In which we respond to California Biotech Law Blog

Posted on April 7, 2008 by cartier@bio

California Biotech Law Blog posted a summary of recent House hearings on reauthorizing the Small Business Innovation Research Program (SBIR).

In the world of biotechnology, the principle at stake is the United States’s claim to be an innovation engine in the global economy. Our members and their scientists are developing disease treatments and cures at a rapid rate, but because these cutting-edge treatments are so new, it takes 10-15 years before they reach the market. In the meantime, they thrive on traditional venture capital and the government’s version of VC: the SBIR program.

If Congress wants to perpetuate the image – and reality – of the US as the center of innovation, they must adapt the criteria for SBIR grants to match the reality for these budding treatments and burgeoning companies.

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