WASHINGTON--(BUSINESS WIRE)--The following statement may be attributed to BIO President & CEO James Greenwood:
“I congratulate Andrei Iancu on his Senate confirmation to fill the position of Under Secretary of Commerce for Intellectual Property and Director of the U.S. Patent and Trademark Office (PTO).
“The position of PTO Director is extraordinarily important, as it oversees a federal agency that is an indispensable element of the continued economic growth and innovation of American enterprise.
“Strong and reliable patents are the lifeblood of the biotechnology industry. They are critical in ensuring a steady stream of capital to biotechnology companies developing innovative medicines and more sustainable, bio-based energy and agricultural products. And they are essential to the technology transfer process that leads from inventions in the lab to products on the shelves.
“I look forward to engaging with Director Iancu and his staff as BIO continues to push for balanced reforms to curb abusive anti-patent practices, protect the ability of patent owners to defend their inventions and businesses against infringement, and promote greater predictability and certainty of patent rights as a basis for investment in innovation.”
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.