Hopes and Cures

Yesterday, the House voted overwhelmingly (368-43), to reauthorize the Small Business Innovation Research (SBIR) program.  This bill will allow more biotechnology companies to compete for research funding.

This act will increase access to early-stage funding for treatments and cures for debilitating diseases.  Congress has recognized the capital-intensive needs of emerging biotechnology companies, whose development of a single new therapy often costs hundreds of millions of dollars and takes more than a decade to reach patients. 

The Washington Post quoted Science Committee Chair Bart Gordon (D-Tenn.):

“Innovation is crucial for maintaining America’s competitive lead in this global economy.  SBIR and STTR are good economic stimulus programs that support research and innovation among our country’s leading job creators - small businesses.” 

The Biotechnology Industry Organization (BIO) believes it is sound public policy for the Federal Government to continue to encourage and support scientific innovation, an area where American researchers have historically been at the global forefront. 

From their statement, issued today:

“BIO and patient advocacy groups around the world are especially pleased that the House reinstated the eligibility of small biotechnology companies with majority venture capital investment to compete for SBIR funding.  Both venture capitalists and the government’s SBIR program intend to fund the most promising science.  These two sources of funding should work in a complementary manner to bring new therapies and innovations to the marketplace, ultimately to benefit patients and consumers.

“BIO is also delighted to express its strong support for the inclusion of language in the reauthorization of the SBIR program that identifies rare disease research as an area that is deserving of special attention.  We appreciate the House’s efforts to stimulate research in orphan diseases such as ALS and provide much needed resources to small businesses, which are so critical to advancing the fight for a treatment and cure for such crippling diseases.”

This act will increase access to early-stage funding for treatments and cures of debilitating diseases.  Congress has recognized the capital-intensive needs of emerging biotechnology companies, whose development of a single new therapy often costs hundreds of millions of dollars and takes more than a decade to reach patients.” 

This is good news for our patient groups who rely on biotech solutions for their life threatening illnesses.  We anxiously look forward to action from the Senate.  Stay tuned!