Thursday, February 05, 2015

BIO opposes re-introduced Innovation Act

From a press release

“BIO supports targeted reforms to reign in abusive patent enforcement practices, but any efforts to accomplish this must be done in a way that preserves the patent-based incentives necessary to sustain our nation’s global leadership in biotechnology innovation and the creation of high-wage, high-value jobs throughout our country. BIO is concerned that the Innovation Act as re-introduced today fails to meet that test, by undermining the ability of legitimate patent owners to commercialize their inventions and enforce their patent rights against infringers.
“Against the backdrop of unprecedented legislative, judicial, and administrative changes to the patent system during the past two years, BIO’s members, leading universities, and innovators from across the spectrum of the American economy consistently have urged Congress to proceed cautiously with proposals for additional changes that would continue to shift the legal balance against patent owners.
“Strong patents are the lifeblood of the biotechnology industry. They are critical in ensuring a steady stream of capital to biotechnology companies developing innovative medicines, alternative energy sources, and insect and drought resistant crops. And they are essential to the technology transfer process that leads from inventions in the lab to products on the shelves.

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