Sealed-Bid Auction of Eccrine Systems’ Entire Intellectual Property Portfolio Consisting of Granted Patents, Patent Applications and Trademarks. No Minimum Bid - High Bidder Takes It All.
Eccrine Systems, Inc. Patent Portfolio focuses on the individualization of prescription medicine with a platform for remote, non-invasive, and quantitative medication monitoring through sweat.
Eccrine Systems Auction - Bid Submission Form
The auction will convey all of Eccrine’s interests in its granted patents, patent applications and trademarks. The successful buyer will also receive a disk from Eccrine Systems containing significant proprietary data.
Eccrine Patent Portfolio Report
Eccrine Granted Patents and Patent Applications (Exhibit A)
Eccrine Patents and Patent Applications co-owned with University of Cincinnati (Exhibit B - ONLY Eccrine’s ownership portion will be conveyed)
University of Cincinnati “Confirmation of Right to Convey Patent Rights”
Eccrine Trademarks (Live and Dead)
Granted Patents PDF’s and Patent Analysis Reports
Disk of Proprietary Data containing:
1. Physiological studies (study plans, designs, protocols, data)
2. Device (designs, electronics, software)
3. Sensor (designs, protocols, results)
4. Aptamer discovery (sequences, processes, results)
Eccrine’s Patents and Trademarks are subject to lien held by The State of Ohio, Development Services Agency. The State of Ohio will remove its lien upon its receipt of its legally entitled auction proceeds.
All information posted is believed to be from reliable sources and accurate, however Bidders shall have the responsibility to conduct their own independent Due Diligence PRIOR to submitting a Bid. There will be a 10% Buyer’s Premium added to the High Bidder’s bid price - High Bidder will therefore be invoiced at 110% of the High Bid Price submitted.
Eccrine Systems - Auction Bid Instructions
Bidder Due Diligence - It shall be the responsibility of all Bidders to conduct their own independent Due Diligence in advance of submitting a bid in this auction. Although information provided by The Patent Exchange is believed to be from reliable sources, Bidders shall arrive at their own independent conclusions and make their bids based solely upon their own Due Diligence.
Buyer’s Premium – There will be a 10% Buyer’s Premium calculated upon the High Bidder’s bid price which will be added to the High Bidder’s Bid price. The High Bid price, plus the 10% Buyer’s Premium of that High Bid Price will constitute the Purchase Price to be paid by the High Bidder.
Bid Submission Deadline - Bids submitted must be made using the provided Bid Submission Form and must be received by The Patent Exchange no later than 5 pm PST on February 16th, 2022.
Non-Revocation of Bids After Bid Submission Deadline - Bids submitted prior to the Bid Submission Deadline may be revoked by the Bidder (in writing via email) up until the Bid Submission Deadline of 5pm PST on February 16, 2022. Bids received by The Patent Exchange as of the Bid Submission Deadline (other than revoked Bids per the prior sentence) will be deemed in force as of the Bid Submission Deadline and will have created a contractual obligation on the part of the Bidder to complete the transaction, should that Bid be determined to be the High Bid.
Bids shall be submitted on a “Best and Final Basis” – Bidders are advised to bid on a “Best and Final Basis”. In the event of close bid price competition among the high bidders, Seller and The Patent Exchange reserve the right to conduct a telephonic overbid auction among the high bidders to determine the final high bid price, at a date and time to be determined after the Bid Submission Deadline.
Notification of High Bid and Invoice – The Patent Exchange will notify the High Bidder via email on February 17th, 2022, and will provide High Bidder with an Invoice (High Bid Price + 10% Buyer’s Premium) and wire instructions for making full payment via wire transfer no later than February 22nd, 2022. Upon receipt of full payment by the High Bidder, The Patent Exchange will provide High Bidder with an updated “Paid-in-Full” invoice. All other Bidders (other than the High Bidder) will be notified on February 17th, 2022 that their bid was not the High Bid.
Lien Removal by State of Ohio Economic Development Agency – Upon receipt of its legally entitled auction proceeds the State of Ohio Economic Development Agency will expeditiously remove all liens against Eccrine to enable transfer of free and clear title of the auction assets to High Bidder. The State of Ohio will send proof of lien removal to The Patent Exchange who will in turn send to High Bidder.
Patent Assignment Document – High Bidder will receive for mutual execution a Patent Assignment Document prepared by Eccrine Systems conveying its rights in the Intellectual Property.