Kyle Bass Has Launched A Determined Offensive Move Against Some Of Biogen’s Patents
It currently seems that Kyle Bass has moved away from business practices and has taken the role of being America’s guardian angel. Usefulstooges has reported before that Kyle Bass is a globally known for his work on the international investment markets. Kyle Bass business entity, Hayman Capital Management has been in the hedge fund market since its major 2008 entry. The 2008 subprime mortgage crisis gave Kyle Bass a chance to reach the top of the hedge fund sector by giving him major profits. During this crisis, Kyle Bass bought a lot of properties from investment banks that were trying to dispose of its defaulted client’s securities. This crisis is what made Kyle Bass and his Hayman Capital Management a name in business with the profits they made from the subprime mortgage crisis.
Sometime back Kyle Bass launched his new organization known as Coalition for Affordable Drugs and initialized as CFAD into the market. This Kyle Bass firm has established itself in the market as a private checker on patents issued to pharmaceutical industries in the country. The Coalition for Affordable Drugs also goes as far as challenging patents that it feels were not properly issued or those that are not clearly outlined. Since its establishment, the CFAD has successfully opposed several patents with the national patent checker, USPTO (United States Patent and Trademark Office). Biogen seems to be the new CFAD prey; Kyle Bass put up a challenge against this firm’s latest patent at the Patent Trial and Appeal Board.
Kyle Bass’ patent challenge is over Biogen’s new multiple sclerosis drug that is marketed as Tecfidera dimethyl fumarate. The Coalition for Affordable Drugs together with Kyle Bass were able to present the Patent Trial and Appeal Board with strong evidence that supports their doubts against Biogen’s Tecfidera dimethyl fumarate patent. Kyle Bass and CFAD said that their research discovered inconsistencies on the information provided by Biogen about the proper usage and dosage of their Tecfidera dimethyl fumarate. The Patent Trial and Appeal Board said that it found sufficient grounds under which Biogen’s patent should be questioned and subjected to further scrutiny. The market regulator continued saying that it had issued out an inter partes review (IPR) over Kyle Bass’ patent challenge. It further stated that the IPR will initiate the patent challenging procedure before the United States Patent and Trademark Office.
Kyle Bass and his Coalition for Affordable Drugs has been successful in challenging patents of American pharmaceutical firms such as the Celgene Corporation, Jazz Pharmaceuticals, and the Acorda Therapeutics. Kyle Bass said that his recent patent challenge against U.S. Patent No. 8,399,514, seeks to make sure that the U.S. consumers are provided with sufficient information about the drugs they purchase. He added that Biogen should have clearly stated the correct dosage of 480 mg dimethyl fumarate, a drug used for treatment of multiple sclerosis conditions.