The Patent Trial and Appeal Board ruled against the generic drugmaker's inter partes review seeking to overturn the patent covering Tecfidera. The drug, which had $4.4 billion in sales last year, could remain protected through February 2028.
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The San Francisco-based company, which has raised a total of $26 million, including a $12 million Series B in April 2018, notified customers that it will shut down permanently on March 4.