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Small Biotech Innovation Act
9/24/2024, 4:38 AM
Summary of Bill S 5029
Bill 118 s 5029, also known as the Small Biotech Innovation Act, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to support and promote innovation in the biotechnology industry, particularly for small and emerging biotech companies.
One of the key provisions of the Small Biotech Innovation Act is the establishment of a grant program to provide funding for research and development projects conducted by small biotech companies. These grants would help these companies to develop new technologies, treatments, and therapies that could have a significant impact on public health.
Additionally, the bill includes measures to streamline the regulatory process for small biotech companies, making it easier for them to bring their products to market. This would help to reduce the barriers that these companies face in getting their innovations into the hands of patients who could benefit from them. Overall, the Small Biotech Innovation Act aims to foster a more supportive environment for small biotech companies, encouraging innovation and growth in this important sector of the economy. By providing funding and regulatory support, this bill has the potential to spur the development of new and groundbreaking technologies that could improve the lives of countless individuals.
One of the key provisions of the Small Biotech Innovation Act is the establishment of a grant program to provide funding for research and development projects conducted by small biotech companies. These grants would help these companies to develop new technologies, treatments, and therapies that could have a significant impact on public health.
Additionally, the bill includes measures to streamline the regulatory process for small biotech companies, making it easier for them to bring their products to market. This would help to reduce the barriers that these companies face in getting their innovations into the hands of patients who could benefit from them. Overall, the Small Biotech Innovation Act aims to foster a more supportive environment for small biotech companies, encouraging innovation and growth in this important sector of the economy. By providing funding and regulatory support, this bill has the potential to spur the development of new and groundbreaking technologies that could improve the lives of countless individuals.
Read the Full Bill
Current Status of Bill S 5029
Bill S 5029 is currently in the status of Bill Introduced since September 12, 2024. Bill S 5029 was introduced during Congress 118 and was introduced to the Senate on September 12, 2024. Bill S 5029's most recent activity was Read twice and referred to the Committee on Finance. as of September 12, 2024
Bipartisan Support of Bill S 5029
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 5029
Primary Policy Focus
Alternate Title(s) of Bill S 5029
Small Biotech Innovation Act
Small Biotech Innovation Act
A bill to amend title XI of the Social Security Act to establish a research and development-intensive small biotech manufacturer exception from the Medicare drug price negotiation program.
Comments
Sponsors and Cosponsors of S 5029
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