Abstract:
Answers to predetermined life sciences opportunity questions are firstly received from a first party, preferably a seller of a life sciences opportunity. Responses to the predetermined life sciences opportunity questions are then acquired from a second party, preferably a buyer of a life sciences opportunity. A first sum is subsequently calculated of all of the responses that match the answers for each of said predetermined life sciences opportunity questions, and from the answers and the responses, a second sum is computed of all of the questions that both the first party and the second party deem to be applicable to the transaction, for each of said predetermined life sciences opportunity questions. The first sum and the second sum are finally displayed to the second party, such that the second party can assess the life sciences opportunity.

Description:
[0001]    The present invention relates generally to locating life sciences opportunities that reflect a searcher&#39;s requirements, and more particularly to a method for locating and assessing life sciences opportunities via an electronic network.  
         BACKGROUND OF THE INVENTION  
         [0002]    With growing competition in the life sciences industry, biotechnology and pharmaceutical companies are under increasing pressure to develop more and better life sciences products. To meet these demands, biotechnology and pharmaceutical companies must often rely on each other to find new life sciences products which they then develop through joint ventures or licensing. This reliance has led to increasing partnering activity between and among life sciences companies and an increased need to seek out new life sciences opportunities.  
           [0003]    Illustratively, a large pharmaceutical company interested in producing a cancer drug will often seek out smaller companies that have already done the initial research and are ready to conduct clinical trials. By taking advantage of work done by the smaller company, the larger company can significantly reduce the time required to bring a cancer drug to market. Similarly, small pharmaceutical companies often do not have the resources required to bring a drug to market. Thus, a small company that has done the initial research and is ready to conduct clinical trials must partner with a large pharmaceutical company and share in the costs of conducting such trials. Alternatively, the smaller company will license the drug to a large pharmaceutical company and let it bring the drug to market. Thus, pharmaceutical and biotechnology companies are always in search of new life sciences opportunities that might be useful in their product development or partnering with a life sciences company that is seeking a new life sciences opportunity.  
           [0004]    Additionally, large life sciences companies are often inundated with opportunities from companies interested in selling or licensing life sciences products. Often these selling companies present information in a manner that does not permit quick and easy comparison among the available opportunities. Thus, the company must spend considerable time and resources reviewing and analyzing the voluminous information provided by the selling companies to determine which opportunities require further investigation.  
           [0005]    Moreover, current procedures for locating and assessing life sciences products are cumbersome, time-consuming, and often lead to an unsuccessful outcome. In order to assess the value of a life sciences product, companies must read and analyze large volumes of data generated during the development phase of the life sciences product and conduct in-person meetings with the selling companies. Often, after spending considerable time and effort reviewing the data and conducting such meetings, the searching company concludes that the opportunity does not meet its needs, thereby amounting to a waste of valuable resources.  
           [0006]    Existing electronic systems, such as WWW.PHARMA-TRANSFER.COM, provide an electronic database of available life sciences opportunities. However, these systems do not organize the data in a standardized format or consider the buyer&#39;s needs when searching for opportunities for the buyer. Other electronic systems, such as WWW.PHARMALICENSING.COM, contain vast amounts of information in large databases that are difficult to navigate. Additionally, the information provided by these electronic systems is not reviewed for scientific merit. Thus, a buyer must conduct further investigation to determine whether the information provided by the seller is accurate and not just marketing puffery.  
           [0007]    For the foregoing reasons, there is a need in the art for an electronic system that locates life sciences opportunities based on the buyer&#39;s requirements, an electronic system where the information provided by the seller has been reviewed for scientific merit, and an electronic system that presents information in a standardized format, facilitating a quick comparison of available life sciences opportunities.  
         SUMMARY OF THE INVENTION  
         [0008]    The invention provides for a system and method for locating and assessing life sciences opportunities that satisfy a searcher&#39;s requirements. In the preferred embodiment, Answers to predetermined life sciences opportunity questions are firstly received from a first party, preferably a seller of a life sciences opportunity. Responses to the predetermined life sciences opportunity questions are then acquired from a second party, preferably a buyer of a life sciences opportunity. A first sum is subsequently calculated of all of the responses that match the answers for each of said predetermined life sciences opportunity questions, and from the answers and the responses, a second sum is computed of all of the questions that both the first party and the second party deem to be applicable to the transaction, for each of said predetermined life sciences opportunity questions. The first sum and the second sum are finally displayed to the second party, such that the second party can assess the life sciences opportunity.  
           [0009]    In the preferred embodiment, the sums are displayed as a ratio, with the numerator containing the first sum and the denominator containing the second sum. This ratio facilitates a quick assessment of how a life sciences product matches the transnational requirements of the second party. 
