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December 7, 2004

Purdue Pharma L.P. Retains Millennium Marketing Group To Help Commercialize Medical Technologies

 

Contact:        Mark A. Petheram, Vice President of Business Development   

                        Phone: 913-317-9114

Email: mpetheram@patentmovers.com

 

(OVERLAND PARK, KAN.) December 7, 2004 — Millennium Medical Group, a subsidiary of international advertising agency and marketing consulting firm, Millennium Marketing Group, has been selected by Connecticut-based Purdue Pharma L.P., to commercialize some of the company’s intellectual property rights for technologies that fall outside of their core pharmaceutical product lines.  Among these innovations are non-invasive blood glucose monitoring technologies, enhanced cancer diagnostics and chemotherapy monitoring systems, as well as numerous novel analytical technologies.

 

As the outsourced licensing agent, Millennium Medical Group will assist Purdue in promoting its technological innovations for both the medical and scientific communities to companies across the United States, in the effort to secure licensing agreements and ultimately introduce these cutting edge technologies to the marketplace.

 

This partnership reflects Millennium Medical Group’s focus on establishing itself as the premier IP licensing service and technology broker for the pharmaceutical, medical and biotechnology industries. Commenting on this new relationship, Millennium Medical Group’s Director of Business Development, Ian Nyquist, said, “This move dovetails with our long-term strategy of building bridges to the life sciences community.  By focusing on this ever-exploding niche market, we are playing on our strengths. We also believe that, as a firm, we are defined by the company we keep.”

According to Wood McKenzie’s Licensing Insight 2004, “Licensing is big business for pharmaceutical and biotechnology companies. In 2003, licensed products accounted for more than $70 billion in revenues for the top 20 pharmaceutical companies. By 2007, that figure will jump to $95.8 billion.”

 

Headquartered in Stamford, Connecticut, Purdue Pharma L.P. and its independent U.S. associated companies are known for their pioneering research on a principal cause of human suffering: persistent pain. These associated companies have also applied their expertise to other therapeutic areas such as respiratory diseases, oncology, and bacterial infections, and to a growing line of non-prescription products including laxatives, microbicides, antibiotic ointments, and nutraceuticals.

 

Millennium Marketing Group, Ltd., based in Overland Park, Kansas, is an international marketing firm, established in 1998, that commercializes new products with a primary emphasis on its technology brokerage division. Its medically focused subsidiary, Millennium Medical Group, focuses specifically on licensing cutting edge technology in the health care industry.