Founded in 2018, Caristo was spun out from the University of Oxford with the goal to commercialise a novel cardiovascular disease prediction test and bring it in to clinical practice all over the world.
Currently, a first line test for cardiovascular disease is a coronary CT angiogram (CCTA). Caristo’s novel test analyses a standard CCTA to extract information on the inflammation present in the coronary arteries. Inflammation is the key process that leads to plaque formation and subsequent plaque rupture (and heart attack). For the first time, this test will allow cardiologists to predict the risk of heart attack over the following 10 years by examining the inflammatory state of the coronary arteries.
Currently based at Oxford Business Park, the company’s core technology is based on patent-protected imaging algorithms and will subsequently build in novel AI methods – further contributing to a strong IP portfolio.
Oxford Innovation advisers Linda Cheung and Jakub Rakoczy recommendation IP audit from the Intellectual Property part of our Innovate 2 Succeed programme. The key reasons for undertaking the IP Audit was for the company: to understand its options to extend their current patent portfolio in line with the company’s ambitious product roadmap; to assess general IP handling within the business; and to explore trade-mark strategies in regions where products and services are expected to be exported.
Following the recommendations made by the audit Report, the company is more aware of what processes need to be in place internally to exploit potential IP as well as increased awareness and the need to capture this information and review regularly.
Caristo’s COO Dr Dan Green, commenting on how the IPO funded audit has been beneficial to the business:
“We are a high-tech, knowledge-intensive company, so the right strategy to manage our IP is essential to the business. The IP Audit was very useful in helping guide us towards a strategy here, not only for patents but also know-how, trademarks and copyright.”
Using the follow up advice from their Oxford Innovation adviser, Caristo now plan a review of systems to ensure robust controls for all aspects R&D going forward with a better understanding of the cost implications. Dr Green explained:
“The IP audit report, together with advice from Oxford Innovation, has helped us to cost up and map out the IP strategy in the near-and long-term. We have identified a local attorney to continue this work with and feel confident our IP will be well-managed going forwards.”
When asked what advice they would give to other businesses considering applying for an audit, Dr Green said: “The IP audit is a very useful tool for SME’s. We would definitely recommend the service.”
Client business: Caristo Diagnostics
Coach: Jakub Rakoczy
Category: Intellectual Property