Temporary PTO Funding critical for biotech innovation.

Press Release Summary:



According to statement made by BIO, continued innovation in U.S. biotechnology industry is dependent on strong U.S. Patent and Trademark Office. Furloughs or other measures that result in reduction of patent examiners will have negative impact on ability of PTO to examine critical biotech patent applications in timely manner. This could slow innovation, stifling biotech innovation, threatening U.S. competitiveness, and jeopardizing high-wage, high-quality U.S. jobs.



Original Press Release:



Temporary PTO Funding Option is Critical For Biotech Innovation and Jobs



Contact Jeff Joseph

202-962-9230

WASHINGTON, D.C. (Wednesday, July 08, 2009) - The following statement was issued today by the Biotechnology Industry Organization regarding a proposal to provide a temporary funding option for the U.S. Patent and Trademark Office (PTO) to avoid the furlough of patent office employees or other staff reduction measures:

"Continued innovation in the U.S. biotechnology industry is dependent on a strong and well-functioning U.S. PTO. Furloughs or other measures that result in a reduction of patent examiners will have a negative impact on the ability of the PTO to examine critical biotech patent applications in a timely manner. This could slow innovation in our sector, stifling biotech innovation, threatening U.S. competitiveness and jeopardizing the more than 7.5 million high-wage, high-quality U.S. jobs provided by the biotech industry.

"We applaud House Judiciary Committee Chairman John Conyers (D-MI) and Ranking Member Lamar Smith (R-TX) for their quick action to address this matter. We urge the Senate to act quickly on this important issue."

About BIO

BIO represents more than 1,200 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world.

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