BIO Statement on USPTO IPR Decisions

WASHINGTON--(BUSINESS WIRE)-- The Biotechnology Industry Organization (BIO) today released the following statement on the decision by the U.S. Patent and Trademark Office rejecting challenges to two patents held by Acorda Therapeutics.

This statement can be attributed to BIO President and CEO Jim Greenwood:

“We applaud the decision by the U.S. Patent and Trademark Office to reject hedge fund manager Kyle Bass’ challenge of two of Acorda’s patents. Nonetheless, it remains critical that Congress and the PTO continue their efforts to reform the Inter Partes Review (IPR) process in order to ensure that it operates in a balanced manner and is not able to be abused by those attempting to game the system for their own financial gain. As has been noted in the media, Mr. Bass has filed 10 more petitions this month. This is clearly not the purpose for which the IPR system was created. The PTO should send a clear signal that it won’t tolerate the abuse of its processes for such improper purposes, and Congress should act swiftly to reform the system so that it doesn’t continue to create incentives for misuse by financial speculators and extortionists.”

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 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

The 18th Annual 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/20150825006314/en/

Biotechnology Industry Organization
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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