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`Bio Statement Following Kyle Bass' IPR Petition | BIO
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`Bio Statement Following Kyle Bass' IPR Petition
`
`FEBRUARY 11, 2015
`
`Contact: George Goodno
`Phone: 202-962-6660
`Email: ggoodno@bio.org
`
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`Washington, D.C. (February 11, 2015) – The following statement may be attributed to BIO President
`and CEO Jim Greenwood:
`
`"Hedge fund manager Kyle Bass has opened a new door to abuse of the US patent system, exploiting
`the USPTO' s patent challenge proceeding as part of his cynical short-selling strategy against
`innovative biotech companies that are delivering transformative therapies to patients in need.
`
`"Congress never intended for the patent challenge system to be utilized by those attempting to profit
`from the confusion the current system creates. Such efforts not only damage the value of companies
`working on cures - but hurts those sick and suffering patients and their families who are eager for
`cures.
`
`"Patents are the lifeblood of innovative, lifesaving biotech companies. Congress and the USPTO should
`act promptly to prevent abuse of the patent system in this manner."
`
`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.
`
`https://www.bio.org/media/press-release/bio-statement-following-kyle-bass-ipr-petition-0
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`Patent Owner Ex. 2017
`IPR2015-01241
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