP had been filed or pending within the general area. The research proved optimistic; there was very little activity within the AR/VR intraoperative surgical, surgical workflow, and robotics space.
Leveraging our clinical expertise and bringing aboard additional IP specialists, IntuitiveX led an invention session with legendary IP expert John Cronin. This effort resulted in new and promising inventions; expanding the patent holdings from a single provisional patent to 6 patent families across multiple spaces inside of one year - including the asset which recently sold.
"NavLab was self funded and built into a life-science patent holding company. The first patent issued within 18 months although the average time takes 3 years," said Simon Robinson, Chief IP & Co-Founder of IntuitiveX. "IX was the conduit for NavLab's IP sale. We managed the process internally, relied upon our in-house expertise, leveraged connections with spinal companies, and created demand the moment the patent issued."
IntuitiveX is a Seattle-based life science consulting firm and incubator. With a team comprised of life science entrepreneurs, physicians, investors, and innovators, we bring a combined 100+ years of experience in R&D, Clinical, IP Strategy, Prototyping, Product Development, and Commercialization. We catalyze medical innovation by identifying novel and timely ideas and applying our resources to make them possible. From initial concept to final commercialization, IntuitiveX has the in-house knowledge and network to meet the unique needs of the most innovative life science companies in the world. www.intuitive-x.com