BIO's Statement to the Senate Committee on the Judiciary on the Role of Federally-Funded University Research in the Patent System
BIO's statement on the Senate Committee on the Judiciary.</p>
The Biotechnology Industry Organization (BIO) appreciates this opportunity to provide the perspective of its members on the role of federally-funded university research in the patent system. BIO represents over 1,100 companies, universities and research institutions using biotechnology to research and develop cutting edge healthcare, agricultural, industrial and environmnetal products and applications.
From the perspective of the biotechnology industry, it has been the strength and predictability of the U.S. patent system that has led to the translation of publicly-funded research into useful, commercial products. This unparalleled patent system in conjunction with the Bayh-Dole Act has served as a basic tool for economic development and job creation in the United States.