Invention Steps and
Commercialization Process
We are strategic medical device innovation and commercialization experts; experienced in customizing strategies to guide medical technologies through global market development.
The product innovation and commercialization of patents can be broken down into 4 key PHASES:
CADUCEUS TECHNOLOGY aligns our interests with yours, to navigate the entire process with a goal of cost efficiency and strategic knowledgeable medical product development.
As innovation managers, we develop key strategies while navigating unpredictable challenges.
If you have a new product idea, but are uncertain if you need assistance, read “A Walk Through Commercialization” by Wesley Savage.
Global in our services, we primarily focus on medical device commercialization in the USA, because the USA is almost 50% of the entire global market. However, our work helps prepare for any initial country entry due to easier funding, regulatory approval or other strategic reasons.
PHASE I - THE CONCEPT & PATENT STAGE
Commercialization Specialists should be engaged early in the product development cycle to develop strategies that maximize value and coordinate projects to reduce costs. We begin preparing for the exit plan from day one, always focusing on increasing the valuation.
The FIRST TO FILE Rule is serious business. File your provisional patent as soon as possible. DO NOT DELAY!
After filing your provisional patent, you only have 12 months to convert to a full patent, or to file a worldwide PCT application. Let us help reduce your costs.
By choosing CADUCEUS TECHNOLOGY as your Innovation Partner, you can feel confident of our detailed focus, strategic planning, and personalized innovation management strategies, handling your medical technology device inventions.
PHASE II - THE PRODUCT DEVELOPMENT STAGE
Understanding Complexities Of Medical Device Commercialization
Milestone Development and coordination of development projects and their validations are all important during the Product Development Stage.
Decisions made during this stage can greatly affect your technology's valuation. Keeping investor’s expectations met while meeting milestones, is crucial to your continued support.
Innovation and ideas alone do not create value. To create value, an innovation must be unique, creating a product people both need and will pay for. Proper in-depth research is critical to fully assess is if an opportunity justifies the time and expense of development and to develop appropriate strategies.
Caduceus provides extensive and valuable Global Market Research and Analysis giving investors and executives the security they need to clearly understand the opportunity. In-depth market studies help entrepreneurs learn more about global markets, risks and competitors.
Strategic planning can be influenced by an awareness of IP opportunities to exploit, best countries for initial market entry, impending regulatory changes, potential partners, or global metrics which may affect commercialization planning and funding.
Caduceus Technology can strategically choose proper innovation R&D partners and key Validators who are highly valued by industry. We choose Scientific Experts who can complement the quality of the technology. Don't underestimate the value of strategically chosen experts. Choosing well can affect your perceived valuation greatly, for funding or upon exit.
Caduceus Technology Partners handles these medical commercialization issues.
We analyze the details and provide strategic guidance to keep your project on-track.
Innovation Management requires focused anticipatory skills, careful due diligence
and attention to the many inevitable issues which arise during developing a medical technology.
When problems arise, you need an innovation expert knowledgeable in your industry,
to help negotiate the crises. Will you stop development, partner-up, or take a 90 degree
turn and develop around it?
PHASE III - COMMERCIALIZATION
Preparing to Compete, Sell or License
In this phase, your most important time is spent re-evaluating, perfecting, updating and rechecking everything you have already done. The FDA and Markets change quickly. Adjust to new findings. Chose key players strategically and make it a WIN/WIN for all.
Your Exit Plan was decided earlier in product development. All decisions thereafter focused on the exit strategy and improving the technology's valuation. Recheck all figures and your competitors.
The Commercialization Process is not complete until your exit has been achieved. Did you plan to compete, sell, or license?
Do you know how to find a competitor who may be the best acquisition candidate? Do you know if you should sell all, or part of your technology, the IP, or the company?
Do you know what to do if your technology is better than a major market leader in the space? How do you plan to compete and how many products will you be selling? What is your marketing plan?
Do you know how to decide when respected scientific colleagues, should be considered dangerous competitors? How naïve are you to the business side of product development? How much should you share? Although sharing your new plans to colleagues may soothe the ego, it may cannibalize your opportunity as well, especially if you publish it or share too much at conferences. Your brilliant and eager mind can become a dangerous pit-fall to your own success.
Are you wise enough to realize that although English is the global business language, all business decisions negotiated in English are not handled the same in all countries?
Non-USA scientists should understand English speaking DOES NOT define the cultural variations of business practices around the world, especially in the USA. This is a common mistake on both sides.
It is important to have a partner in the country you are entering, who can be impartial, non-political and truly interested in the success of your company.
By Partnering with us, you can be confident of our mutual goals for the success of the technology.
