Key Takeaways from Know the Money in Montreal

On January 16, 2025, we had the privilege of bringing our popular Know the Money event to a new audience in Montreal, connecting with leaders from the life sciences, technology, and business sectors. Co-hosted by Stratford Intellectual Property, EY, and Corealis Pharma, in collaboration with BIOQuebec, the event provided an engaging platform for exploring the intersections of innovation, intellectual property (IP), artificial intelligence, drug formulation, and funding opportunities.

Panel discussions delved into strategies for protecting IP, managing risks and opportunities tied to AI, and accessing government and private funding to scale businesses, resulting in actionable insights that attendees could implement to drive innovation and growth.

Presenters & Panelists

• • • Benoit Larose – CEO, BIOQuebec
    • Patrick Gosselin, Ph.D. – Vice President, Pharmaceutical R&D, Corealis Pharma
    • Myriam Davidson – Vice President, Stratford Intellectual Property
    • Julia Bolpois – Senior Manager, EY
    • Bill Celiak – CEO, Meridius BIO
    • Irenej Kianicka – Senior Director, Drug Development, Laurent Pharmaceuticals Inc.
    • Jean-Nicolas Chagnon – Director of Operations, Divocco Group
    • Dr. Nathan Yoganathan – President and CSO, JN Nova Pharma Inc.

Each brought unique expertise and insights, fostering a dynamic and engaging dialogue about challenges and opportunities in their respective fields.

Top Takeaways

Geared towards an audience of entrepreneurs, executives, and investors, the event addressed some of the most pressing questions about protecting intellectual property in the age of AI, the critical role IP plays in drug formulation and scaling biotech businesses, and the best strategies for securing funding  to fuel innovation and growth. 

1. The Importance of a Holistic IP Strategy

A strong IP strategy requires stepping back to consider a broader perspective. Experienced outside advisors can offer that critical perspective to guide decision-making. Rather than rushing to file patents, a strategic approach allows businesses to step back, evaluate their priorities, and identify the best areas for protection. This ensures the creation of a comprehensive IP estate that aligns with both current needs and long-term goals.

• • Continuity Matters: Taking the time to step back and craft a well-rounded IP strategy is essential for long-term success. This involves not only ensuring continuity in the approach but also periodically reviewing the strategy to align it with evolving business goals and market opportunities. Leveraging outside advisors can help provide a broader perspective. Inconsistent strategies can often lead to financial losses and missed opportunities.
  • Finding the Right Mix: Building the right team is crucial to effective IP management. A balanced mix of “cowboys,” who bring exploratory thinking and broader application perspectives, and “farmers,” who possess deep, detailed knowledge of the specific situation, can drive a comprehensive and adaptable strategy.
  • Balancing a Broad Strategy with Market Relevance: A strong IP strategy also requires focusing on creating patents and protections that are not only broad but also highly relevant to market needs. Scientists often feel pressured to file patents quickly, but a broader strategy can help identify the best areas for protection and build a comprehensive IP estate. This ensures that the strategy supports the business's goals and provides a solid foundation for growth and competitive advantage.

2. Leveraging R&D for IP Strength

A strong IP strategy integrates closely with R&D, ensuring that innovations are aligned with strategic goals. By collaborating early in the development process, businesses can identify opportunities for robust protection and build a solid foundation for their IP portfolio.

• • From "Aha" to Application: When R&D teams have an "aha" moment, integrating those insights with business intelligence ensures the greatest possible impact. This approach aligns innovation with strategic objectives, setting the foundation for effective IP protection.
  • Collaborating During Development: Close collaboration with R&D teams throughout product development like drug formulation supports robust patent applications, ensuring experimental data is available and aligned with market needs. The timing of your pharmaceutical entity and formulation IP can also be a strategic lever.

  • Strategic Claims: It is critical to pursue market-relevant patents with the broadest claims possible - in the formulation business, this includes considerations of genus and species types - to secure comprehensive IP coverage.

3. AI and IP: Balancing Risks and Opportunities

AI is reshaping innovation and research but requires thoughtful management to mitigate risks and protect sensitive information.

• • AI’s Role in Innovation: AI is changing the way work is conducted, supporting the development of new innovations and enhancing research processes, but it must be managed intentionally to avoid risks like attribution errors and inadvertent loss of IP.
  • Data Management: Implementing generative AI tools like Microsoft Co-pilot requires diligence in rights management and careful consideration of where data is stored to ensure control over access to sensitive information like trade secrets.
  • Real-World Examples: Panelists shared cautionary tales of IP loss through unintentional public disclosures, both digitally and in person, emphasizing vigilance in using meeting apps and public platforms to mitigate risk and maintain security.

4. Maximizing Funding Opportunities

Securing funding is essential for scaling innovation, and understanding available resources helps businesses accelerate growth without sacrificing equity.

• • Government Grants and Programs: Leveraging non-dilutive capital is a powerful way to accelerate development and scale, providing businesses with essential resources while maintaining ownership.

  • Keeping Up to Date: With funding options evolving, working with consultants helps businesses focus on the most suitable sources at the right time, ensuring efforts are strategic and impactful.

  • Lessons Learned: Aligning IP strategies with funding opportunities ensures smoother navigation of regulatory landscapes and maximizes financial support.

Why This Event Resonated

This Know the Money session tackled some key questions like: How do you protect intellectual property in the age of AI? What role does IP play in pharmaceuticals, drug formulation, and scaling biotech businesses? Where can you find the right funding to drive innovation and growth?

The insights shared during the event offered valuable guidance for navigating the complex intersections of intellectual property, pharmaceuticals, innovation, and funding. By understanding the strategic importance of IP in the age of AI, effectively leveraging R&D breakthroughs, and accessing non-dilutive capital, businesses can position themselves for growth and success. 

We look forward to continuing to explore important topics like these at the next Know the Money event! If you would like to be added to the guest list for future Know the Money events, send us a message!