, Nov. 30, 2010
/PRNewswire/ -- iLeverage (www.ilvrge.com
), a leading patent broker, today announced the final phase of the sale of the pioneering Biocontrol Technology Inc (formerly NYSE traded, BICO) patent portfolio which will take place on December 7, 2010
via an online auction. The core of the inventions is the Method for Non-Invasive Measurement of Concentration of Analytes in Blood describing the use of infrared and near infrared light beamed onto the finger or other parts of the body together with various algorithms to calculate the concentrations of blood analytes from the reflected light
. These methods laid the foundations for today's non-invasive vital sign monitoring, and in the last few years have become nearly ubiquitous in the medical monitoring industry.
Since its incorporation by founder and lead scientist Dr. David Purdy in 1972, BICO established itself as a leading innovator of non-invasive sensors. BICO's methods were studied between 1986 and 1991 in collaboration with its consultants at Battelle Memorial Institute in Columbus, Ohio. The results of these studies led to a series of patent applications by BICO's research team in 1992-1993, and the technology since has gained widespread industry adoption and has been implemented in a variety of products in the U.S.A. and abroad.
Companies file patents to protect their market share and to strengthen their competitive position. The very same rationale applies to patent acquisition. BICO's patents may be a valuable strategic addition to existing patent portfolios of companies who wish to reinforce and fortify their market share in the face of ever stronger competition. iLeverage's marketing materials include sales figures as well as product technical analysis of exemplary companies simply to demonstrate the significance of certain markets protected by the patents. Moreover, since the patents are relevant to several important unlicensed players in these markets, it is believed that the buyer would gain not only competitive advantages but also the ability to generate significant financial return. Hence, the patents were offered to a select list of companies that participate in the relevant markets as well as to other IP-value extraction companies.
"We are very encouraged by the market responsiveness. Since the introduction of this portfolio we have been busy providing answers to many questions from interested buyers," said Uzi Aloush, CEO of iLeverage. "The auction consummates a ten week campaign during which iLeverage has been actively marketing this opportunity. In light of the quality of the patents, the size of the protected markets and the interest expressed to date, we have a strong basis to expect higher than usual prices."
Additional information on the patent portfolio is available on iLeverage's website at www.ilvrge.com/bico.
The sales materials are provided as-is and without any representations or warranties. No opinion of infringement, validity or enforceability is expressed or implied. Buyers are advised to conduct their own due diligence with respect to the information provided herein. The patents are offered only for purchase. Neither iLeverage nor seller is in any way attempting to assert or enforce these patents. No allegation of infringement is made by or on behalf of seller, nor is any license or covenant not to sue available from seller. The claim charts and all other market information accompanying this offer are solely for the purpose of demonstrating the value of the patents to potential purchasers. The claim charts or any of the market information may not be relied on, nor may they provide any basis, for any assertion of the patents.