Kyle Bass and the Coalition for Affordable Drugs Takes on Biogen

// Published April 1, 2016 by User1

Kyle Bass and his Coalition for Affordable Drugs are challenging Biogen Inc’s patent covering Tecifidera dimethyl fumarate, a drug that helps to alleviate the symptoms of multiple sclerosis. The Patent Trial and Appeal Board, which oversees U.S. patent challenges, has instituted an inter partes review on the matter.

The inter partes review is a procedural step for officially challenging a patent’s legitimacy before the U.S. Patent and Trademark Office (USPTO). The Patent Trial and Appeal Board has determined that the Kyle Bass’ Coalition for Affordable Drugs has a reasonable likelihood of showing that Biogen’s patent on the multiple sclerosis treatment is illegitimate and should be revoked.

Kyle Bass started the Coalition for Affordable Drugs specifically to take on cases like these against pharmaceutical firms. His organization has filed numerous times against other drug manufacturers to challenge patents that some would deem questionable legally. Bass’ coalition has successfully lobbied these cases on several occasions. He has previously taken on the likes of Jazz Pharmaceuticals and Accorda Therapeutics, among others.

The official patent that Bass is challenging in this case is patent #8,399,514. This patent covers the use of 480 mg of Tecifidera dimethyl fumarate for the treatment of multiple sclerosis. While the Patent Trial and Appeal Board rejected a similar challenge from Bass’ coalition last year regarding the same patent, this time it appears the regulators are giving it another look. The Patent office said it found the prior art included in this year’s petition to be much more convincing.

Kyle Bass is a hedge fund manager and founder of Hayman Capital Management, L.P. based in Dallas, Texas. Bass is recognized for predicting and profiting during the 2008 subprime crisis when he had the foresight to purchase credit default swaps on the toxic subprime securities. Kyle Bass is also a board member of the University of Texas Investment Management Company, which oversees a fund of $27 billion. Additionally, Mr. Bass is a board member of the Troops First Foundation and Business Executives for National Security.

Kyle Bass is routinely featured as a contributor for major publications and television networks like CNBC. He is often approached by media to weigh in on economic issues given his experience and expertise in market analysis. He has spoken at length on economic global affairs publicly including the crisis in the Eurozone, as well as the economic outlook of Argentina and Japan. His successful prediction of the 2008 subprime crisis has led others to seek out his predictive knowledge.  Read more about what UsefulStooges has to say on this controversial figure through the following link