       
    
    
     BRIEF DESCRIPTION OF THE DRAWINGS  
       [0010]    Additional objects and features of the invention will be more readily apparent from the following detailed description and appended claims when taken in conjunction with the drawings, in which:  
         [0011]    [0011]FIG. 1 illustrates a system for locating and assessing life sciences opportunities in accordance with an embodiment of the invention;  
         [0012]    [0012]FIG. 2 illustrates an opportunity data structure in accordance with an embodiment of the invention;  
         [0013]    [0013]FIG. 3 illustrates a graphical user interface (GUI) of an exemplary relevance ratio question set for an opportunity type in accordance with an embodiment of the invention;  
         [0014]    [0014]FIG. 4 illustrates an opportunity type data structure in accordance with an embodiment of the invention;  
         [0015]    [0015]FIG. 5 illustrates a data structure for storing buyer information in accordance with an embodiment of the invention;  
         [0016]    [0016]FIG. 6 illustrates a data structure for storing a buyer&#39;s preferences in accordance with an embodiment of the invention;  
         [0017]    [0017]FIG. 7 illustrates a GUI used for performing various tasks in accordance with an embodiment of the invention;  
         [0018]    [0018]FIG. 8 illustrates a GUI used for posting opportunities in accordance with an embodiment of the invention;  
         [0019]    [0019]FIG. 9 illustrates a GUI showing a drop down menu on a page used for posting opportunities in accordance with an embodiment of the invention;  
         [0020]    [0020]FIG. 10 illustrates a GUI for uploading information packets for an opportunity in accordance with an embodiment of the invention;  
         [0021]    [0021]FIGS. 11A and 11B illustrate the processing steps performed when posting an opportunity in accordance with an embodiment of the invention;  
         [0022]    [0022]FIG. 12 illustrates a GUI containing a company&#39;s opportunities in accordance with an embodiment of the invention;  
         [0023]    [0023]FIG. 13 illustrates a GUI for entering a buyer&#39;s search criteria in accordance with an embodiment of the invention;  
         [0024]    [0024]FIGS. 14A and 14B illustrate the processing steps performed when searching for opportunities in accordance with an embodiment of the invention;  
         [0025]    [0025]FIG. 15 illustrates the processing steps performed when searching for opportunities in accordance with an embodiment of the invention;  
         [0026]    [0026]FIG. 16 illustrates the processing steps performed when generating a result in accordance with an embodiment of the invention;  
         [0027]    [0027]FIG. 17 illustrates a result GUI in accordance with an embodiment of the invention;  
         [0028]    [0028]FIG. 18 illustrates a GUI containing detailed description of an opportunity matching the buyer&#39;s search criteria in accordance with an embodiment of the invention;  
         [0029]    [0029]FIG. 19 illustrates a GUI containing the buyer&#39;s responses, the seller&#39;s responses and the company&#39;s responses to the Relevance Ratio question set in accordance with an embodiment of the invention;  
         [0030]    [0030]FIG. 20 illustrates a GUI used to edit a buyer&#39;s priorities in accordance with an embodiment of the invention;  
         [0031]    [0031]FIG. 21 illustrates a personal profile GUI in accordance with an embodiment of the invention;  
         [0032]    [0032]FIGS. 22A and 22B illustrate the processing steps performed when editing a buyer&#39;s priorities in accordance with an embodiment of the invention;  
         [0033]    [0033]FIG. 23 illustrates a GUI containing the buyer&#39;s opportunity filters for each opportunity type in accordance with an embodiment of the invention;  
         [0034]    [0034]FIG. 24 illustrates a GUI for entering a buyer&#39;s search criteria for creating an opportunity filter in accordance with an embodiment of the invention; and  
         [0035]    [0035]FIGS. 25A and 25B illustrate the processing steps performed when creating an opportunity filter in accordance with an embodiment of the invention. 
     
    
       [0036]    Like reference numerals refer to corresponding parts throughout the several views of the drawings.  
       DESCRIPTION OF THE PREFERRED EMBODIMENTS  
       [0037]    [0037]FIG. 1 illustrates a system for locating and assessing life sciences opportunities in accordance with an embodiment of the invention. Although the preferred embodiment is described in the context of a buyer and a seller, those skilled in the art will appreciate that the invention can be practiced by any two parties where a party is a buyer, a seller or both a buyer and a seller. In the following description, the first party is a buyer and the second party is a seller.  
         [0038]    System  20  facilitates the exchange of information about life sciences opportunities between a first party and a second party. A life sciences opportunity is any technology, therapeutic, medical device, diagnostic, know-how in the life sciences industry, or the like. Life Sciences opportunities generally include those opportunities within Standard Industrial Code (SIC) industry group  283  or those opportunities within North American Industry Classification System (NAICS) industry group  3254 . A buyer is an entity such as an individual, a business, or an institution that is interested in purchasing a life sciences opportunity, obtaining a license for a life sciences opportunity, partnering with a company that is selling a life sciences opportunity, or the like. A seller is an entity, such as an individual, a business or an institution, that is interested in licensing its life sciences opportunity, selling its life sciences opportunity, partnering with a life sciences company, or the like.  
         [0039]    System  20  includes a plurality of clients  22  and at least one server  24 . Clients  22  and server  24  are connected by a network  26 . Network  26  is a local area network (LAN), wide area network (WAN), metropolitan area network (MAN), an intranet, or preferably the Internet. In one embodiment, system  20  is a standalone system on which a buyer can search for an opportunity or a seller can post an opportunity.  
         [0040]    Client  22  is any computing device that includes a Central Processing Unit (CPU)  30 ; a memory (primary and/or secondary)  32 ; communication circuitry  36 ; a user input/output device  38 ; and a bus  39  that interconnects these components. The communication circuitry  36  is used for transmitting and receiving data between client  22  and network  26 . Memory  32  typically stores computer programs, including network access software, such as a browser  34  which is used to view web pages on a display of the input/output device  38 . A user using a client  22  is a buyer, a seller, or both a buyer and a seller.  
         [0041]    Server  24  includes standard server components, including: communication circuitry  40 ; a CPU  42 ; a memory (primary and/or secondary)  44 ; and, a bus  46  that interconnects these components. The communication circuitry  40  is used for transmitting and receiving data between server  24  and network  26 . Memory  44  stores a set of computer programs and files used to implement the processing associated with the invention. In particular, memory  44  includes an Operating System  50 , an Application Server  52 , an Iterative Search Engine  54 , a Web Server  56 , and a Database  60 . In the preferred embodiment, Database  60  is stored on another server  24 .  
         [0042]    Operating System  50  stores instructions for communicating, accessing, storing, and searching data. Operating System  50  can be any operating system, including SOLARIS®, WINDOWS NT®, LINUX®, or MACOS®. Application Server  52  contains instructions for communicating data between Web server  56  and Database  60  and for processing data sent to or received from Web server  56 . Iterative Search Engine  54  includes instructions for searching Database  60  for opportunities that match a buyer&#39;s search criteria. Web server  56  is used to communicate with browser  34  via network  26  and to provide web page content to browser  34 . Web server  56  contains web page database  58 , and is used to transmit and receive information to and from clients  22 .  
         [0043]    Database  60  includes an Opportunity Database  62 , a Buyer Database  64 , and a Seller Database  66 . The Opportunity Database contains entries for each life sciences opportunity that is posted on server  24 . In the preferred embodiment, the life sciences opportunities are subdivided into opportunity types where each opportunity type represents a life sciences category. In this embodiment, Opportunity Database  62  contains an entry  210  for each opportunity type (See FIG. 2). Preferably, the life sciences opportunities are classified into the following opportunity types: Platform Technology, Discovery Research, Pre-clinical, Clinical, and Marketed Product.  
         [0044]    For each seller  68  stored in database  66 , Seller Database  66  includes entries for seller Profile  70  which contains general information about the seller, the seller&#39;s Contact Information  72 , the seller&#39;s Financial Information  74 , and the seller&#39;s Priorities  76 . Priorities  76  are the seller&#39;s preferences for each opportunity type. Seller priorities  76  contain the seller&#39;s responses to each question in the Relevance Ratio question set  212  (FIG. 2) for each opportunity type  210  (FIG. 2). In the preferred embodiment the seller&#39;s responses are selected from “Yes”, “No”, or “N/A.” 
