To assist in technology commercialization, the Technology Application and Promotion Institute of the Department of Science and Technology (DOST-TAPI) validated the value of a publicly-funded technology portfolio presently commercialized by a university spin-off.
Manila HealthTek, Inc., led by University of the Philippines researcher Dr. Raul V. Destura, is a spin-off company responsible for developing a dengue diagnostic kit, BioTek-M.
Biotek-M™ is a pioneering molecular diagnostic kit employing the isothermal platform for detection of infectious diseases including dengue, leptospirosis, schistosomiasis, and salmonella, among others, designed for hospitals and clinics with minimal laboratory facilities.
The intellectual property (IP) valuation report for BioTek-M was completed in fifteen calendar days by the Institute, which validated the technical and financial value of the technology.
It can be recalled that previous IP valuation assistance was outsourced.
This first ever IP valuation by the Institute used unique methodologies of patent analytics – a pioneering effort in the Philippines.
Mr. Caezar Angelito E. Arceo, DOST-TAPI Supervising Science Research Specialist (SRS), expressed that the valuation is relatively new in the country and shared that 25 subscriptions are distributed and utilized all over the country.
“This is a great start for a test case in our subscriptions,” said Arceo.
The Manila HealthTek, Inc. plans to internationalize their portfolio by seeking financial partnership with the National Development Company (NDC).
The said valuation leverages the technologists during negotiations for technology marketing.
This undertaking is one of the fruits of DOST-TAPI’s commitment to promote IP commercialization in the Department.
Previous efforts included the “Capacity Building for DOST Employees on Intellectual Property Rights” on 30 September to 02 October 2019 which was attended by DOST Research and Development Institutes (RDI), Councils, Regional Offices, and selected DOST-TAPI employees.
IP valuation and capacity building are under the project, “Support to the Commercialization of 500 DOST-Generated Technologies and Strengthening the Country’s IP and Technology Portfolios”.
Chief SRS of DOST-TAPI’s Invention Division, Atty. Marion Ivy D. Decena, said that this is the first time for those trained participants from the IP capacity building to translate and apply the theories and concepts in an actual valuation work.
“Capacitating employees is very important when there is a need for immediate response or request for valuation or any other IP services. DOST-TAPI’s in-house specialists can surely get the job done,” said Decena.
Through the conduct of trainings, DOST-TAPI has provided critique, comments, and inputs to the reports of the firms given their developed expertise on both IP and business valuation.
The Institute’s valuation services are guaranteed to continue while in-house valuation services are only available when the need arises.
“It is cost-effective and efficient for the Department given the few valuation experts in the country; however, there is a need to further capacitate people on the business aspect of valuation,” expressed Decena.
To fulfill the gap of having few valuation experts in the country, the Institute through the Invention Division has published the very first valuation manual in January 2020.
“One disadvantage is the lack of manpower and limited resources as so many things to do with so little manpower. However, with all gratitude to DOST for all our certifications and trainings, we accepted the additional work and even prioritized this among others because there is a great need,” added Decena.
DOST-TAPI S&T Media Service
Darla Mae L. Hasan