NEW YORK (GenomeWeb News) – Looking to monetize its patent portfolio, Health Discovery Corp. said today that Patent Profit International will market the firm’s patent portfolio to third parties for applications outside of biomarker discovery and other healthcare applications.
HDC said its core support vector machine (SVM) technology could potentially be used in a wide variety of applications including information technology, oil exploration, homeland security, and the automotive industry. The Savannah, Ga.-based firm said that it would retain a royalty-free, worldwide, exclusive license, with the right to grant sublicenses, in all parts of the healthcare field.
According to the firm, it holds 15 issued and 19 pending US patents and 14 issued and 16 pending foreign patents. The agreement with PPI “could unlock the value of these intellectual property assets, provide substantial income to HDC and significantly reduce the cost of patent maintenance, prosecution, and litigation,” HDC Chairman and CEO Stephen Barnhill said in a statement.
HDC is developing the SVM technology for diagnostic and prognostic applications in prostate cancer, ovarian cancer, breast cancer, endometrial cancer, colon cancer, and leukemia.