Hedge fund aims algorithms at pharma patents to sink stocks

BioTech – Hedge fund manager Kyle Bass has outlined how he picks pharma patents to challenge for his new money-spinning project. The project is underpinned by two emerging assets commonly thought of as a potential boon for drug developers: large data sets and algorithms with which to interrogate them.

Bass, who made his name and $500 million betting against subprime mortgages in the 2007 crash, has set his sights on drug patents in recent months, filing 14 challenges against seven products. The idea is to identify companies with shaky patents, bet against their stocks, mount legal actions against the intellectual property and profit if the share price subsequently falls.

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