advice needed

Hello there

I’ve come with an idea to treat\ workaround a medical problem with currently no know cure. The main ingredient in the prototype works and combats the problem to a satisfactory degree and this has been tested. The remaining ingredients combat the remaining symptoms (in theory) but has not been tested. However I do not have pharmaceutical knowledge or the expertise in this field. I am wondering how the best way to develop and market my product?

1. Patent my invention and then to approach pharmaceutical companies to develop, test and if successful then to market. – I’m not comfortable taking an unfinished and untested product to them, but could I still sell them my idea at this stage?

2. Or could I develop this product 1st and fully test it before applying for a patent and then approach pharmaceutical companies to market. Remember I have no expertise in this field, any ideas how I would source someone to develop and test my idea?

Any help would be greatly appreciated.

 

[fastfences]

Hi there.

I'm not aware of costs of patenting, one on the forum is. I think that should be your first priority, because in talking about this someone may just get wind of what it's all about.

Has the testing process involved 'guinea pigs' ie the human variety? any such evidence of tests would add to the credibility of the product. Also related to credibility, is the fact you have no medical exp/qualifications, which, in my view, would make it a little difficult to add credence to the product. Would be a bit like me trying to market Bridal Wear. (Maybe not, being on my 3rd marriage must qualify me!)

Anyway, could you engage a 'medical' type person or company to pursue the marketing opportunity?
Cheers, Nigel

 

[dagr]

As Nigel says, be it a medical device or a pharmaceutical, you'll need to team up with someone "medical" soon, either as a consultant or as a business partner. It will be very difficult to talk to a pharmaceutical company or even a small medical product company without some recognised level of medical expertise.

If you can't find anyone you trust, then you may find yourself having to think about patents sooner rather than later. I forget the exact costs, but you are looking at several thousand pounds per major country per patent. If it's a pharamceutical, then you'll need to spend even more £'s as the rich companies in this domain employ experts whose sole job is to get round or break patents.

You'll have to be clearer when talking about the state of the "invention". (The industry has specific terminology when talking about product development and testing.) Is it just an idea? Sounds like you're a bit further down the road than an idea, although as you have no medical background I don't know what to make of your statement "... has been tested", specially as you later talk about "worrying about taking an untested product to the pharmaceutical companies". If you've tested it on a few people or animals, and the results seem encouraging, best say something like "the anecdotal evidence from initial investigations on people/animals/tissue* is quite/very/extremely* encouraging" (* delete as appropriate).

Sorry to sound a bit harsh, but you need read up a bit more about what's required in getting from an idea to a finished product (e.g. 7-8 years for a pharmaceutical, 1-3 years for a medical device). Also, the leap from anecdotal evidence to "clinically tested and approved" is enormous and not at all obvious as it relies on statistics and respecting reams of regulatory norms. Saying something works doesn't mean anything to a doctor/pharamaceutical company. They'll want peer-reviewed clinical papers, something you get when the product comes out of clinically controlled testing.

Good luck.

David.

PS: If it's a pharamaceutical and you've tested it on people, I wouldn't say too much as you may find yourself in trouble.