         [0045]    The Relevance Ratio question set comprises a standardized list of technical questions and is used to assess each opportunity that matches the buyer&#39;s search criteria. The standardized list of technical questions contains questions that a typical buyer would ask when evaluating a life sciences opportunity. For example, a typical buyer searching for a clinical opportunity would want to know whether the minimum efficacious dosage has been established or whether toxicity studies have been completed. The relevance ratio indicates the extent to which the seller considered the standardized list of technical questions applicable to the posted opportunity and allows a buyer to quickly assess the quality and depth of development of a life sciences opportunity. The processing steps associated with generating a relevance ratio are described in greater detail below. FIG. 3 illustrates an exemplary list of standardized technical questions for the platform technology opportunity type.  
         [0046]    Typically, the Relevance Ratio question set for each opportunity type contains a unique set of technical questions. Thus, the Relevance Ratio question set for the platform technology opportunity type contains a different set of questions than the Relevance Ratio question set for marketed product opportunity type. However, those skilled in the art will appreciate that two opportunity types may contain the same set of technical questions.  
         [0047]    A seller master user is an authorized seller representative who may post, edit, review, or suspend the seller&#39;s opportunities. The seller master user indicates whether the seller considers the list of technical questions applicable to the posted opportunity by providing responses to the Relevance Ratio question set for each opportunity type. In one embodiment, application server  52  provides default responses to the Relevance Ratio question set  212  (FIG.  2 ). In the preferred embodiment, the master user can modify the default responses. In another embodiment, access to the seller&#39;s responses  76  is protected by a password, and only authorized seller representatives may edit the seller&#39;s responses.  
         [0048]    Similarly, a buyer master user is an authorized company representative who indicates the company&#39;s priorities by providing responses to the Relevance Ratio question set for each opportunity type. In one embodiment, application server  52  provides default responses to Relevance Ratio question set  212  (FIG. 2). In the preferred embodiment, the buyer master user can modify the default responses. In another embodiment, access to the company&#39;s responses  76  is protected by a password, and only authorized buyer representatives may edit the buyer&#39;s responses.  
         [0049]    [0049]FIG. 2 illustrates an opportunity data structure in accordance with an embodiment of the invention. Each opportunity type  210  in Opportunity Database  62  includes an entry  212  which contains a Relevance Ratio question set for that opportunity type. Opportunity database  62  further contains entries  214  for each opportunity posted for opportunity type  210 . The Relevance Ratio question set contains technical questions  216  designed to provide a buyer with information about a life sciences opportunity that a buyer would consider relevant when assessing the life sciences opportunity.  
         [0050]    [0050]FIG. 3 illustrates a graphical user interface (GUI) of an exemplary Relevance Ratio question set for an opportunity type in accordance with an embodiment of the invention. Each opportunity type contains a different set of questions such that the questions in each opportunity type address the typical buyer&#39;s requirements for that opportunity type. The GUI shown in FIG. 3 displays a Relevance Ratio question set for the Platform Technology Opportunity type. The GUI contains the Relevance Ratio questions  310 , the seller responses  320  to each question  310 , and the seller&#39;s comments  330  for each question  310 .  
         [0051]    [0051]FIG. 4 illustrates an opportunity type data structure in accordance with an embodiment of the invention. For each opportunity  214 , Opportunity Database  62  (FIGS. 1 and 2) contains characteristic entries  400  which store the opportunity characteristics. Database  62  also contains entries  436  for each opportunity  214  which contain the seller&#39;s responses to each question in the Relevance Ratio question set  212  for that opportunity type.  
         [0052]    [0052]FIG. 5 illustrates a data structure for storing buyer information in accordance with an embodiment of the invention. Buyer database  64  contains information about users who search for life sciences opportunities in opportunity database  62  (FIG. 1). For each buyer  510 , buyer database  64  includes the buyer&#39;s personal Profile  512  and the buyer&#39;s Priorities  514 . The buyer&#39;s personal profile contains general information about the buyer and the buyer contact information. Buyer priorities  514  contain the buyer&#39;s responses to the Relevance Ratio question set for each opportunity type  210  (FIG. 2) in Opportunity Database  60  (FIG. 1). Preferably, the buyer&#39;s responses are selected from “Yes” or “No.”  
         [0053]    Buyer Database  64  further includes the buyer&#39;s Opportunity Filters  516  and the buyer&#39;s Favorite Opportunities List  522 . Opportunity filters  516  store one or more filters  520  containing the buyer&#39;s search criteria for each opportunity type. Thus, a buyer need not enter the search criteria each time the buyer searches for opportunities matching a particular saved search criteria.  
         [0054]    Favorite Opportunities List  522  contains opportunities  524  that a buyer has saved after conducting a search. The buyer can subsequently view opportunities  524  without conducting a new search by viewing the saved favorite opportunities without conducting a search. In an alternative embodiment, the buyer&#39;s Priorities (as explained in relation to FIG. 7), Opportunity Filters, and Favorite Opportunities List are stored on client  22 .  
         [0055]    [0055]FIG. 6 illustrates a data structure for storing a buyer&#39;s preferences in accordance with an embodiment of the invention. Priorities  514  contain the buyer&#39;s preferences for each opportunity type  210  (FIG. 2) in Opportunity Database  62  (FIG. 2). The buyer indicates these preferences by providing responses  660  to the Relevance Ratio question set  212  (FIG. 2) for each opportunity type.  
         [0056]    In one embodiment, the buyer further provides a weight for each question in the Relevance Ratio question set. In this embodiment, the buyer for example provides a number that indicates the relevance of the particular question to the buyer. Illustratively, in the Platform Technology Relevance Ratio question set shown in FIG. 3, a buyer provides a number between one and ten to indicate the relevance of each question to the buyer. A buyer who wants a technology that is scalable may select the number ten for the first question to indicate the importance of scalability to the buyer. The same buyer will select, for example the number five for the second question, if automation of the technology is not as important to the buyer. The system then generates a weighted first sum and a weighted second sum for a matched opportunity.  
         [0057]    In the preferred embodiment, the application server provides default responses to the Relevance Ratio question set. In this embodiment, the buyer can subsequently modify the default responses.  
