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Going Once, Going Twice…

This article was originally published in Start Up

Executive Summary

George Pieczenik, PhD, just got a patent that he insists is critical to the field of combinatorial chemistry. It covers the use of molecular libraries for screening. He and partner David Chassen believe it is so important that they are proceeding wth an unusual licensing strategy--they are planning to hold a series of auctions over the Internet for exclusive rights to the patent for particular screening applications. So far biotech companies don't seem to know much about the patent and those which have heard of it aren't paying it much attention. The auction will say something about how others perceive the value of the patent
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