Reaxys to enhance chemistry patents with patent provenance for greater competitive intelligence insights
Elsevier’s Reaxys becomes the leading source of curated chemistry patents in collaboration with LexisNexis’ PatentSight
February 2, 2022 – Elsevier, a global leader in research publishing and information analytics, is pleased to announce its market leading position in chemistry patent coverage and the extension of its collaboration with LexisNexis® PatentSight®. In March 2021, Elsevier launched its initiative to strengthen the existing patent coverage in Reaxys®. The content expansion resulted in a 15-fold increase in patent coverage and ensures pharma and chemical companies and their researchers do not miss key competitive intelligence insights.
The number of discoverable patents in Reaxys now exceeds 30 million, and the Reaxys-PatentSight collaboration will further enhance content with the patents’ ownership information. These insights will enable companies to better understand competitors’ IP strategies, identify innovative players in a field and confidently assess the commercial viability of their projects.
Marco Richter, Global Head of Product, LexisNexis Intellectual Property Solutions, said: “Competition is intense in R&D: With an increasingly diverse landscape of players in the pharmaceutical industry — from niche start-ups to emerging biotech companies, to academic research. To strengthen drug discovery capabilities and shorten development cycle, pharma companies often acquire specialized biotech companies or in-license drug candidates active in preclinical and clinical phases.
“Keeping up with the latest information about competitor IP activity and new research is a business-critical challenge. We are pleased to be continuing our collaboration with Elsevier to provide companies with more extensive information on IP history and understand that getting new drugs to market is a resource-intensive process for researchers and know our content can help accelerate this.”
The Reaxys updates will enhance competitive intelligence by distinguishing “current patent assignee” and “original patent assignee” to track ownership over time, demonstrating which companies are most prominent in a particular field. Easy-to-use search filters will allow users to sort between inventors and current patent holders. Further enhancements to the patent assignee ontology that unify different common and legal names for corporations will be released in 2022. This allows companies to avoid blind spots and stay on top of emerging competitors when assessing the competitive landscape for a technology.
Dr. Ivan Krstic, Head of Chemistry Solutions at Elsevier added: “Reaxys users want to clearly view current and past patent holders. These upgrades are in response to their feedback, and underlines our commitment to addressing user needs and responding in a timely manner with significant enhancements to the content and user experience. Because of this virtuous cycle, Reaxys has become the patent discovery space for chemists in pharma and chemical companies.
“This work underpins our vision to make Reaxys the most comprehensive, innovative and authoritative chemistry research information system that supports chemistry workflows and use cases, enabling the digital transformation that organizations need to achieve to help drive better research outcomes.”
To find out more about the collaboration and patent coverage in Reaxys, visit the Reaxys website.