Reno, NV (PRWEB) April 03, 2014
IpAuctions, Inc. has been selected by the Chapter 7 Trustee of the Bankruptcy Estate of Newport Beach-based Millennium Medical Spa, LLC, Case No. 8:13-bk-10341-MW pending in the United States Bankruptcy Court, Central District of California, to liquidate by auction certain assets of the Estate, including the Estate's interest in certain intellectual property, as follows:
1. US Patent #7,605,122, which, according to the patent, is the only patented, medical-grade, oral formulation of Human Chorionic Gonadotropin ("hCG"), which is claimed to facilitate weight loss and body contouring.
2. US Trademark #3440303, the standard character mark “Releana”. The patented product was heavily marketed by Millennium under the name Releana as a weight loss facilitator.
3. US Trademark #3424408, consisting of the design and words “Releana Innovations in Weight Loss”.
The use of hCG for weight loss goes back to the 1950s. Prior to the development of the patented product, medically-prescribed hCG was only available in an inconvenient and uncomfortable injection form. The patented product was the first -- the original -- oral drop formulation of hCG, which made the product much easier to administer. The popularity of hCG has led not only to the introduction of "knock-off" medical grade oral formulations, but has also resulted in the flooding of the market with "homeopathic" or "non-prescription" hCG products, which are of questionable effectiveness (with many such formulations containing no hCG at all). The patented product remains the original oral drop formulation of medical grade hCG, with a familiar name (“Releana”) and a strong customer base.
Included in the sale are certain books and records of Millennium turned over to the Trustee. Those records contain information concerning Millennium's customers, manufacturers and suppliers, along with any interest the Estate may have in the Domain Name "releana.com", which is currently registered under a name other than Millennium.
This is a bankruptcy sale, and it is critical that all interested bidders engage in due diligence. This may be performed at Lot#1232 or online at IpAuctions.com. The site includes a listing of all assets included in the “Single Lot Sale”, and direct links to the US Patent and Trademark Office. Registration to bid is accessible on site or here. Auction dates are April 22 thru 24, 2014, bidding opens at 12:01 PDT.
IpAuctions™ Inc. is the leading online auction firm specializing in the worldwide sale of intellectual property assets. The 13 year old firm has a proprietary international database of over 10,000 IP attorneys, corporate buyers, and venture capitalists. The Company is a member of the National Auctioneers Association and the American Bankruptcy Institute. For more information about this sale or other intellectual property sales, please contact Davel Foote, IpAuctions™ at 866-826-1300 or online: dfoote(at)ipauctions(dot)com.