legislation

Congress extends R&D tax credit in bailout

John Carroll — Mon, 06 Oct 2008 11:08:47 -0400

The emergency $700 billion bailout bill includes some good news for biopharma companies. Congress extended the research and development tax credit by two years. The credit had expired at the end of last year.

"In today's challenging economic environment, R&D is a critical catalyst for American innovation, economic growth, and job creation," said the R&D Tax Coalition in a statement. "The R&D tax credit motivates U.S.-based companies to keep cutting-edge research projects in the United States while funding high wage and high skilled jobs for American R&D workers across diverse industries such as manufacturing, information technology, biotech, agriculture, aerospace and others."

- check out the story from IDG News

Bill offers small developers shot at R&D funds

John Carroll — Mon, 11 Aug 2008 11:21:13 -0400

Biotech companies majority-owned by venture groups would once again have a shot at some $2 billion in Small Business Innovation Research awards under compromise legislation advanced in the U.S. Senate. The bill limits the number of R&D contracts the VC-controlled firms would be eligible for. The full Senate will vote next month, with an approval sending the legislation on to the House.

Passage of a law would mark a victory for the Biotechnology Industry Organization, which has been lobbying lawmakers for five years to remove the restriction from law. Under the law, federal agencies with large outside R&D budgets are required to set aside 2.5 percent of the money for small firms. But in 2003 the SBA determined that a small firm in which venture capitalists owned more than 50 percent of the company no longer qualified for the money.

- read the report from the East Bay Business Journal

Massachusetts closer on biotech bill

John Carroll — Thu, 12 Jun 2008 11:20:58 -0400

Lawmakers in Massachusetts are edging ever closer to approving the state's ambitious $1 billion incentives program to help foster its thriving biotech industry. That gives Governor Deval Patrick just enough time to sign a new bill before flying off to the BIO meeting in San Diego. Report

Millipore touts its efforts to go green

Thu, 08 May 2008 06:59:54 -0400

The life sciences equipment maker Millipore is looking extra green today. The company announced plans to reduce its carbon footprint by 20 percent. To do that, the company plans to close some inefficient facilities and upgrade others so that they use less energy.

"Both individuals and companies have to do something" to cut pollution, Millipore CEO Martin Madaus told the Boston Globe. "It's not just the right thing to do. In many countries, it will be part of legislation."

- read the report in the Boston Globe

SPOTLIGHT: Patent bill bogs down

Mon, 24 Mar 2008 07:59:53 -0400

A patent reform bill being argued in Congress has drawn a significant amount of protest from the biotech industry. But with a wide array of groups looking to influence the legislation, including the White House, the bill appears to have stalled in a Senate committee. High-tech companies, meanwhile, have been actively pushing for its passage. Report

Bill could improve funding for small biotechs

Fri, 05 Oct 2007 06:59:55 -0400

In a victory for small biotech, the U.S. House passed a bill that allows small companies to be eligible for federal small-business programs even if they're majority-owned by VC firms. Biotechs can often go for a decade or more before marketing a product, and they rely on investment from VC firms to keep the company going through the early stages of drug development. However, by the time a biotech has a marketed drug, VCs can own a large chunk. This means that the small company isn't eligible for Small Business Innovation Research (SBIR) awards.

The new legislation will lift current restrictions, giving small biotechs access to SBIR awards as long as VC firms own less than half of the company. "Private investment in small business is a good thing and should be encouraged, not discouraged," said Rep. Sam Graves (R-MO), the bill's co-sponsor. However, among other concerns, critics say opening up SBIR awards to more established companies will make competition harder for small start-ups.

- read the Baltimore Business Journal article

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