RCS - Frontier IP Group - Elute Intelligence Patent Reader launched

Frontier IPAnnouncement

01/09/2020 07:01

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RNS Number : 5446X  Frontier IP Group plc  01 September 2020

RNS REACH

AIM: FIPP

01 September 2020

 

Frontier IP Group Plc

("Frontier IP" or the "Group")

 

 

Portfolio news -  Elute Intelligence ground breaking Patent Reader launched
commercially

 

 

Frontier IP, a specialist in commercialising intellectual property, notes the
following announcement from portfolio company Elute Intelligence Holdings
Limited ("Elute" or the "Company") that it is to launch its innovative Patent
Reader product commercially.

The move follows a successful pilot with a dedicated user group comprising of
members from multinationals, high-tech SMEs and professional intellectual
property service providers.

Elute launched a dedicated COVID-19 Document Reader earlier this year to help
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 Holdings ground breaking Patent Reader launched
commercially

01 September 2020 Elute Intelligence Holdings ("Elute" or the "Company") is to
make patent searching quicker and easier with the commercial launch of a
Patent Reader based on its novel software tools, which mimics the way people
read, to intelligently search and compare unstructured text-based information.

The move follows a successful pilot with a dedicated user group comprising
patent rich multi-nationals, high-tech SMEs and professional IP service
providers, such as lawyers, established to support the Patent Reader's
development.

The Patent Reader allows users to identify relevant patents and understand why
they are relevant within minutes of starting a search. Initially, they will be
able to search from more than 70 million patents in major jurisdictions,
including the United States, China, the European Union and worldwide.

It is one of many potential applications for Elute's technology. The Company's
software searches, compares and analyses documents to identify similarities
between them by mimicking the way people read. 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 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.

 

Peter Fischer, Chief Executive Officer of Elute Intelligence, said: "We
believe that Patent Reader has the ability to profoundly change the way patent
search is carried out with huge benefits to our customers. I would like to
thank the user group for its support and feedback, which has proved invaluable
in allowing us to refine the product."

 Matthew White, Chief Commercialisation Officer of Frontier IP Group,
said: "We are delighted with the very rapid progress being made by Elute
since we started working with them last year. The Company's unique technology
has a very broad range of applications. The Patent Reader is among the first
products to take advantage of its immense potential."

 

 

Elute Intelligence Holdings statement ends

 

 

ENQUIRIES

 Frontier IP Group Plc                                                  T: 020 7332 2338
 Neil Crabb, Chief Executive                                            neil@frontierip.co.uk

 Andrew Johnson, Communications & Investor Relations                    M: 07464 546 025

 Company website: www.frontierip.co.uk (http://www.frontierip.co.uk/)
 Allenby Capital Limited (Nominated Adviser)                            T: 0203 328 5656
 Nick Athanas / James Hornigold

 

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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