Bio Lauds New NIH Grants Offering Portion of Stimulus Funds to Small R&D Companies;

Encourages Continued Support of Innovation Economy In Difficult Economic Times

WASHINGTON, D.C. (Friday, June 05, 2009) - The National Institutes of Health announced two new grants programs this week for the small business research community that will be supported by funds provided to the NIH under the American Recovery & Reinvestment Act of 2009 (the Stimulus Bill).  Alan Eisenberg, BIO Executive Vice President for Emerging Companies and Business Development, said in a statement:

“BIO commends the National Institutes of Health in their continuing efforts to support the development of new medical innovation.  Many emerging biotech companies are struggling to raise the necessary capital to continue their groundbreaking research due to the economic crisis.  As a direct result of this difficult environment, many small companies are being forced to leave promising research projects on the shelves and layoff researchers.

“These new programs will help to provide needed resources to biotech companies, who are at the cusp of many new medical breakthroughs and advancements for many of our most dread diseases.  BIO applauds the NIH and encourages them to continue to find mechanisms to support this critical industry.

“America’s biotech companies will serve as an engine of growth in the 21^st Century innovation economy, helping to lead the U.S. out of the current economic downturn.  Biotech companies create new products, including life-saving therapeutics, and sustain and establish high-paying, research-oriented American jobs, resulting in long term economic prosperity.” 

            More information on the NIH grants programs can be found by clicking on the links below:

• Recovery Act Limited Competition: Biomedical Research, Development, and Growth to Spur the Acceleration of New Technologies (BRDG-SPAN) Pilot Program (RC3), and
• Recovery Act Limited Competition: Small Business Catalyst Awards for Accelerating Innovative Research (R43).

Upcoming BIO Events

BioEquity Europe
June 9-10, 2009
Munich, Germany

World Congress on Industrial Biotechnology & Bioprocessing
July 19-22, 2009
Montreal, Quebec, Canada

About BIO

BIO represents more than 1,200 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world.

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