BIO Response To Hillary Clinton’s Initiative On Technology & Innovation

WASHINGTON--(BUSINESS WIRE)--The Biotechnology Innovation Organization today released the following statement in response to Democratic Presidential Candidate Hillary Clinton’s Initiative on Technology & Innovation:

“As one of America’s most innovative industries, biotechnology is tackling head-on the unrelenting scientific challenges inherent in the discovery, development and delivery of new, high-value healthcare, agricultural, industrial and environmental products.”

“As one of America’s most innovative industries, biotechnology is tackling head-on the unrelenting scientific challenges inherent in the discovery, development and delivery of new, high-value healthcare, agricultural, industrial and environmental products.

“To that end, we welcome many of the broad proposals put forth in Secretary Clinton’s Tech & Innovation Agenda and we share her optimism in the power of American innovation and ingenuity to address global health, environmental and food-supply challenges. Furthermore, we look forward to reviewing more specific policy proposals to ensure the patent system continues to reward all innovators without favoring one industry over another.

“BIO supports efforts to curb intellectual property abuses through targeted patent litigation reform that properly considers the impact of those changes on the vast majority of patent owners and licensees who engage in legitimate activities. We furthermore share Secretary Clinton’s interest in putting an end to user fee diversions at the PTO to fund other government agencies and programs, as this amounts to a tax on innovation.

“BIO strongly supports efforts to crack down on abuses in the PTO’s administrative patent challenge system, which is being used by ‘reverse patent trolls’ to fundamentally undermine the ability of biotechnology companies to rely on their patents to raise and invest the hundreds of millions of dollars needed to develop and bring to market the next generation of innovations in healthcare, agriculture, and energy.

“Intellectual property is the lifeblood of the biotechnology industry. Strong patents, and an efficient, predictable, and objective patent system, are critical to ensuring a steady stream of capital to companies developing innovative biotechnology products that are helping to feed, fuel, and heal our planet. This quintessentially-American industry leads the world in innovation, providing the United States with a global competitive advantage and spurring economic growth and the creation of high-paying jobs.

“BIO stands ready to work with all of our Presidential candidates as they continue to define their positions on the array of issues affecting the biotechnology industry.”

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.

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