Biotech Business

BIO Urges Congress to Allow More Companies to Compete for SBIR Grants

Published in Healthcare Mergers, Acquisitions and Ventures Week, May 19th, 2007

Dr. Gary McGarrity, Executive Vice President of Scientific and Clinical Affairs at VIRxSYS, testified today on behalf of the Biotechnology Industry Organization (BIO) before the House Science and Technology Subcommittee on Technology and Innovation regarding the reauthorization of the Small Business Innovation Research (SBIR) program. McGarrity advocated for allowing small companies to compete for SBIR grants regardless of their capital structure.

For more than 20 years, small biotech companies were able to compete for SBIR grants until an arbitrary Small Business Administration interpretation of SBIR eligibility standards in 2003 effectively excluded many biotech...

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Source: Healthcare Mergers, Acquisitions and Ventures Week (2007-05-19)

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