Acorda Wins IPRs, Defeating Hedge Fund’s Attempt to Invalidate Drug Patents
New York, NY – Paul Hastings LLP, a leading global law firm, and client Acorda Therapeutics, Inc. won two inter partes reviews (“IPR”) related to the biotechnology company’s flagship drug Ampyra — a treatment that helps improve walking in people with Multiple Sclerosis.
On August 24, 2015, the Patent Trial and Appeal Board (“PTAB”) denied institution on all grounds for the two IPRs (IPR2015-00720 and IPR2015‑00817) the Coalition for Affordable Drugs, an organization with close ties to hedge fund manager Kyle Bass, filed against Acorda Therapeutics. Paul Hastings represented Acorda Therapeutics before the PTAB.
“We’re extremely gratified by the Board’s decision denying two petitions by Mr. Bass and his consortiums in the first-of-its-kind decision,” said
Kyle Bass’ group is challenging pharma patents of several drug companies through the IPR process. Acorda was the first company Mr. Bass’ group challenged before the PTAB. The PTAB denied institution of the IPRs against Acorda on substantive grounds, finding that Mr. Bass’ group had not demonstrated that material it relied upon in its challenges qualified as “printed publications.”
This victory follows the
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