         [0058]    [0058]FIG. 7 illustrates a GUI used for performing various tasks in accordance with an embodiment of the invention. A seller posts an opportunity by selecting an opportunity type by clicking on a button  720  from the “Post a Listing” menu  710 , e.g., a seller can post a platform technology opportunity by clicking on button  730 .  
         [0059]    A buyer uses GUI  700  to search for opportunities in Opportunity Database  62  (FIG. 1). A buyer can search for opportunities in a particular opportunity type by clicking on the corresponding button in “Search for Listings” menu  780 . For example, a buyer can search for opportunities in platform technology by clicking on the “Platform Technology” button  740 . Alternatively, a buyer can search all opportunities stored in Opportunity Database  62  (FIG. 1) by clicking on the “All Opportunities” button  750 .  
         [0060]    Posting a Life Sciences Opportunity  
         [0061]    [0061]FIG. 8 illustrates a GUI used for posting opportunities in accordance with an embodiment of the invention. For example, the seller provides information about the platform technology opportunity by completing the standardized list of characteristic entries in the “Post a Platform Technology Opportunity” web page. The seller provides the product name or identification number in field  810 . The seller further selects geographical territories in which the seller is seeking a partner for the opportunity by toggling check boxes  830  corresponding to the appropriate geographical territory  820 . In the preferred embodiment, the available geographical territories include the United States, All Europe, Part of Europe, Canada, Japan, and Other. Additionally, the seller provides the general categorical term, e.g., microarray or drug delivery, that describes the technology in field  840 , licensees in field  850  and product application in field  860 .  
         [0062]    The seller further provides the intellectual property status of the opportunity. The intellectual property status of an opportunity includes information relating to the opportunity&#39;s patent status. For example, the seller can indicate whether the opportunity is patented, and, if so, the status of the patent, i.e. whether the patent is in force, abandoned, or expired. The seller can also indicate whether a patent has been filed for the opportunity. In the preferred embodiment, the seller provides the status of the opportunity in the United States Patent and Trademark Office (USPTO)  870 , in the European Patent Office (EPO)  880 , and in the Japanese Patent Office (JPO)  890  by selecting the appropriate status  910  (See FIG. 9) from the drop down menu  900  for the PTO, EPO, and JPO fields.  
         [0063]    [0063]FIG. 10 illustrates a GUI for uploading information packets for an opportunity in accordance with an embodiment of the invention. The information packet provides additional information about the posted opportunity and optionally includes confidential information, such as a non-disclosure agreement, and non-confidential information. The non-confidential information can be an executive summary, a technology overview, additional data or studies conducted. The seller completes fields  1010 , provides a brief description of the document in field  1020 , and may scan in a document described in field  1020 . The seller may upload additional documents by clicking on the “Add More Files” button  1040 . Once the files are uploaded, the information packet is saved by clicking on “Save Packet” button  1030 .  
         [0064]    This brief description of one aspect of the invention will be more clearly understood by reference to FIGS. 11A and 11B which illustrate the processing steps performed when posting an opportunity in accordance with an embodiment of the invention.  
         [0065]    A seller posts an opportunity by selecting (Step  1110 ) an opportunity type, for example by clicking on a button  720  (FIG. 7) from “Post a Listing” menu  710 . When a seller clicks on an opportunity type button  720 , browser  34  (FIG. 1) transmits (Step  1112 ) a request for the corresponding post an opportunity web page to web server  56 .  
         [0066]    Web server  56  (FIG. 1) receives (Step  1114 ) the web page request from browser  34  and subsequently retrieves (Step  1116 ) the requested web page from web page database  58  (FIG. 1). Web server  56  then transmits (Step  1118 ) the requested web page to browser  34  (FIG. 1) via network  26 . Browser  34  displays (Step  1120 ) the requested web page on input/output device  38 . The seller provides the opportunity characteristics by completing (Step  1122 ) the entries in the post an opportunity web page.  
         [0067]    Illustratively, a seller can post (Step  1110 ) a Platform Technology opportunity by selecting “Platform Technology”  730  (FIG. 7) from the “Post a Listing” menu  710  (FIG. 7). Browser  34  (FIG. 1) transmits (Step  1112 ) a request for the “Post a Platform Technology Opportunity” web page to web server  56  (FIG. 1). Web server  56  (FIG. 1) receives (Step  1114 ) the request for “Post a Platform Technology Opportunity” web page and retrieves (Step  1116 ) the requested web page. Web server  56  (FIG. 1) then transmits the requested web page to browser  34  (Step  1118 ), which then displays (Step  1120 ) the web page on input/output device  38 .  
         [0068]    After completing the entries in the post an opportunity web page  800  (FIG. 8), the seller continues to the Relevance Ratio question set by clicking on the “Continue to Relevance Ratio Questions” button  804  (FIG. 8). The seller also has the option of saving the entered information and returning to it at a later time by clicking on the “Save Work in Progress” button  808 . A seller can preferably save the entered information at any time during the data entry process.  
         [0069]    When the seller clicks on the “Continue to Relevance Ratio Questions” button  804  (FIG. 8), browser  34  (FIG. 1) transmits (Step  1122 ) the completed post an opportunity web page to web server  56  (FIG. 1). Web server  56  receives (Step  1124 ) the completed web page and extracts (Step  1126 ) the entered data from the completed web page. Web server  56  (FIG. 1) extracts the entered data using one of the many well known techniques in the art for extracting entered information from a web page. Web server  56  then transmits (Step  1128 ) the extracted data to application server  52  (FIG. 1).  
         [0070]    Application server  52  (FIG. 1) receives (Step  1130 ) the opportunity data from web server  56  (FIG. 1) and creates (Step  1132 ) an entry  214  (FIG. 2) in opportunity database  62  (FIG. 1) under the selected opportunity type. For example, for a seller posting a Platform Technology opportunity, application server  52  (FIG. 1) creates an entry  214 - 1 -X (FIG. 2) in the Platform Technology opportunity database  210 - 1  (FIG. 2).  
         [0071]    Server  56  (FIG. 1) further retrieves (Step  1134 ) the Relevance Ratio web page for the selected opportunity type from web page database  58  (FIG. 1) and transmits (Step  1136 ) the Relevance Ratio web page to browser  34  (FIG. 1) via network  26 . Browser  34  (FIG. 1) subsequently displays (Step  1138 ) the Relevance Ratio web page on input/output device  38  (FIG. 1).  
