Article preview from "The Gray Sheet" - August 23, 2010
The Obama administration plans to ask Congress to authorize an independent strategic investment fund to provide financial support for small companies developing medical products that can be used to respond to bioterror attacks, pandemic flu outbreaks or other public health emergencies.
The Obama administration plans to ask Congress to authorize an independent strategic investment fund to provide financial support for small companies developing medical products that can be used to respond to bioterror attacks, pandemic flu outbreaks or other public health emergencies.
Venture HHS: Planned Gov't Fund For Emergency Products Elicits VC Caution
Article preview from "The Gray Sheet" - August 23, 2010
The plan, unveiled Aug. 19 as part of a Health and Human Services' 1 blueprint for accelerating the development of medical countermeasures, was met with a wariness from venture capitalists.
"Other agencies have tried this and have not been able to get it off the ground successfully," Mark Heesen, president of the National Venture Capital Association, said in an interview.
The government proposes to establish an "Independent Strategic
Investment Firm For Innovation in Medical Countermeasures" as a
501©(3) non-profit corporation, with an independent board of
directors, explained Anthony Fauci, director of the National
Institute of Allergy and Infectious Diseases.
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