Patents play an increasingly important role in innovation and economic performance. As the race for technology and innovations heats up, so does the application for patents. In 2017, almost 20,000 patents for medical technology were filed under the Patent Cooperation Treaty (PCT), all seeking protection for their inventions and creations by the PCT, which is covered in 153 countries.
Glucosenz aims to obtain patent protection on a global scale under the purview of PCT. This is achieved by filing a single international patent protection request, greatly simplifying the process of safeguarding its first in the world, non-invasive glucose monitoring device technology. With this step, Glucosenz’s future is assured as we conserve our best interest across the globe.
PCT is world renowned and recognised all around the globe by major corporations, research institutions and universities alike as it postpones the significantly high costs most associated with seeking an international patent protection, putting a spring to development as we make the final push towards commercialisation.
As of note, Glucosenz is currently filing for PCT in Australia, with the assistance of Pintas IP, our strategic partner specialising in the creation, protection and globalisation of intellectual property rights in ASEAN countries and beyond. Locally, Glucosenz has already obtained a MyIPO patent under the Ministry of Domestic Trade and Consumer Affairs, protecting our interest in Malaysia.
An adequate patent protection not only acts as a catalyst for research, but also an essential requirement for Glucosenz’s fundraise. As such, the importance of having patent protection is tantamount to Glucosenz’ future.