Frontier IP Group plc Portfolio news: Access to Elute's Patent Reader
28 Mayo 2020 - 1:10AM
RNS Non-Regulatory
TIDMFIPP
Frontier IP Group plc
28 May 2020
RNS REACH
AIM: FIPP
28 May 2020
Frontier IP Group Plc
("Frontier IP" or the "Group")
Portfolio news - Elute Intelligence engages user group of
experienced patent professionals to help them search patents more
effectively and efficiently
Frontier IP, a specialist in commercialising intellectual
property, notes the following announcement from portfolio company
Elute Intelligence Holdings Limited ("Elute" or the "Company").
Elute has opened up access to its Patent Reader to a group of
experienced patent professionals to help them effectively and
efficiently find relevant information.
The group includes users from multi-nationals, high-tech SMEs
and professional intellectual property services providers. Elute's
novel advanced software tools enable them to intelligently search
patent information to identify documents of most relevance. Their
feedback will be used to refine the Patent Reader ahead of a formal
product launch later this year.
The Company launched a dedicated COVID-19 Document Reader
earlier this year to support scientists researching the disease
find relevant documents more swiftly and easily.
Frontier IP holds a 43.5 per cent equity stake in the
Company.
Elute Intelligence statement begins:
Elute Intelligence launches Patent Reader product to user
group
Elute Intelligence Holdings ("Elute") today announces it has
opened up access on its Patent Reader platform to a group of
experienced patent professionals helping them to effectively and
efficiently find relevant patent information.
The group includes users from patent rich multi-nationals,
high-tech SMEs and professional IP services providers. Elute's
novel advanced software tools enable the users to intelligently
search patent information, identifying those documents of most
relevance.
Elute's artificial intelligence searches, compares and analyses
documents to identify similarities between them by mimicking the
way people read. The users are able to enter existing patents,
draft applications, research papers on topics of interest and
identify relevant patents. This means the approach is very
different to conventional keyword or Boolean search technologies. A
patent application has been filed to protect developments of the
technology.
Elute will use feedback from the user group to refine the Patent
Reader functionality in advance of a formal product launch later in
the year.
Elute was incorporated last year from an existing UK business
CFL Software Limited and included complementary intellectual
property developed by Frontier IP. Existing customers include the
Universities and Colleges Admissions Service ("UCAS") which is
using a version of the software called Copycatch to detect
plagiarism in students' personal statements. Others include
academic institutions, commercial researchers and lawyers.
Alex Tame, Head of Licensing and IP Management, Oxbotica, said
"Using a whole document as a basis to search IP rather than the
more traditional method of constructing complex search strings has
totally transformed the way I extract valuable IP information to
support the business.
"Elute's technology has now reached a level of accuracy and
simplicity that means complex search strategies and software are no
longer required. The automatic ranking of search results
immediately directs me to the most relevant patents and I can
instantly understand why they appear to be the most relevant. The
ability to review more ideas and inventions quickly and in depth
while spending less time on the searching will no doubt help many
people across the IP industry "
Peter Fischer, Chief Executive Officer of Elute Intelligence,
said: " We are pleased to be opening up access to Patent Reader to
an impressive group of experienced patent professionals and look
forward to their feedback. We believe that Patent Reader has the
ability to profoundly change the way patent search is carried out
with huge benefits to our customers."
Matthew White, Chief Commercialisation Officer of Frontier IP
Group, said: "Patent Reader is another demonstration of Elute's
ability to rapidly identify relevant information in large datasets.
The underlying capability has enormous value in unstructured data
search and comparison."
Elute Intelligence Holdings statement ends
ENQUIRIES
Frontier IP Group Plc T: 020 7332 2338
Neil Crabb, Chief Executive
-----------------
Andrew Johnson, Communications & Investor M: 07464 546 025
Relations
-----------------
Group website: www.frontierip.co.uk
-----------------
Allenby Capital Limited (Nominated T: 0203 328 5656
Adviser)
-----------------
Nick Athanas / Nicholas Chambers
-----------------
ABout frontier IP Group
Frontier IP unites science, finance and industry to build
businesses based on outstanding research. It identifies strong
intellectual property and accelerates its development through a
range of commercialisation services. A critical part of the Group's
work is involving relevant industry partners at an early stage of
development to ensure technology meets real world demands and
needs.
The Group looks to build and grow a portfolio of equity stakes
and licence income by taking an active involvement in spin-out
companies, including support for fund raising and collaboration
with relevant industry partners at an early stage of
development.
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