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New Report Supports 12 Years for Follow-on Biologics
Submitted on:
07.14.2009
On Friday, the National Venture Capital Association released a
report
that outlines why 12 years of exclusivity for biological drugs is important to advance innovation and to help companies recover from the costly investment in creating a biological drug. The study found that the cost of capital for early-stage biotech companies is more than 20 percent, this is twice as high as policymakers originally assumed. The study also found that biotech venture investing is rapidly declining—in 2009 venture capital fundraising has dropped 75 percent. As investments decline the promise of innovative therapies and drugs will diminish. The hope is that this report will help lawmakers create responsible legislation for approving follow-on biologics that will not only provide incentives to continue research and development of novel treatments, but will also protect patients.
Click here
to read the full article in The Wall Street Journal Blog.
Click here
to read the report from the National Venture Capital Association.
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