The following statement was issued by Jim Greenwood, president and CEO of the Biotechnology Industry Organization (BIO), regarding the vote today by the U.S. House of Representatives on the passage of the Patent Reform Act of 2007 (H.R. 1908):

"BIO appreciates the continued efforts by the House to improve the Patent Reform Act, but unfortunately cannot support the legislation passed today as it threatens continued biotechnological innovation. We welcome improvements to the U.S. patent system, particularly those that increase patent quality, increase public participation, and provide additional resources to the Patent and Trademark Office (PTO). However, the legislation that passed the House today and the legislation currently pending in the Senate do far more harm than good to our nation's patent system.

"While we are disappointed that the legislation passed the House, we were heartened that it did so narrowly and that there was strong bipartisan opposition to the bill. This opposition demonstrates the serious concern of varied stakeholders -- across many industries, research institutions and other interests -- with the bill and the need for a more consensus-oriented approach to patent law reform.

"We look forward to working with the Senate to improve upon this legislation, particularly with respect to provisions relating to damages, inequitable conduct reform, post-grant review proceedings and PTO rulemaking authority."

About BIO

BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and 31 other nations. BIO members are involved in the research and development of healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the annual BIO International Convention, the global event for biotechnology.