Sunday, April 27, 2008

SBIR/STTR Bill Passes in House

Lest you think the Colorado Bioscience Association merely flexes its muscle in Colorado…think again. Denise Brown and Company weighed in with significant support on Capital Hill re: HR5819 or the SBIR/STTR Reauthorization Act, which passed in the U.S. House of Representatives by a vote of 369 to 43.

All Colorado Representatives (Diana DeGette, Mark Udall, John Salazar, Marilyn Musgrave, Doug Lamborn and Ed Perlmutter) sans Tom Tancredo voted for the bill. Next stop is the US Senate.

HR5819 modifies the eligibility rules affecting venture capital backed (biotech) companies. The bill will increase access to critical, early-stage sources of funding for small businesses, including small biotechnology firms, thereby facilitating economic growth, job creation, and most importantly new breakthrough therapies for patients in need. Venture Capital and SBIR dollars may now work in a complementary manner to bring new therapies and innovations to the marketplace, ultimately to benefit patients and consumers. Potential great news for Colorado and the entire industry! We'll certainly pay close attention to the bill's progress.

*NOTE* Feel the power of the Colorado BioScience Association (HERE)!
*NOTE* Take a look at the new Boulder Biotech Company Tree (HERE)!
*NOTE* Read the new eBook CLSDF 2007 - What's In A Year? (HERE)!

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