BIO says Kyle Bass continues abuse of patent challenge system.
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Press Release Summary:
According to statement by BIO President and CEO Jim Greenwood, billionaire hedge fund manager Kyle Bass continues to attack biotechnology companies with endless Inter Parte Review challenges to legitimate patents. Four new IPR filings against Acorda Therapeutics are particularly egregious, coming on the heels of Bass’ prior failed attempt to attack 2 of those same patents covering multiple sclerosis drug Ampyra. BIO again calls on PTO and Congress to quickly take action to stop this abuse.
Original Press Release:
BIO Statement: Kyle Bass Continues Abuse of Patent Challenge System
Billionaire Hedge Fund Manager Loses Challenges – Immediately Files Second Challenge on Same Patents
WASHINGTON --The Biotechnology Industry Organization (BIO) today released the following statement regarding the recent IPR challenges filed by hedge fund manager Kyle Bass.
“BIO again calls on the Patent and Trademark Office (PTO) and Congress to quickly take action to stop this abuse, which is threatening to undermine the medical innovation system in this country.”
The following statement may be attributed to BIO President and CEO Jim Greenwood:
“Billionaire hedge fund manager Kyle Bass continues to attack biotechnology companies with endless series of Inter Parte Review (IPR) challenges to legitimate patents. Bass has filed more than a dozen such IPR challenges in August alone. The most recent examples – four new IPR filings yesterday against Acorda Therapeutics – are particularly egregious, coming on the heels of Bass’ prior failed attempt to attack two of those same patents covering Acorda’s innovative multiple sclerosis drug Ampyra.
“The fact that a hedge fund or others can file endless challenges to the same patents over and over again, forcing small companies like Acorda to divert their time, attention and limited resources to fighting these improper attacks rather than focusing on bringing new cures to patients, is outrageous and offensive. His abuse of this system highlights the need for reform.
“BIO again calls on the Patent and Trademark Office (PTO) and Congress to quickly take action to stop this abuse, which is threatening to undermine the medical innovation system in this country.”
For more information on BIO and the biotechnology industry, please visit www.bio.org.
About BIO
BIO is the world's largest trade association representing 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. BIOtechNOW is BIO's blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter. Subscribe to the BIO Newsletter.
Upcoming BIO Events
BIO IP & Diagnostics Symposium
September 18, 2015
Alexandria, VA
BIO Latin America Conference
October 14-16, 2015
Rio de Janeiro, Brazil
PMC/BIO Solutions Summit
October 14, 2015
Washington, D.C.
BIO Investor Forum
October 20-21, 2015
San Francisco, Calif.
BIO-Europe
November 2-4, 2015
Munich, Germany
BIO IP Counsels Committee Conference
November 16-18, 2015
Cary/Raleigh, NC
BIO CEO & Investor Conference
February 8-9, 2016
New York, New York
13th Annual BIO Asia International Conference
March 15-16, 2016
Tokyo, Japan
BIO International Convention
June 6-9, 2016
San Francisco, Calif.
Contacts
Biotechnology Industry Organization (BIO)
Daniel Seaton, 202-549-8243
Web: www.bio.org
Blog: www.biotech-now.org
Twitter: @IAmBiotech
