House Innovation Agenda Would Allow Small Biotech Companies to Compete for SBIR Grants Regardless of Capital Structure
WASHINGTON, D.C. (April 27, 2007) -- Jim Greenwood, president and CEO of the Biotechnology Industry Organization (BIO), issued today the following statement praising the inclusion of Small Business Innovation Research (SBIR) grant eligibility reform in Speaker Nancy Pelosi’s House Innovation Agenda:
“I commend Speaker Pelosi for recognizing that the current SBIR eligibility requirements prevent greater competition in the program. The House Innovation Agenda would allow small companies to compete for SBIR grants regardless of their capital structure.
“For more than 20 years, small innovative biotech companies were able to compete for SBIR grants. The arbitrary 2003 Small Business Administration (SBA) interpretation of eligibility standards inequitably penalized small biotech firms and has delayed — in some cases even prevented —research on potential treatments for devastating diseases.
“More competition results in better science, which leads to better life-enhancing and life-saving products. In the end, patients win.”
BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and 31 other nations. BIO members are involved in the research and development of healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the annual BIO International Convention, the global event for biotechnology.
Upcoming BIO Events
· BIO International Convention
May 6-9, 2007
· BIO VentureForum-East 2007
June 18-20, 2007
· BIO Mid-America VentureForum 2007
Sep. 24–26, 2007