BIO Hails Senate Passage of America Invents Act

BIO Hails Senate Passage of America Invents Act

Bipartisan, consensus-oriented approach will strengthen nation’s patent system and spur innovation, job creation

Washington, D.C. (March 8, 2011) – Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood released the following statement on the passage today of the America Invents Act (S. 23) by the U.S. Senate:

“BIO commends the Senate for its overwhelming passage of the America Invents Act by a vote of 95-5.  We appreciate the dedication of Senate Judiciary Chairman Patrick Leahy (D-VT), Ranking Member Charles Grassley (R-IA) and the bill’s other cosponsors for their tireless efforts to build bipartisan consensus on the legislation.  Once enacted into law, it will strengthen and improve our nation’s patent system, spurring innovation and job creation.

“Patents are often the main assets of small biotech companies, and they rely on this intellectual property to attract investors to fund the lengthy and expensive research and development process necessary to bring breakthrough new therapies and other biotech products to patients and consumers.

“The improvements made by the America Invents Act would benefit all sectors of the U.S. economy by enhancing patent quality and the efficiency, objectivity, predictability, and transparency of the patent system. 

“BIO encourages the House of Representatives to consider patent reform without delay, and we look forward to working with Chairman Lamar Smith (R-TX) and the members of the House Committee on the Judiciary.  We are committed to ensuring that patent reform legislation preserves and enhances the incentives necessary to sustain our nation’s global leadership in biotechnology innovation and to spur the creation of high-wage, high-value jobs throughout the country.”

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BIO Supports Patent Reform Act of 2011: Press Release

BIO Supports Patent Reform Act of 2011

Bipartisan, consensus-oriented approach will strengthen nation’s patent system

 

Washington, D.C. (January 28, 2011) – Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood released the following comment on the introduction of the Patent Reform Act of 2011 (S. 23) by Senate Judiciary Committee Chairman Patrick Leahy (D-VT) earlier this week:

“BIO appreciates the dedication of Chairman Leahy, Ranking Member Charles Grassley (R-IA) and the bill’s other cosponsors for their tireless efforts over the past several years to carefully craft bipartisan, consensus-oriented patent reform legislation.

“We believe the Patent Reform Act of 2011 will help strengthen and improve our nation’s patent system for all users while preserving the incentives necessary to spur the creation of high-wage, high-value jobs and sustain America’s global leadership in innovation.

“Innovation in biotechnology is based upon the strong and predictable protection of intellectual property provided by our nation’s patent system. Without strong and predictable patent protection, investors would shy away from investing hundreds of millions of dollars, over a decade or more, in high-risk biotechnology companies, and will simply put their money into projects or products that are less risky or offer a more immediate return but are of less value to society.

“The Patent Reform Act of 2011 would improve the patent system in ways that would benefit all sectors of the U.S. economy by enhancing patent quality and the efficiency, objectivity, predictability, and transparency of the patent system.  BIO remains steadfast in our commitment to work with the Chairman and members of the House and Senate as this legislation advances to ensure that the final bill remains true to these principles.”

About BIO

BIO represents more than 1,100 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. BIO produces BIOtech Now, an online portal and monthly newsletter chronicling “innovations transforming our world.” Subscribe to BIOtech Now.

Upcoming BIO Events

BIO CEO & Investor Conference
February 14-15, 2011
New York, NY

BIO-Europe Spring 2011
March 14-16, 2011
Milan, Italy

BIO Intellectual Property Counsels Committee Spring Conference and Committee Meeting
April 13-15, 2011
Seattle, WA

World Congress on Industrial Biotechnology & Bioprocessing
May 8-11
Toronto, Ontario, Canada

BIO International Convention
June 27-30, 2011
Washington, DC

2011 BIO Human Resources Conference
June 26-28, 2011
Washington, DC

National Journal Article with Senate Patent Reform Bill Text

The National Journal Tech Daily Dose has an article stating that “The Bill has been put on the Judiciary Committee’s agenda for its Jan. 27th markup.”

The article has a link to the text of the proposed Patent Reform Bill.