BIO Statement: Kyle Bass Continues Abuse of Patent Challenge System

Billionaire Hedge Fund Manager Loses Challenges – Immediately Files Second Challenge on Same Patents

WASHINGTON--(BUSINESS WIRE)-- The Biotechnology Industry Organization (BIO) today released the following statement regarding the recent IPR challenges filed by hedge fund manager Kyle Bass.

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 SymposiumSeptember 18, 2015Alexandria, VA			BIO Latin America ConferenceOctober 14-16, 2015Rio de Janeiro, Brazil
PMC/BIO Solutions SummitOctober 14, 2015Washington, D.C.			BIO Investor ForumOctober 20-21, 2015San Francisco, Calif.
BIO-EuropeNovember 2-4, 2015Munich, Germany			BIO IP Counsels Committee ConferenceNovember 16-18, 2015Cary/Raleigh, NC
BIO CEO & Investor ConferenceFebruary 8-9, 2016New York, New York			13th Annual BIO Asia International ConferenceMarch 15-16, 2016Tokyo, Japan
BIO International ConventionJune 6-9, 2016San Francisco, Calif.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150903006443/en/

Biotechnology Industry Organization (BIO)
Daniel Seaton, 202-549-8243
Web: www.bio.org
Blog: www.biotech-now.org
Twitter: @IAmBiotech

Source: Biotechnology Industry Organization (BIO)

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