Archive for: Healthcare Innovation

MCIT Pathway Will Spur Medical Innovation and Improve U.S. Healthcare

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FOR IMMEDIATE RELEASE
April 16, 2021

Contact: Devin Miller
Phone: 703-300-5232
Email: dmiller@nvca.org

WASHINGTON, DC – The National Venture Capital Association (NVCA) submitted comments today to the Centers for Medicare & Medicaid Services (CMS) on the delayed effective date of the Medicare Coverage of Innovative Technology (MCIT), a proposed coverage pathway for FDA-designated breakthrough devices. Originally slated to go into effect on March 15, the MCIT pathway seeks to resolve the significant challenges and uncertainties faced during the development of new products and devices, particularly in the earliest stages, and has the potential to bring major improvements to the U.S. healthcare system and encourage greater long-term investment.

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NVCA Supports CMS’ Proposed Medicare Coverage Pathway that will Advance Medical Innovation

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FOR IMMEDIATE RELEASE
November 2, 2020

Contact: Cassie Ann Kiggen
Phone: 202-864-5923
Email: ckiggen@nvca.org

WASHINGTON, DC – The National Venture Capital Association (NVCA) today expressed its strong support to the Centers for Medicare & Medicaid Services’ (CMS) proposal to establish the Medicare Coverage of Innovative Technology (MCIT) pathway. The MCIT would create a new coverage pathway for FDA-designated breakthrough devices, which would significantly improve the complex process of bringing innovative medical products to market. Venture investment in medical devices has decreased as a percentage of overall venture capital. Many medical device investors attribute this decline to the reimbursement landscape.

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Trump’s Executive Order on Drug Pricing Could Stymie New Healthcare Solutions

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FOR IMMEDIATE RELEASE
July 24, 2020

Contact: Cassie Ann Kiggen
Phone: 202-864-5923
Email: ckiggen@nvca.org

WASHINGTON, DC – The National Venture Capital Association (NVCA) today responded to President Trump’s executive order proposing an International Pricing Index, which would tie Medicare’s drug prices to those in other countries.

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NVCA Convenes VCs and Policymakers in DC for Annual Meeting

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WASHINGTON, DC – The National Venture Capital Association (NVCA) will convene tomorrow venture investors, policymakers and other stakeholders from the entrepreneurial ecosystem for two days of policy discussion and meetings to support new company creation at the NVCA Annual Meeting in Washington, DC.

“We are totally rewriting the script this year for the NVCA Annual Meeting to focus exclusively on policy and direct engagement with policymakers,” said Bobby Franklin, President and CEO of NVCA.  “We are bringing VCs to DC to so that the venture community can better understand how policymakers approach our policy issues and in turn how policymakers can better understand how the policies they are working on are impacting new company formation. Read more

NVCA Congratulates Dr. Gottlieb on His Nomination for FDA Commissioner Advancing to Senate

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WASHINGTON, DC – The National Venture Capital Association (NVCA) issued the following statement today after the Senate Committee on Health, Education, Labor and Pensions (HELP) voted to advance the nomination of Scott Gottlieb, M.D. for Commissioner of the Food and Drug Administration (FDA).  A Resident Fellow at the American Enterprise Institute (AEI), Gottlieb has deep experience in the venture industry, previously serving as a venture partner in life sciences startups at New Enterprise Associates (NEA).

“With Dr. Gottlieb’s nomination moving forward to the full Senate for confirmation, the FDA should very soon have a leader in place who has substantial experience and knowledge of the medical innovation ecosystem,” said Bobby Franklin, President and CEO of NVCA. Read more

NVCA Congratulates Dr. Gottlieb on Nomination for FDA Commissioner

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WASHINGTON, DC – The National Venture Capital Association (NVCA) issued the following statement today in support of the nomination of Scott Gottlieb, M.D. for Commissioner of the Food and Drug Administration (FDA).  A Resident Fellow at the American Enterprise Institute (AEI), Gottlieb has deep experience in the venture industry, having previously served as a venture partner in life sciences startups at New Enterprise Associates (NEA).

“Through his experiences in public service, as a practicing physician and as an investor in healthcare startups, Dr. Gottlieb has been on the front lines of medical innovation for decades,” said Bobby Franklin, President and CEO of NVCA.  Read more

NVCA Cheers President Obama Signing 21st Century Cures Act into Law

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WASHINGTON, DC – The National Venture Capital Association (NVCA) today issued the following statement after President Obama signed into law the 21st Century Cures Act.

“At long last this critical bill is cemented into law after passing both chambers of Congress and signed by the president.  Increasing funding for NIH, advancing precision medicine, and improving the environment for the development of life-saving drugs and treatments is critical to ensuring the U.S. remains the tip of the spear in developing breakthrough medical innovation,” said Bobby Franklin, President and CEO of NVCA.  Read more

NVCA Outlines Key Policies Priorities in Letter to Donald Trump

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Calls on President-Elect to Commit to Strong Entrepreneurship Agenda

WASHINGTON, DC – In a letter to President-elect Donald J. Trump today, the National Venture Capital Association (NVCA) outlined key policy priorities to strengthen venture capital and the entrepreneurial ecosystem.  Recognizing that the Trump campaign for president tapped into a belief that many pockets of the country have been left behind by the modern economy, NVCA called on the president-elect to commit to a strong entrepreneurship agenda as a way to build strong economies in all areas of our country. Read more

NVCA Praises House Passage of 21st Century Cures Act

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Additional Reform Needed to Support Venture Investment in Medical Innovation

WASHINGTON, DC – The National Venture Capital Association (NVCA) today issued the following statement after the House of Representatives passed the 21st Century Cures Act, sponsored by Rep. Fred Upton (R-MI), Chairman of the House Energy and Commerce Committee, and Energy and Commerce Committee Member Rep. Diana DeGette (D-CO).

“On behalf of our nation’s life science investors who since 2006 have collectively invested over $101 billion into 4,494 companies working on cutting edge medical innovation, we applaud passage in the House today of the 21st Century Cures Act,” said Bobby Franklin, President and CEO.  Read more

NVCA Cheers Provisions Included in Spending and Tax Package that Benefit Entrepreneurial Ecosystem

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WASHINGTON, DC – The National Venture Capital Association (NVCA) today issued the following statement after Congress passed the combined omnibus spending and tax extender package which includes a two-year suspension of the medical device tax and permanence for the 100% exclusion from capital gains taxes for Qualified Small Business Stock (QSBS).

“Since its inception, the medical device tax has been a massive drain on medical device innovation, but has been particularly acute to venture-backed medical device startups due to the imposition of the tax regardless of whether they make a profit or not,” said Bobby Franklin, President and CEO of NVCA. Read more

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