‘It’s not about making a fast buck – we’re building a patent portfolio that will give us great opportunities going forward’

– When you’re standing there presenting your innovation or business idea, patents often come up as a question early on. It carries a lot of weight with investors and can be key in their decision making. In our case, we’re building a patent portfolio that will give us great opportunities going forward.
So says Olof Böök, CEO of Lument.

The Lund-based company Lument has developed a contrast agent for medical computed tomography (CT) scans that produces better images than the standard contrast materials. It has the advantage that patients can be diagnosed sooner by using CT equipment rather than the more expensive magnetic resonance imaging or MRI. Lument has also developed a mixing tool that makes it safe and easy for clinics to prepare the contrast agent.

The drinkable contrast agent is made only of food-grade, medically approved ingredients, and provides a strong contrast between the contents of the intestine and its wall and the mucous membrane, says Olof, who sees their innovation providing a socioeconomic contribution in the long run because of faster, safer diagnosis and treatment.

– In the world in which we operate, we want and need to attract external capital. Strategically speaking, patent protection is part of our business plan for being attractive, says Olof, who is used to sales pitch questions about where they are with patent protection.

With several patent applications filed and more in the pipeline, Lument has a plan that stretches several years ahead. It is clear there is still a way to go on the winding path every medical tech company has to take. But Olof, with his extensive experience, is quietly confident.

– You have to accept that things can’t be rushed! It’s a huge achievement to reach the market and see our products in use, but it’s also a very inspiring journey. We’re continually reaching milestones, adding to our successes along the way.

A collaboration based on dialogue and complementary skills

Olof Böök and Magnus Berglund’s collaboration goes back several years. Filip Skarp was brought in to work on Lument’s patent process, because it includes a technical product for the preparation of the meringue-like contrast agent foam.

– Magnus was brought in early in the process, well before it was actually time to file our first patent application. He saw the potential, and right from the start we’ve had the opportunity to discuss things and set out a strategy going forward, says Olof, who explains that trust is what really matters to him when choosing a patent consultant and agency .

He isn’t worried by having to wait for decisions or objections either.

– It’s not unusual to have to re-evaluate and make adjustments, even during the development phase. In a way that’s true of the whole process, from the very first idea. We started by thinking broadly and then succeeded in pinpointing the right focus. Mainly that’s because we’ve collaborated with talented patent attorneys alongside our own strong development team here. Magnus and Filip together have brought us the mindset and competence we needed, especially in how the people who assess patent applications think. We’ve circulated numerous texts between us. It’s all about dialogue and partnership, says Olof.

– Both Filip and Magnus understand what we’re doing and where we want to end up. Our business idea is integral to our patent strategy, and they know it inside out. They have scrutinised us down to the smallest detail, and the result is mutual trust and a collaboration that works extremely well. It feels like we’re in safe hands with the entire Ström & Gulliksson team.

– We did the homework on positioning our application together. It comes down to protecting the correct links in the company’s value chain. Identifying what really matters, our discussions have revolved around technology and preparation. Bringing in others from Ström & Gulliksson – in this case Filip Skarp – is typical of our way of working, delivering the right competence at the right moment, says Magnus, who values the collaboration with Lument.

Step by step – study by study

The clinical prototype is ready and, following an approved Phase 2 study, work is well underway on the Phase 3 study, a registration study, which Lument hopes to start in the second quarter of 2023. The detailed plans run to 2027 and call for determination and patience.

– Some patent processes for some industries and some products are a bit more open track. In our industry, patent rights are clustered together. It’s expensive and time-consuming to develop medicines and medical equipment, and with it there’s a substantial regulatory framework.

Encouraged by its successful patent applications and studies, Lument is approaching the commercial phase, and Olof is looking forward to the new challenges ahead.

– It’s not about making a fast buck! It’s enough for now that we’ve made it this far, and that others believe in us and can see the added value we’re creating.

More about Lument AB
Lument was founded in 2009. It is the brainchild of Thomas Fork and Ingvar Adnerhill, consultant radiologists at Skåne University Hospital. The research company Aventure AB, launched by the founders of Oatly, is its largest shareholder. 

The management team at Lument today:

Olof Böök
PhD, CEO

Lucia Casal Dujat
PhD, CSO

Jan Marsal
MD, PhD, CMO

Rina Liu
MSc, Head of Technology Development

Katarzyna Krawczyk
PhD, CMC and Quality Officer