Yes patents are very tricky. Everything depends on the patent description.
The tricky bit is the scope of the patent may be either too specific or too general; it may fail to properly and fully capture a particular process. It's not going to be always picked up by the Patent office, they have a different job. Someone else can arrive at the same destination in a different way to that described and not infringe a patent. That's so as to not suppress innovation. That's what the Patent office does, it makes a call based on what's in the public interest there; stimulate innovation and not suppress it. That's why patents only have a set lifetime because it's giving the holder exclusive rights. But they can be extended in a number of ways also with further innovations.
The key is AFAI can tell, MSB has rigorously defined families of patents, and also has the manufacturing process nailed down.
https://www.mesoblast.com/science/intellectual-propertyhttps://www.mesoblast.com/science/manufacturingDrafting patents well is a serious talent. That's why I was interested in early on about who our legal team was.
What's solid is Peter Howard is the General counsel to MSB and we have continuity there (emphasis added). His most likely are the brains behind the company structure which AFAI can see, insulates MSB against hostile takeover. It couldn't protect us against Cephalon being taken over by Teck but it's still a tremendous achievement. I keep on pointing out this structure when people bang on about MSB being a takeover candidate. Not. Going. To. Happen. IMO.
The legal/intellectual property side is complex for the average punter, and it's one reason why MSB has been so undervalued. It's not easily understood and when you have revolutionary technology, that's not always going to be fully appreciated either.
I have to say that with the great website and communications it's a heck of a lot easier to understand MSB now than in the early days.
(It was fun though!)
I've added the manufacturing expert as well, since this is another key to what sets MSB apart from any rivals: the ability to scale up with reliability and efficacy.
Peter Howard, BSc, LLB (Hons)
Corporate Executive & General Counsel
Mr Howard has been integrally involved with Mesoblast since its inception in 2004, when he played a critical role in the corporate structuring and listing of Mesoblast on the ASX. More generally, he has extensive experience with many biopharmaceutical firms and major research institutions, covering public listings, private financings, strategic, licensing, intellectual property and mergers and acquisition activities. Mr Howard has done so in several roles, including as a partner at a major law firm, entrepreneur, director and senior executive.
John McMannis, PhD
Manufacturing
Dr McMannis has 27 years of experience in clinical cellular therapy trials in both academic and commercial environments. Before joining Mesoblast in 2011, he served at the University of Texas MD Anderson Cancer Center as a Professor of Medicine from 1999 to 2011, and as the Director of the Cell Therapy Laboratory from 1999 to 2011, and as the Technical Director of the Cord Blood Bank from 2008 to 2011. Before his tenure at the University of Texas MD Anderson Cancer Center, Dr McMannis was a Senior Director Technical Affairs at the Immunotherapy Division of Baxter and Therapy Scientist at COBE BCT (now Terumo BCT). He has served on the scientific advisory boards at BioSafe SA, Biolife Solutions, Inc., and General Electric and on the board of directors for the American Association of Blood Banks, or AABB, and the National Marrow Donor Program, or NMDP, which operates the “Be the Match” donor program.
https://www.lawyersweekly.com.au/biglaw/7450-jws-and-middletons-act-on-stem-cell-allianceThat deal won International Biotech Licensing deal of the year in 2011. Now the brains behind that deal is AFAIK still with MSB. This is why we continue to hold out and won't settle for any old deal that would keep the traders happy!
How do I break the rules and love MSB? Let me count the ways....
(20min delay)