It has been a bad
couple of weeks for hedge fund manager Kyle Bass’s
efforts to get pharmaceutical companies’ patents
invalidated. The Patent Trial and Appeal Board has denied three
of the Coalition for Affordable Drugs’ petitions
two challenging patents covering Acorda’s Ampyra
one covering Biogen’s Tecfidera treatment.
Bass is not taking it lying down – he has slammed
the Board and USPTO director Michelle Lee while continuing to
file inter partes review petitions.
"It appears to me, after the Biogen ruling, that Michelle
Lee and the US Patent and Trademark Office are running a
kangaroo court," Bass
told Business Insider. He added that Lee should "stick to
calling balls and strikes" instead of forwarding a political
told the Wall Street Journal he would persist in his
campaign. "I’ve spent years of my life working on
this and my arguments are as good as can be. I think I can win
if they’ll just hear the cases on the merits," he
True to his word, he has filed nine more petitions since the
Board issued its first denial of a Coalition for Affordable
Drugs petition on August 24, bringing his total number of
petitions to 32.
Pepper Hamilton, which represents Acorda and the University
of Pennsylvania on various matters, noted the manner of the
Board’s denials so far may have given Bass hope.
"However, in each instance, the PTAB reached decisions on the
merits of the hedge fund’s petitions. The fact
that the PTAB considered the petitions and did not exercise its
discretion to reject them outright based on the
fund’s primary goal of depressing stock prices,
was all the encouragement Bass needed,"
said Pepper Hamilton partner Tom Engellenner.
According to Docket Navigator, the nine recent petitions
comprised four more targeting Acorda patents, three targeting
Insys Pharma patents and three targeting Trustees of the
University of Pennsylvania patents.