In just a few months, we’ve already seen incredible progress on COVID-19 treatments and vaccine candidates—with some therapeutics, like remdesivir, already helping sick patients, while others are moving speedily along the clinical trial process. How? Thanks in part to public-private partnership—and an important law passed 40 years ago, as Bloomberg Law reports.
The pandemic is far from over—but we're seeing promising breakthroughs from the biotech industry. Gilead’s remdesivir and Moderna’s vaccine candidate are just two of many examples of how the biopharma industry has been moving with lightning speed on the coronavirus.
The Bayh-Dole Act of 1980 fosters biomedical innovation. The “little-known law that encourages licensing agreements between private pharmaceutical companies and government-funded researcher,” as Bloomberg Law explains.
Just look at the numbers: “Bayh-Dole has spurred 13,000 startups, resulted in more than 100,000 new patents, and led to the disclosure of more than 420,000 inventions just from 1996-2017,” reports Bloomberg Law—as well as some 300 drugs on the market.
Why it matters: As BIO’s President of Advocacy, Law, and Public Policy Tom DiLenge explains, there are around 400 COVID-19 products in the lab and 100 in trials—and biotechs are investing in the development and regulatory requirements necessary to get those drugs to patients as soon as possible.
For more information on Bayh-Dole and why it matters, visit bayhdole40.org or check out our infographic.
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