         [0072]    After providing responses to the Relevance Ratio question set (FIG. 9B, Step  1140 ), the seller uploads additional information about the opportunity by clicking on the “Continue to Non-Confidential Packet” button  340  on web page  300  (FIG. 3). When the seller clicks on the “Continue to Non-Confidential Packet” button, browser  34  (FIG. 1) transmits the completed Relevance Ratio web page to web server  56  (Step  1140 ) (FIG. 1).  
         [0073]    Web server  56  (FIG. 1) receives (Step  1142 ) the completed Relevance Ratio web page, extracts (Step  1144 ) the seller&#39;s responses to the Relevance Ratio question set from the Relevance Ratio web page, and transmits (Step  1146 ) the extracted responses to application server  52  (FIG. 1). Application server  52  receives (Step  1148 ) the seller&#39;s responses to the Relevance Ratio question set and creates (Step  1150 ) entries  436  (FIG. 4) which store the seller&#39;s responses to the Relevance Ratio question set for the posted opportunity.  
         [0074]    Web server  56  (FIG. 1) further retrieves (Step  1152 ) the “Non-Confidential Packet” web page and transmits (Step  1154 ) the retrieved web page to browser  34  (FIG. 1) which then displays (Step  1156 ) the web page on input/output device  38  (FIG. 1).  
         [0075]    After the seller has uploaded all additional documents, the seller saves the additional information packet by clicking on the “Save Packet” button  1030  (FIG. 10). The additional information packet contains additional data, such as for example financial information or test results, that the seller provides when posting an opportunity on system  20 . In one embodiment, the additional information is numerical data, images, text, or a combination of text, images, and numerical data. Browser  34  (FIG. 1) transmits (Step  1158 ) the completed “Non-Confidential Packet” web page to web server  56  (FIG. 1). Web server  56  receives (Step  1160 ) the completed “Non-Confidential Packet” web page, extracts (Step  1162 ) the additional data from the received web page, and transmits (Step  1164 ) the extracted data to application server  52  (FIG. 1).  
         [0076]    Application server  52  receives (Step  1166 ) the uploaded information and creates (Step  1168 ) entries  432  (FIG. 4) which store the uploaded information for the posted opportunity. In the preferred embodiment, the information provided by a seller is reviewed and audited by a life sciences opportunity service provider. The life sciences opportunity service provider further reviews the data to ensure that the data conforms to a standardized format before the opportunity is posted in the opportunity database.  
         [0077]    [0077]FIG. 12 illustrates a GUI posting a company&#39;s opportunities in accordance with an embodiment of the invention. Once the seller has posted an opportunity, the seller may edit, review, or suspend the posted opportunity by clicking on the corresponding button  1240  on the “My Company Opportunities” web page  1200 . A seller views its opportunities by clicking on “My Company Opportunities” button  770  (FIG. 7).  
         [0078]    The “My Company Opportunities” web page  1200  displays all seller opportunities that are currently posted, all seller opportunities that are suspended, and all seller opportunities that are being prepared for posting. When the seller suspends an opportunity, the application server does not transmit information about that opportunity to potential buyers. Thus, a buyer cannot view the suspended opportunity. In the preferred embodiment, the editing or suspension of an opportunity requires that a user provide identifying information before the user can edit or suspend a posted opportunity. Preferably, an opportunity service provider reviews and audits the edited opportunity prior to posting the edited opportunity in the opportunity database.  
         [0079]    In the embodiment shown, the seller opportunities are listed by opportunity type. For each seller opportunity, the web page provides the status of the opportunity  1210 , the number of viewers who have visited the opportunity  1220 , and the number of times the opportunity has been viewed  1230 .  
         [0080]    Searching for Opportunities  
         [0081]    [0081]FIG. 13 illustrates a GUI for entering a buyer&#39;s search criteria in accordance with an embodiment of the invention. The buyer enters a search criteria for an opportunity by completing one or more fields  1310 . A buyer further narrows or expands a search by providing specific keywords or phrases in fields  1320 . The buyer searches for opportunities that contain all keywords or phrases entered in search fields  1320  by toggling the “All” button  1330 . Alternatively, the buyer searches for opportunities that contain any of the keywords or phrases in search fields  1320  by toggling the “Any” button  1340 .  
         [0082]    Illustratively, a buyer specifies “angiogenesis” in search field  1322  and “anti-B-cell radioimmunotherapy” in search field  1324 . The buyer then searches for all opportunities that contain either “angiogenesis” or “anti-B-cell radioimmunotherapy” by clicking on button  1340 . Or, the buyer can search for all opportunities that contain both “angiogenesis” and “anti-B-cell radioimmunotherapy” by clicking on button  1330 .  
         [0083]    [0083]FIGS. 14A and 14B illustrate the processing steps performed when searching for opportunities in accordance with an embodiment of the invention. A buyer searches for available opportunities by clicking on a button  780  (FIG. 7) in the “Search for Listings” menu  760  (FIG. 7). When the buyer clicks (Step  1410 ) on a button  780  (FIG. 7), browser  34  (FIG. 1) transmits (Step  1412 ) a request for the corresponding web page to web server  56  (FIG. 1). Upon receiving (Step  1414 ) the request from browser  34 , web server  56  retrieves (Step  1416 ) the requested web page from web page database  58  (FIG. 1). Web server  56  transmits (Step  1418 ) the requested web page to browser  34  via network  26 . Browser  34  then displays (Step  1420 ) the requested web page on input/output device  38  (FIG. 1). The buyer provides (Step  1422 ) the search criteria by completing one or more fields  1310  and  1320  (FIG. 13).  
         [0084]    After the buyer has provided the search criteria, the buyer submits the search by clicking on the “SEARCH” button  1350  (FIG. 13). Browser  34  (FIG. 1) transmits (Step  1424 ) the completed search criteria web page to web server  56  (FIG. 1). Web server  56  receives (Step  1426 ) the buyer&#39;s completed search criteria web page, extracts (FIG. 14B, Step  1428 ) the search criteria from the completed web page, and transmits (Step  1430 ) the extracted search criteria to application server  52  (FIG. 1).  
         [0085]    Application server  52  receives (Step  1432 ) the buyer&#39;s search criteria and invokes (Step  1434 ) iterative search engine  54  (FIG. 1). Iterative search engine  54  locates (Step  1436 ) all opportunities that match the buyer&#39;s search criteria and generates (Step  1436 ) a relevance ratio for the matched opportunity. The processing steps performed by iterative search engine  54  are described in greater detail below.  
