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The House passes pro-investment legislation backed by BIO. Plus, Bayh-Dole turns 45. (861 words, 4 minutes, 18 seconds) |
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House passes INVEST Act, BIO-backed legislation to increase access to capital |
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BIO-backed legislation to free up capital for small innovative firms by removing regulatory barriers for both companies and investors passed the House on Dec. 11.
The legislation:The Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act contains several amendments combining reforms from previous bills BIO has supported.
How it works: By reducing regulations for firms seeking capital from sources like angel investors, crowdfunding, and IPOs; allowing more investors to enjoy certification or join VC funds; and easing reporting requirements.
Where it stands: Introduced by House Financial Services Committee Chair French Hill (R-AR) with Gregory Meeks (D-NY) and co-sponsors from both parties, the act garnered bipartisan support and passed the House by 302-123. The bill now goes to the Senate.
BIO’s support includes joining a Dec. 5 coalition letter that urged passage and praised the bill for keeping “the interests of startups and small businesses—the economic engine of this country—front and center.”
BIO’s view: “The INVEST Act would provide critical capital and tax incentives that help small and emerging biotechnology companies bridge the gap between breakthrough science and real-world therapies,” said Brad Zakes, BIO SVP, Emerging Companies and Economic Affairs. “We applaud the House of Representatives for passing this important legislation.”
Read more on Bio.News.
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Bayh-Dole at 45: Still successful, still needing protection |
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After 45 years, the Bayh-Dole Act still provides a winning formula: Allowing inventors to own their ideas enables innovation.
How it works: Launched Dec. 17, 1981, the Bayh-Dole Act lets researchers who accept federal funding patent and own their ideas.
Why it matters: Permitting private ownership of intellectual property makes it possible for investors to commit funding that can bring discoveries from the lab to the marketplace. In a research-intensive field like biotech, this has been a game changer.
How well it works: From 1996-2020, Bayh-Dole increased U.S. economic output by up to $1.9 trillion, supported 6.5 million jobs, encouraged creation of 19,000 start-up companies, and led to 149,000 patents, according to the Bayh-Dole Coalition, a group co-founded by BIO to promote the ideas behind the Act.
Threats to success: Despite its success, there are occasional attempts to undo Bayh-Dole—most recently Commerce Secretary Howard Lutnick’s proposal that the federal government should get 50% of royalties universities make off of research conducted with federal grants.
Why that won’t work:An Oct. 8 member survey by the Bayh-Dole Coalition found “100% of respondents said royalty sharing would generate less federal revenue than the current system, which already delivers large tax gains through product commercialization and company formation.”
Bottom line: “We (Americans) are the undisputed leaders in developing critically needed new medicines because our patent system promotes innovation while the Bayh-Dole Act ensures we can seamlessly form public/private partnerships,” according to Joseph Allen, Executive Director of the Bayh-Dole Coaliton. “There are many people alive today who would not be alive without Bayh-Dole.”
Read more on Bio.News.
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CDC data confirms COVID-19 vaccines effective in preventing hospitalizations among children. The latest data compiled by the Centers for Disease Control and Prevention (CDC) shows COVID-19 vaccination was 76% effective against COVID-19–associated emergency department or urgent care hospital visits for children aged 9 months to 4 years old and 56% effective for children aged 5-17, during August 2024-September 2025. Read more here.
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Novartis breaks ground on its 700,000-square-foot flagship manufacturing hub in North Carolina on Dec. 12. The project will include construction of a new facility in Morrisville and a new site in Durham encompassing two new facilities, as well as the expansion of an existing Novartis facility in Durham. Together, these investments are expected to create 700 new jobs in North Carolina by 2030 and support more than 3,000 indirect jobs across the Novartis US supply chain. It’s part of Novartis’s plan for $23 billion in investment in US-based infrastructure over the next five years. Read more here.
FDA approves gene therapy for Wiskott-Aldrich syndrome (WAS), a rare disease. The Food and Drug Administration (FDA) approval was the first of a cell-based gene therapy for WAS and the first of a cell and gene therapy product from a non-profit applicant (Fondazione Telethon ETS of Italy), FDA said. The treatment uses the patient’s own genetically corrected hematopoietic stem cells to treat the disease, FDA said. Read more here. |
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