WASHINGTON (Business Wire) -- Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood released the following statement regarding the patent reform legislation introduced yesterday by Senator Jon Kyl (R, AZ):
"BIO appreciates the efforts of Senator Kyl and his staff to address the concerns of many stakeholders with the patent reform legislation currently pending in the Senate, and commends him for introducing the Patent Reform Act of 2008. This legislation is a vast improvement over previous bills in the House and Senate with respect to many of the discrete issues and concerns raised by BIO, patient groups, universities, labor unions and many other stakeholders over the past two years.
"In particular, the Kyl legislation advances the debate on damages in a positive direction by enhancing consistent enforcement of the current law on damages and providing greater predictability for companies across all industries - but without manipulating the rules to favor infringers.
"Further, although the post-grant review provisions in the Kyl legislation would provide a second window to administratively challenge a patent, the circumstances allowing such a challenge are considerably more narrow than those in S. 1145, the Patent Reform Act. The broad new administrative challenge system in S. 1145 would create patent uncertainty and reduce investment interest in biotechnology innovation.
"BIO remains committed to working with all Senators and Representatives, their staff, and other stakeholders to reach agreement on how best to improve our nation's patent system in a way that promotes innovation, improves patent quality and increases public participation. The Kyl legislation is an important step forward in enacting patent reform that will benefit the American economy."
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 annual BIO International Convention, the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. www.bio.org
Upcoming BIO Events
Intellectual Property Council Committee Fall Conference and Meeting October 20-22, 2008 Orlando, Fla. BIO HR Conference 2008 October 26-28, 2008 San Diego, Calif. BIO-LES Advanced Business Development Course October 27-29, 2008 San Francisco, Calif. BIO Investor Forum 2008 October 29-31, 2008 San Francisco, Calif. Advanced Business Development Course November 14-16, 2008 Mannheim/Heidelberg, Germany BIO-Europe 2008 November 17-19, 2008 Mannheim/Heidelberg, Germany 2009 BIO International Convention May 18-21, 2009 Atlanta, Ga.
Biotechnology Industry Organization (BIO)
Stephanie Fischer, 202-312-9263
sfischer@bio.org
www.bio.org
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