BIO Commends Senator Specter For Standing Firm On Patent Reform Legislation

Business Wire, April 10, 2008

WASHINGTON -- Biotechnology Industry Organization President and CEO Jim Greenwood issued the following statement today regarding efforts to pass comprehensive patent reform legislation in the U.S. Senate:

"BIO applauds the continuing efforts of Senator Arlen Specter (R-PA) to improve and strengthen the Patent Reform Act (S. 1145) to ensure that this legislation promotes continued U.S. leadership in innovation and treats all industries fairly. Senator Specter has stood firm to ensure that the Senate will consider a consensus bill that truly improves the patent system and does not undermine a structure that has been the driving force behind American technological leadership.

"Biotechnology innovation has the potential to provide cures and treatments for some of the world's most intractable diseases, such as cancer, Alzheimer's, Parkinson's, and HIV/AIDS, and to address some of the most pressing agricultural and environmental challenges facing our society today. To fulfill this promise, we must have a patent system that provides objectivity, predictability, and certainty for researchers, innovators and investors. Patents enable biotech researchers to secure their intellectual property and attract the hundreds of millions of investment dollars needed to develop life-saving medical therapies, sustainable alternative fuels, drought resistant food crops and other innovations that save and improve lives.

"The revisions to the bill that have been proposed to date continue to include key provisions that would jeopardize many economic sectors, such as biotechnology, that rely on strong patent protection to help fuel American economic growth. Senator Specter and other Senators were right to reject them. This is not a risk that the Senate should take at a time when we need to do all we can to support innovative, growth-oriented American industries and a fragile U.S. economy.

"We thank Senator Specter and his staff for their leadership and pledge our support to work in a consensus manner to improve the existing bill to preserve the underlying strength of our nation's patent system. Our nation, and our economic future, deserve no less."

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 BIO International Convention, the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world.

Upcoming BIO Events

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BIO National Venture Conference
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April 22-23, 2008
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Boston, Mass.
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World Congress on Industrial Biotechnology & Bioprocessing
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April 27-30, 2008
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Chicago, Ill.
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2008 BIO International Convention
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June 17-20, 2008
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San Diego, Calif.