Biodexa Pharmaceuticals is a pioneering innovator in the pharmaceutical industry from the UK, specializing in the development of cutting-edge products for the treatment of diseases with high unmet medical needs.

The challenge

Before transitioning to PatentRenewal.com, Biodexa Pharmaceuticals managed their patents through a large global IP management corporation and occasionally consulted with patent attorneys regarding a few patent families. 

While this approach was effective for a while, it resulted in higher fees and they had concerns about oversight and control of their patent renewals. Dan Palmer (VP Technology), who is responsible for managing the IP portfolio at Biodexa Pharmaceuticals, mentioned several challenges with the previous patent management, for example: 

  • A higher amount of manual work was needed with the previous platform
  • Their site was hard-to-navigate and it was a struggle to locate and deal with specific patent cases
  • They charged a substantially higher fee per renewal

"There was a lot more paperwork involved, and the online portal wasn't easy to navigate."

Why PatentRenewal.com

With the increasing amount of Biodexa Pharmaceuticals’ patent portfolio, they had to look for a more efficient financial strategy with an easy-to-navigate platform that could handle more cases without the manual work. 

After looking through the advantages that our IP management platform could offer, they decided to reach out to us. They chose PatentRenewal.com for mainly two major reasons:


1. Cost-effectiveness: They received a transparent price comparison from us, clearly highlighting the cost benefits that they could achieve if switching to PatentRenewal.com.

‍“This was a very clear motivator that I could use easily to explain it to my colleagues in the Finance team.”


2. The software tool: After seeing the demo platform in action, it was already evident how intuitive and easy-to-use it is.

“The key thing that precipitated us switching over to your service was the fact that it was very simple, and your team gave us a very clear estimate from the outset of what the savings were likely to be. We provided the list of cases to your team, then signed the document, and then it was done.”

Solution

After a smooth and quick onboarding, Biodexa Pharmaceuticals could already experience the efficiency and clarity of the PatentRenewal.com software. 

After being our customer for quite some time now, Dan Palmer expressed that they appreciate how the service has streamlined their patent renewal process, making it accessible and easy to manage. 

They experience advantages with our platform, such as:

  • Reduced administrative overheads: Simplification of the renewal process, easier navigation through the high number of similarly named patents, and the search tool make it easy to find specific patents quickly.
“What I like the most is the ready access and the simplicity of the search engine, being able to get to the documents that I'm interested in quickly. I like the fact that I seem to be able to type in almost any patent identification number and get to the document I want."‍
  • Strategic decision-making support: The platform helps to make strategic decisions in advance by enabling pre-approval of patent cases they want to renew, and the setting of further renewal instructions with each case
‍“I actually like the idea that we pre-approve the cases sometime in advance. We clearly mark the cases that we want to continue and simply flag the ones that we're not too sure about."
  • Financial forecasting: The platform provides detailed analytics like budgeting for their whole patent portfolio, which is a significant advantage that helps to make informed decisions about their portfolio management.
‍“The forecasting tool has definitely been advantageous to my colleagues in finance because they occasionally ask me for the numbers in the next two months, and I've been able to just in a few clicks get to an answer.”

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The PatentRenewal.com platform's integration capabilities mean that Biodexa Pharmaceuticals can implement our software alongside their patent attorney. The end result is a much more manageable and easy process.

In addition, Dan pointed out the supportive team behind PatentRenewal.com as they experienced:

  • Fast and easy onboarding: The onboarding process was very quick and simple, minimizing the needed effort in the transfer of the patent portfolio.
  • Responsive customer service: Our Customer Experience team is always available and responsive, providing timely assistance and ensuring that all concerns were addressed promptly.
  • Seamlessly adding new cases: With the help of our team, they can add new cases to the platform in an instant when the company acquires new patents.

This partnership has transformed PatentRenewal.com from a service provider to an important strategic asset for Biodexa Pharmaceuticals.

“The platform is working 10 out of 10 and it takes a lot of effort out of managing IP. We haven't had any omissions or any errors at any point, so that obviously just means that the software works and does what it's supposed to. I would definitely use the software again when the company acquires another asset.”

If you are interested in discovering how your company could achieve similar results as Biodexa Pharmaceuticals has done with our automated and cost-efficient renewal process, start by requesting a price comparison or booking a meeting with one of our experts.