Therapeutic Discovery Project Credit

The Therapeutic Discovery Project (TDP) was enacted in 2010 to provide bridge financing to small biotechnology companies conducting groundbreaking research. The program awarded $1 billion in credits and grants to nearly 3,000 biotech companies, creating jobs, bolstering U.S. competitiveness, and advancing the search for cures and breakthrough medicines. BIO supports extending and expanding this important program.

April 9, 2012

Capital formation challenges in the industry have forced many biotech companies to halt...

April 9, 2012

BIO believes that the level of support provided by the TDP simply cannot meet the needs of the...

April 9, 2012

The biotech industry is a thriving sector employing 1.3 million Americans in high quality,...

March 9, 2012

In 2010, the Therapeutic Discovery Project (TDP) awarded $1 billion in tax credits to about 2,...

Letters, Testimony & Comments

April 30 2015
On behalf of the Biotechnology Industry Organization Before the United States House of Representatives Committee on Financial Services, Subcommittee on Capital Markets and Government Sponsored Enterprises --- Legislative Proposals to Enhance Capital Formation and Reduce Regulatory Burdens
April 1 2011
BIO submitted comments in response to the Request for Comments on the Strategy for American Innovation issued by the U.S. Department of Commerce. BIO addressed policies relating to government research and development, entrepreneurship, intellectual property, and incentives to innovate. BIO encouraged the Department of Commerce to help create an environment conducive to risk-taking and one that will unleash the tremendous potential of biotechnology.
August 3 2010
This Notice provides the procedures under which an eligible taxpayer may apply for certification from the IRS and HHS of a qualified investment with respect to a qualifying therapeutic discovery project as eligible for a credit or a grant under the program.
August 3 2010
BIO advocated for the recently enacted new Therapeutic Discovery Project Credit program, which was created as a unique opportunity for companies in a loss position to earn tax credits for up to 50 percent of many of their R&D activities, and at their option, exchange these credits for a grant, on 1:1 basis.
November 19 2009
As Congress considered healthcare reform patient advocacy groups submitted a letter to Congressional leadership asking for their support of the Therapeutic Discovery Project Tax Credit.

Press Releases

October 28 2013
BIO responds to a Senators letter to FDA Commissioner Margaret Hamburg, regarding naming standards for biosimilars - drugs that are similar to, but not the same as the innovator drugs they seek to replicate.
February 15 2012
The bill will modernize the FDA and accelerate patient access to cures and new treatments.
December 19 2011
Extension of cellulosic biofuel tax credits now and eligibility for algae biofuels are needed to help companies raise financing for first-of-a-kind biorefineries.  
September 19 2011
  The Biotechnology Industry Organization (BIO) today announced the preliminary set of speakers who will be featured on the Therapeutic Workshops during the10th annual BIO Investor Forum to be held October 25 - 26 in San Francisco, CA. 
May 25 2011
BIO commends Reps. Davis (D-Ca) and Schwartz (D-PA) for their continued efforts to extend the Qualifying Therapeutic Discovery Project Tax Credit.