         [0086]    Application server  52  (FIG. 1) transmits (Step  1438 ) the matched opportunity data including the relevance ratio to web server  56  (FIG. 1). Web server  56  receives (Step  1440 ) the opportunity data and relevance ratio for the matched opportunity and transmits (Step  1442 ) the received data to browser  34  (FIG. 1) via network  26 . Browser  34  subsequently displays (Step  1444 ) the result on input/output device  38  (FIG. 1). An exemplary search results web page is shown in FIG. 17.  
         [0087]    In other embodiments, the iterative search engine stores the matched opportunity data in a temporary memory until the search engine has found all opportunities that match the buyer&#39;s criteria. In this embodiment, the iterative search engine transmits all opportunities matching the buyer&#39;s criteria after the search engine has found all opportunities that match the buyer&#39;s search criteria.  
         [0088]    [0088]FIG. 15 illustrates the processing steps performed by iterative search  54  when searching for opportunities in accordance with an embodiment of the invention. Iterative search engine  54  (FIG. 1) finds all opportunities matching the buyer&#39;s search criteria by comparing (Step  1520 ) the buyer&#39;s entries in search criteria fields  1310  (FIG. 13) with the seller&#39;s responses in corresponding entries  480  (FIG. 4) in opportunity  212  (FIG. 1) for the selected opportunity type.  
         [0089]    For example, if the buyer provided a search term in the “Technology Field” search field  1312  (FIG. 13), the iterative search engine will compare the entry in search field  1312  (FIG. 13) with entry  410  (FIG. 4) for opportunity  212  (FIG. 2) listed in Platform Technology Opportunity database  210  (FIG. 2). If no entry in platform technology search fields  1310  (FIG. 13) matches (Step  1520 -No) the corresponding entry in opportunity  212 , iterative search engine  54  (FIG. 1) then searches (Step  1550 ) the next opportunity in Platform Technology Opportunity database  210 - 1  (FIG. 2).  
         [0090]    If each entry in platform technology search fields  1310  (FIG. 13) matches (Step  1520 -Yes) the corresponding entry in opportunity  212 , iterative search engine  54  next compares the entries in keywords or phrase search fields  1320  (FIG. 13) with characteristic entries  400  (FIG. 4) for the opportunity. If the buyer is seeking opportunities that contain (Step  1530 -Yes) all keywords or phrases entered in keywords or phrase search fields  1320  (FIG. 13) and if a keyword or phrase in search fields  1320  (FIG. 13) does not match (Step  1560 -No) an entry in characteristic entries  400 , the iterative search engine then searches (Step  1550 ) the next opportunity in Opportunity database  60  (FIG. 1).  
         [0091]    If all keywords or phrases entered in keyword search fields  1320  match (Step  1560 -Yes) an entry in characteristic entries  400  (FIG. 4), iterative search engine  54  (FIG. 1) next generates (Step  1570 ) a relevance ratio for that opportunity. The processing steps for generating the relevance ratio are described in greater detail below. Iterative search engine  54  (FIG. 1) then transmits (Step  1580 ) data for the matched opportunity, including the relevance ratio, to application server  52  (FIG. 1). Iterative search engine  54  (FIG. 1) then searches (Step  1550 ) the next opportunity in Opportunity database  60  (FIG. 2).  
         [0092]    Returning to Step  1530 , if the buyer wants (Step  1530 -No) opportunities that contain any of the keywords or phrases entered in keyword or phrase search fields  1320  (FIG. 13) and if none of the keywords or phrases entered in search fields  1320  (FIG. 13) matches (Step  1540 -No) an entry in characteristic entries  400  (FIG. 4), iterative search engine  54  (FIG. 1) then searches (Step  1550 ) the next opportunity  212  (FIG. 2) in Opportunity database  60  (FIG. 1).  
         [0093]    If at least one of the keywords or phrases entered in search fields  1320  (FIG. 13) matches (Step  1540 -Yes) an entry in characteristic entries  400  (FIG. 4), iterative search engine  54  (FIG. 1) then generates (Step  1570 ) a relevance ratio for that opportunity. The processing steps for generating a relevance ratio are discussed in greater detail below. Iterative search engine  54  (FIG. 1) then transmits (Step  1580 ) the data for the matched opportunity, including the relevance ratio, to application server  52  (FIG. 1). Iterative search engine  54  (FIG. 1) then searches (Step  1550 ) the next opportunity  212  (FIG. 1) in Opportunity database  60  (FIG. 1).  
         [0094]    Generating a Relevance Ratio  
         [0095]    [0095]FIG. 16 illustrates the processing steps performed in generating a relevance ratio in accordance with an embodiment of the invention. Application server  52  (FIG. 1) generates a relevance ratio for each opportunity that matches the buyer&#39;s search criteria. To generate the relevance ratio, server  52  (FIG. 1) compares the buyer&#39;s responses  660  (FIG. 6) to the Relevance Ratio question set  212  (FIG. 2) against the seller&#39;s responses  436  (FIG. 4) to the Relevance Ratio question set  212  (FIG. 2). FIG. 3 illustrates a Relevance Ratio question set for the platform technology life sciences opportunity type.  
         [0096]    Server  52  sets (Step  1600 ) the initial values for the First Sum, the Second Sum, and the Question parameters. In the preferred embodiment, the values for First Sum, Second Sum, and Question are set to zero, zero, and one, respectively. The First Sum is equal to the number of all questions that both the buyer and the seller consider as relevant to the opportunity and to which both the buyer and the seller provide a “Yes” response. The Second Sum is equal to the number of all questions to which the buyer provided a first response and which the seller considered as relevant to the opportunity. The Question represents the question number in the sequence of technical questions in the Relevance Ratio question set for an opportunity type.  
         [0097]    First, server  52  (FIG. 1) determines (Step  1610 ) if a question is relevant to the buyer. In the preferred embodiment, the question is relevant to the buyer if the buyer&#39;s response to the question is “Yes.” If the question is not relevant to the buyer (Step  1610 -No), server  52  (FIG. 1) next determines (Step  1660 ) if the question is the last question in the Relevance Ratio question set. If the question is not (Step  1660 -No) the last question in the Relevance Ratio question set, server  52  (FIG. 1) proceeds (Step  1680 ) to the next question in the Relevance Ratio question set and repeats Steps  1610  through  1650  until it reaches the last question in the relevance ratio question set for the opportunity type.  
