NVCA Applauds Unanimous Approval of 21st Century Cures Act by House Energy and Commerce Committee

WASHINGTON, DC – The National Venture Capital Association (NVCA) today issued the following statement after the House Energy and Commerce Committee unanimously approved the 21st Century Cures Act by a vote of 51-0.

“On behalf of NVCA and our nearly 400 members, I applaud Chairman Upton, Ranking Member Pallone and all members of the House Energy and Commerce Committee for this momentous vote.  By taking this important first step, you are doing much to improve the environment for medical development in the U.S. and in so doing ensuring that we remain the global hub of medical innovation,” said Bobby Franklin, President and CEO of NVCA.

“Despite all the positive aspects of the bill, we are disappointed that the committee didn’t adopt some of our recommended changes to develop coverage and payment policies that reward investment in medical innovations.  As the legislative process moves forward, we hope to rectify this shortcoming by working with lawmakers to impress upon them the importance of doing all we can to encourage investment in medical innovation so that medical startups have all the resources they need to continue developing lifesaving treatments and cures.”