Bill reforms tax rules that currently penalize investment in job creation, innovation Washington, DC (September 27, 2018) – The Biotechnology Innovation Organization (BIO) today applauded the House of Representatives for passing the American Innovation Act of 2018 (H.R. 6756), which includes a provision that would protect investments in start-ups from inadvertently triggering the net operating loss (NOL) limitations under Section 382 of the tax code. R&D-intensive biotech start-ups frequently accumulate substantial NOLs in their early, pre-revenue years, given their typical reliance on investor capital for more than a decade before realizing any product revenue.

Washington, D.C. (September 26, 2018) – The Biotechnology Innovation Organization applauds the House and Senate’s bipartisan passage of the Small Business Innovation Protection Act. The bill directs increased cooperation between the Small Business Administration (SBA) and the U.S. Patent and Trademark Office (PTO) to improve intellectual property protections for small businesses.The following statement may be attributed to BIO’s President of Advocacy, Law & Public Policy, Tom DiLenge:“Strong intellectual property (IP) protections sustain our nation’s global leadership in biotechnology innovation and the creation of high-wage, high-value jobs throughout our country. By passing the Small Business Innovation Protection Act, Congress has provided enhanced tools to equip American innovators to defend their valuable inventions against infringement both domestically and abroad.“I commend Senators Peters and Risch and Representatives Evans and Fitzpatrick for their leadership on this bipartisan legislation, which recognizes the vital role that small businesses play in driving America’s innovation economy. By providing IP training through the Small Business Development Centers, this new law will foster growth in the jobs of the future.“Study after study confirms that protecting IP is the key to innovation and economic growth. IP-intensive industries employ over 45 million Americans. The average worker in an IP-intensive industry earns about 46% more than his or her counterpart in a non-IP-based industry.“Strong patents are the lifeblood of the biotechnology industry. They are critical in ensuring a steady stream of capital to biotechnology companies developing innovative medicines and more sustainable sources of energy and agricultural products. And they are essential to the technology transfer process that leads from inventions in the lab to products on the shelves. Yet too often, small businesses lack the resources and know-how to protect their valuable IP assets.“The…

Legislation will strengthen pipeline of medical countermeasures against serious public health threats Washington, DC (September 25, 2018) – The Biotechnology Innovation Organization (BIO) today applauds the House of Representatives for passing the Pandemic and All-Hazards Preparedness and Advancing Innovation Act of 2018 (H.R. 6378). The legislation would re-authorize critical federal biodefense programs and agencies, including the BioShield Special Reserve Fund (SRF), the Biomedical Advanced Research and Development Authority (BARDA), and the Strategic National Stockpile (SNS). 

“I applaud the Administration for recognizing the importance of strengthening our national biodefense and preparedness efforts. Our nation continues to face a wide range of biological threats, and this strategy is an important step in the right direction."

“BIO’s member companies are committed to unleashing the power of scientific innovation to develop solutions that will lead to an America free of prescription opioid addiction. Today’s vote advances vital legislation that will help get new innovations to patients suffering from pain and addiction, by ensuring that our research and regulatory environments keep pace with our accelerating scientific knowledge and capabilities."