New York Law School’s Shahrokh Falati warns that broken U.S. patent eligibility laws hinder crucial cancer therapy advancements, urging Congressional action.
Urgent change is needed in U.S. patent eligibility laws, which severely hamper the development of innovative anti-cancer drugs. Shahrokh Falati from New York Law School advocates for Congress or the Supreme Court to address this critical issue.
A 2022 empirical study reveals a $9 billion decrease in venture capital funding for medical diagnostics due to Supreme Court decisions on patent eligibility. This setback impacts groundbreaking technologies like artificial intelligence, personalised medicine, and blockchain, hindering progress in the U.S.
The Supreme Court’s exceptions to patent eligibility laws, especially in the biopharmaceutical sector, create obstacles for obtaining patents and increase the invalidation of medical diagnostic patents. Notably, advancements like Dennis Lo’s foetal DNA discovery face patent ineligibility in the U.S. despite recognition in other industrialised nations.
Supreme Court jurisprudence sets a high bar for protecting medical diagnostic technologies vital in oncology. The Patent Eligibility Restoration Act of 2023 aims to rectify this, proposing the elimination of Supreme Court exceptions.
Congressional action or a potential Supreme Court reversal is essential for advancing technological innovation, particularly in the biomedical field.
Stay tuned for potential developments as stakeholders and legislators work towards overcoming barriers in U.S. patent laws for the progress of life-saving cancer therapies.
- A Closer Look at Patent Registration Strategies - December 1, 2023
- Advantages and Drawbacks of Trademark and Design Protection in India - December 1, 2023
- Midcap Stock Jumps 6% After Company Signs Trademark License Agreement With US-based Firm - December 1, 2023