Temporary PTO Funding Option is Critical For Biotech Innovation and Jobs

WASHINGTON, D.C. (Wednesday, July 08, 2009) - The following statement was issued today by the Biotechnology Industry Organization regarding a proposal to provide a temporary funding option for the U.S. Patent and Trademark Office (PTO) to avoid the furlough of patent office employees or other staff reduction measures:

“Continued innovation in the U.S. biotechnology industry is dependent on a strong and well-functioning U.S. PTO.  Furloughs or other measures that result in a reduction of patent examiners will have a negative impact on the ability of the PTO to examine critical biotech patent applications in a timely manner.   This could slow innovation in our sector, stifling biotech innovation, threatening U.S. competitiveness and jeopardizing the more than 7.5 million high-wage, high-quality U.S. jobs provided by the biotech industry.  

“We applaud House Judiciary Committee Chairman John Conyers (D-MI) and Ranking Member Lamar Smith (R-TX) for their quick action to address this matter.  We urge the Senate to act quickly on this important issue.”


Upcoming BIO Events

World Congress on Industrial Biotechnology & Bioprocessing
July 19-22, 2009
Montreal, Quebec, Canada 

BIO Investor Forum
October 28-29, 2009
San Francisco, CA

Advanced Business Development Course
October 30, 2009
Vienna, Austria

BIO Europe International Partnering Conference
November 2-4, 2009
Vienna, Austria

Pacific Rim Summit on Industrial Biotechnology and Bioenergy
November 8-11, 2009
Honolulu, HI 

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.