In less than a decade, the biotechnology field has matured from a frontier science into a well-established industry. In 2004 the global biotechnology market was worth over $100 billion: the U.S. market for biotech products alone accounted for almost half the world total. The industry has witnessed great advances in the areas of human health, agricultural production and biodefense, and still presents thrilling opportunities for the inventor, the investor, and the public as new technologies are developed, tested, and eventually produced for broad application.
The excitement inherent to this industry is tempered, however, by its intrinsic risks: the high costs of research and development; the long lead time required to develop new products; and potential legal problems for biotechnology firms, including regulatory issues, intellectual property protection and the potential for litigation.
Patton Boggs represents a wide range of biotechnology clients, including companies involved in the genetic engineering of whole foods and food ingredients, biotechnology-derived human and animal drugs/biologics and diagnostic medical device products. We assist our biotechnology clients on matters including all manner of intellectual property protection (with special expertise in patent prosecution), licensing, technology transfer and franchising, and public policy.