         [0098]    If the question is relevant (Step  1610 -Yes) to the buyer, server  52  (FIG. 1) determines (Step  1620 ) if the seller considers the question relevant to the posted opportunity. Preferably, a seller considers a question relevant to the posted opportunity if the seller&#39;s response to the question is either “Yes” or “No”.  
         [0099]    If the seller considers (Step  1620 -Yes) the question relevant to the posted opportunity and the seller&#39;s response to the question is “Yes” (Step  1630 -Yes), server  52  (FIG. 1) increases (Step  1640 ) First Sum by one and server  52  (FIG. 1) increases (Step  1650 ) Second Sum by one. Server  52  (FIG. 1) next determines (Step  1660 ) if the question is the last question in the Relevance Ratio question set. If the question is not (Step  1660 -No) the last question in the Relevance Ratio question set, server  52  (FIG. 1) proceeds (Step  1680 ) to the next question in the Relevance Ratio question set and repeats Steps  1610  through  1650  until it reaches the last question in the relevance ratio question set for the opportunity type.  
         [0100]    Going back to Step  1630 , if the seller&#39;s response to the question is not “Yes” (Step  1630 -No), then server  52  (FIG. 1) increases only the Second Sum by one (Step  1650 ) and does not increase the First Sum. Server  52  (FIG. 1) next determines (Step  1660 ) if the question is the last question in the Relevance Ratio question set. If the question is not (Step  1660 -No) the last question in the Relevance Ratio question set, server  52  (FIG. 1) proceeds (Step  1680 ) to the next question in the Relevance Ratio question set and repeats Steps  1610  through  1650  until it reaches the last question in the Relevance Ratio question set for the opportunity type.  
         [0101]    Returning to Step  1620 , if the seller does not consider (Step  1620 -No) the question relevant to the opportunity, then server  52  (FIG. 1) determines (Step  1660 ) if the question is the last question in the Relevance Ratio question set. If the question is not (Step  1660 -No) the last question in the Relevance Ratio question set, server  52  (FIG. 1) proceeds (Step  1680 ) to the next question in the Relevance Ratio question set and repeats Steps  1610  through  1650  until it reaches the last question in the relevance ratio question set for the opportunity type.  
         [0102]    If the question is (Step  1660 -Yes) the last question in the Relevance Ratio question set, then server  52  (FIG. 1) generates (Step  1670 ) a result for the opportunity. In the preferred embodiment, server  52  generates the result as a ratio, the numerator of the ratio being the First Sum and the denominator of the ratio being the Second Sum. (See column  2010 , FIG. 20).  
         [0103]    In other embodiments, the result is displayed in other formats, e.g., First Sum—Second Sum or as the numerical value of the above mentioned ratio. For example if the First Sum for an opportunity is 10 and the Second Sum for the opportunity is 14 then the value of the opportunity can be presented as 10/14, or as 10-14, or as 0.7143. In one embodiment, server  52  uses the relevance ratio to prioritizes the matched opportunities.  
         [0104]    [0104]FIG. 17 illustrates a results GUI in accordance with an embodiment of the invention. The search results web page displays the relevance ratio  1710  for each opportunity that matches the buyer&#39;s search criteria. In addition, for each matching opportunity, web page  1700  displays an opportunity code  1720  assigned by a life science opportunity service provider, a product name or identification number  1730 , and the listing seller&#39;s name  1740 . A buyer views additional details about a matched opportunity by clicking on the opportunity code  1720  for the matching opportunity.  
         [0105]    [0105]FIG. 18 illustrates a GUI containing a detailed description of an opportunity matching the buyer&#39;s search criteria in accordance with an embodiment of the invention. The buyer can view the seller&#39;s responses to the Relevance Ratio question set by clicking on the “Relevance Ratio Score Card” button  1810  on web page  1800 .  
         [0106]    [0106]FIG. 19 illustrates a GUI containing the buyer&#39;s responses, the seller&#39;s responses, and the company&#39;s responses to the Relevance Ratio question set in accordance with an embodiment of the invention. GUI  1900  displays the seller&#39;s responses  1910  to the Relevance Ratio question set. GUI  1900  also displays the seller&#39;s comments to each question  1920 , the buyer&#39;s preferences for each question  1930 , and the buyer master user&#39;s responses  1940  to the Relevance Ratio question set.  
         [0107]    Editing Priorities  
         [0108]    [0108]FIG. 20 illustrates a GUI used to edit a buyer&#39;s priorities in accordance with an embodiment of the invention. The buyer&#39;s priorities indicate the buyer&#39;s preferences for an opportunity type. The “Edit Platform Technology Priorities” GUI  2000  contains the buyer&#39;s preferences  2010  for the opportunity type. The buyer edits responses  2010  to questions  2020  in the “Edit a Platform Technology Priorities” web page. In one embodiment, only the buyer master user may edit the buyer company&#39;s preferences for an opportunity type.  
         [0109]    [0109]FIG. 21 illustrates a personal profile GUI in accordance with an embodiment of the invention. A buyer edits the priorities for an opportunity type by clicking on the corresponding edit button  2110  for an opportunity type from the personal profile web page. For example, a buyer can edit priorities for Platform Technology opportunity type by clicking on button  2120  in “My Personal Profile” web page  2100 .  
         [0110]    [0110]FIGS. 22A and 22B illustrate the processing steps performed when editing a buyer&#39;s priorities in accordance with an embodiment of the invention. A buyer edits the priorities for an opportunity type by clicking (Step  2210 ) on the corresponding edit button  2110  (FIG. 21) for an opportunity type from the personal profile web page. When the buyer clicks on button  2110  (FIG. 21), browser  34  (FIG. 1) transmits (Step  2212 ) a request for the corresponding edit priorities web page to web server  56  (FIG. 1). Web server  56  (FIG. 1) receives (Step  2214 ) the request for the edit priorities web page and retrieves (Step  2216 ) the corresponding web page from web page database  58  (FIG. 1). Web server  54  (FIG. 1) then transmits (Step  2218 ) the requested web page to browser  34  (FIG. 1) via network  26 . Browser  34  (FIG. 1) displays (Step  2220 ) the edit priorities web page on input/output device  38  (FIG. 1).  
