Kyle Bass Doubles Down: New IPR Petitions Filed

Posted by Tom Chlebeck on Aug 21, 2015

Tom Chlebeck

Yesterday, Kyle Bass and his hedge funds opened a new front in their war against patent owners (on which we have reported previously) by filing three new IPR petitions. This time, the Bass Coalition has attacked U.S. Patent Nos. 7,582,621 (IPR2015-01776) and 7,767,657 (IPR2015-01780 and IPR2015-01785). Assigned to Anacor Pharmaceuticals, Inc., these patents cover KERYDIN® (tavaborole), which is an antifungal medication approved by the FDA for treatment of onychomycosis of the toenails due to Trichophyton rubrum or Trichophyton mentagrophytes.

On the same day in related IPR proceedings, Celgene responded to the Coalition’s defense of this unusual market manipulation strategy (see, for example, IPR2015-01103 Paper 19).

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Topics: Kyle Bass

Kyle Bass to PTAB: Greed is Good

Posted by Post-Grant Group on Aug 17, 2015

As we recently noted, patent owner Celgene moved for sanctions against Kyle Bass and his hedge funds, arguing that the funds are engaged in extortion and that they are abusing the IPR process. On August 11, 2015, the hedge funds responded with a full-throated defense of their practices (IPR2015-01103 Paper 15).

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Topics: Kyle Bass, Patent Owners

Patent Owner Goes Fishing for Sanctions in Bass IPR Saga

Posted by Tom Chlebeck on Aug 6, 2015

Tom Chlebeck

Last week, the latest chapter in the Kyle Bass IPR saga unfolded, as one of the besieged patent owners filed a motion for sanctions against the petitioner and the hedge funds funding the petitions. The patent owner, Celgene, alleged that filing IPR petitions was part of an extortion attempt, amounting to an abuse of process and improper use of IPR proceedings. It proposed that the PTAB sanction the hedge funds by dismissing the petitions filed against Celgene patents.

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Topics: Kyle Bass

Battle Lines Drawn in Hedge Fund IPR Row

Posted by Justin Colannino on Jul 9, 2015

Justin Colannino

The high-stakes drama surrounding Kyle Bass and his hedge funds continued last week, as the funds fought back against accusations that they are abusing the IPR process. As we wrote previously, the PTAB authorized a patent owner to file a request for additional discovery, seeking evidence that IPR petitions were filed by the funds in order to seek profits rather than as part of a proper use of the IPR process. The patent owner accuses the funds of short-selling stock and then using IPRs to drop the stock price by calling into doubt patents that protect the patent owner’s business.

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Topics: Kyle Bass

With Request for Discovery, Patent Owner Hopes to Fry Bass

Posted by Ed Walsh on Jul 6, 2015

Ed Walsh

In response to a patent owner’s complaints that Kyle Bass—or more specifically, two hedge funds that he manages—is using IPRs improperly, the PTAB has authorized the patent owner to file a request for additional discovery in its IPR. (IPR2015-01086, Paper 8) The patent owner accuses Bass of using the IPRs to manipulate the price of its stock so that these hedge funds can profit. Further, the patent owner alleges that this manipulation is an abuse of process or an improper use of the proceeding, which warrants dismissing the IPRs.

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Topics: Kyle Bass

Patent Owners to Bass: Something Smells Fishy

Posted by Ed Walsh on Jun 12, 2015

Ed Walsh

Hedge fund manager Kyle Bass has thrown the pharmaceutical industry into turmoil by using the IPR process to challenge patents covering drugs with literally billions of dollars in annual sales. Now, the patent owners are firing back, seeking to have his challenges thrown out as an abuse of process. The patent owners may be getting some traction—or at least a PTAB panel that is willing to listen to their concerns, as shown by a recent grant of permission to make a motion to dismiss the IPRs (see, for example, IPR2015-01092, paper 7).

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Topics: Kyle Bass

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