The LOANS for Biomedical Research Act: Boosting Medical Innovation
H.R. 7539, also known as the "Long-term Opportunities for Advancing New Studies for Biomedical Research Act" is a bill introduced in Congress to create a new way of funding important medical research.
Key Points:
Creates "BioBonds": The bill establishes a program where special bonds, called BioBonds, are sold to investors. The money from these bonds goes to fund clinical trials for new drugs and medical devices.
Focuses on Unmet Medical Needs: The research funded by BioBonds must address medical needs that currently lack effective treatments.
Government Backing: The U.S. Treasury would guarantee up to 90% of each BioBond, making them a safer investment and encouraging more funding for medical research.
Diverse Research: The program aims to support a wide range of biomedical projects, not favoring any single disease or disability.
Protects Taxpayers: The bill includes measures to protect taxpayer interests, such as reinvesting proceeds and giving the government priority in repayment.
Loan Limits: There's a $25 million per year limit on loans to any single recipient to ensure fair distribution of funds.
Why is it Important?
Addresses Funding Gaps
Accelerates Innovation
Tackles Unmet Needs
A creative approach to boosting medical research funding and accelerating development of new treatments.