         [0111]    Once the buyer has made (Step  2222 ) the desired changes to preferences  2010  (FIG. 20), the buyer submits the changes by clicking on the “SUBMIT” button  2030  (FIG. 20). Browser  34  (FIG. 1) transmits (FIG. 22B, Step  2224 ) the buyer&#39;s edited responses to web server  56  (FIG. 1). Web server  56  (FIG. 1) receives (Step  2226 ) the completed edit priorities web page, extracts (Step  2228 ) the buyer&#39;s responses from the edit priorities web page, and transmits (Step  2230 ) the buyer&#39;s edited responses to application server  52  (FIG. 1). Application server  52  (FIG. 1) receives (Step  2232 ) the buyer&#39;s edited priorities from web server  56  (FIG. 1) and replaces (Step  2234 ) the buyer&#39;s responses  660  (FIG. 6) to the Relevance Ratio question set with the edited responses to the Relevance Ratio question set.  
         [0112]    Creating Opportunity Filters  
         [0113]    [0113]FIG. 23 illustrates a GUI containing the buyer&#39;s opportunity filters for each opportunity type in accordance with an embodiment of the invention. GUI  2300  displays a list of the buyer&#39;s opportunity filters for each opportunity type. The buyer adds a new filter to an opportunity type by clicking on the “Add new filter” button  2310  for the corresponding opportunity type. The buyer can conduct a search using a previously stored search filter criteria by clicking on the “EXECUTE” button  2320  on GUI  2300 . Thus, a buyer need not provide the search criteria each time the buyer wants to search for opportunities that match the saved search criteria. The buyer can edit the saved search criteria at any time by clicking on “Edit” button  2330 .  
         [0114]    [0114]FIG. 24 illustrates a GUI for entering a buyer&#39;s search criteria for creating an opportunity filter in accordance with an embodiment of the invention. The buyer provides a name for the filter in field  2410 . The buyer further provides one or more search criteria for the filter by completing fields  2420 . After the buyer has entered the search criteria for the filter, the buyer saves the filter by clicking on the “SAVE FILTER” button  2430 .  
         [0115]    [0115]FIGS. 25A and 25B illustrate the processing steps performed when creating an opportunity filter in accordance with an embodiment of the invention. A buyer creates (Step  2510 ) an opportunity filter by clicking on the “My Opportunity Filters” button  770  (FIG. 7) on web page  700  (FIG. 7). When the buyer clicks on button  770  (FIG. 7), browser  34  (FIG. 1) transmits (Step  2512 ) a request for the “My Opportunity Filters” web page to web server  56  (FIG. 1).  
         [0116]    Web server  56  (FIG. 1) receives (Step  2514 ) the request for the opportunity filters web page and retrieves (Step  2516 ) the requested web page from web page database  58  (FIG. 1). Web server  56  (FIG. 1) then transmits (Step  2518 ) the retrieved web page to browser  34  (FIG. 1) which subsequently displays (Step  2520 ) the web page on input/output device  38  (FIG. 1).  
         [0117]    Illustratively, a buyer can create (Step  2510 ) an opportunity filter for platform technology opportunities by clicking on button  780  (FIG. 7) on web page  700  (FIG. 7). Browser  34  (FIG. 1) transmits (Step  2512 ) the request for the “My Opportunity Filters” web page to web server  56  (FIG. 1). Web server  56  (FIG. 1) receives (Step  2514 ) the request for the “My Opportunity Filters” web page from browser  34  (FIG. 1) and retrieves (Step  2516 ) the corresponding web page from web page database  58  (FIG. 1). Web server  56  (FIG. 1) then transmits (Step  2518 ) the requested web page to browser  34  (FIG. 1) which subsequently displays (Step  2520 ) the web page on input/output device  38  (FIG. 1).  
         [0118]    The buyer then adds (Step  2522 ) a new filter to an opportunity type by clicking on the “Add new filter” button  2310  (FIG. 23) for the corresponding opportunity type. When the buyer clicks on the “Add new filter” button, browser  34  (FIG. 1) transmits (Step  2524 ) the request for the corresponding filter criteria web page to server  56  (FIG. 1). Server  56  (FIG. 1) receives (Step  2526 ) the request and retrieves (Step  2528 ) the requested web page from web page database  58  (FIG. 1). Web server  56  (FIG. 1) then transmits (FIG. 25B, Step  2530 ) the retrieved web page to browser  34  (FIG. 1). Browser  34  (FIG. 1) then displays (Step  2532 ) the opportunity filter criteria web page on input/output device  38  (FIG. 1).  
         [0119]    The buyer provides a name for the filter in field  2410  (FIG. 24). The buyer further provides one or more search criteria for the filter by completing (Step  2534 ) fields  2420  (FIG. 24). After the buyer has entered the search criteria for the filter, the buyer saves (Step  2536 ) the filter by clicking on the “SAVE FILTER” button  2430  (FIG. 24). In the preferred embodiment, the buyer further has the option of receiving e-mail alerts when an opportunity matching the buyer&#39;s filter criteria is posted on system  20 .  
         [0120]    When the buyer clicks on the “SAVE FILTER” button, browser  34  (FIG. 1) transmits (Step  2538 ) the completed search criteria filter web page  2400  (FIG. 24) to web server  56  (FIG. 1). Web server  56  (FIG. 1) receives (Step  2540 ) the completed search criteria filter web page, extracts (Step  2542 ) the filter name and search criteria from the completed web page and transmits (Step  2544 ) the extracted information to application server  52  (FIG. 1). Application server  52  (FIG. 1) receives (Step  2546 ) the filter data and creates (Step  2548 ) an entry  520  (FIG. 5) for buyer  512  (FIG. 5) in buyer database  64  (FIG. 1).  
         [0121]    The present invention can be implemented as a computer program product that includes a computer program mechanism embedded in a computer readable storage medium. For instance, the computer program product could contain the program modules shown in FIG. 1. These program modules may be stored on a CD-ROM, magnetic disk storage product, or any other computer readable data or program storage product. The software modules in the computer program product may also be distributed electronically, via the Internet or otherwise, by transmission of a computer data signal (in which the software modules are embedded) on a carrier wave.  
         [0122]    While the present invention has been described with reference to a few specific embodiments, the description is illustrative of the invention and is not to be construed as limiting the invention. Various modifications may occur to those skilled in the art without departing from the true spirit and scope of the invention as defined by the appended claims.