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Maryland biotechs push for some stimulus cash
Colleagues,
As reported in Baltimore Business Journal ... Biotechnology companies in Maryland say there is $229 million in federal money that belongs in their pockets. And they are urging federal lawmakers to help them get it.
With $10.4 billion in additional funding, the National Institutes of Health was one of the biggest winners in the $787 billion federal stimulus package passed last month. But that pile of cash does not include an earmark for small business research grants, which means the money would likely go to academic research institutions.
Leaders of about a dozen Maryland biotech firms have convinced U.S. Sen. Benjamin Cardin, D-Md., to ask NIH leaders to set aside some money for small life sciences companies in the Small Business Innovation Research program ... Cardin sent the letter after biotech firms approached him and U.S. Sen. Barbara Mikulski, D-Md., urging that they support the issue. At least three U.S. senators have joined Cardin in the effort to recoup NIH funds, including U.S. Sen. Olympia Snowe, a Republican who represents Maine and is a ranking member of the Senate’s small business committee.
Small businesses say they need NIH to set aside money for them because they are typically at a disadvantage when competing for grants...NIH awards 2.5 percent of its grant dollars annually to early-stage life sciences companies through SBIR grants. The grants are the largest source of public funding for small biotech firms.
Maryland ranks No. 8 among states in the nation that receive SBIR grants, according to the U.S. Small Business Administration.
Read on at: http://medtechiq.ning.com/group/medicalangelsvcs/forum/topic/new?ta...
ENJOY!
CC
As reported in Baltimore Business Journal ... Biotechnology companies in Maryland say there is $229 million in federal money that belongs in their pockets. And they are urging federal lawmakers to help them get it.
With $10.4 billion in additional funding, the National Institutes of Health was one of the biggest winners in the $787 billion federal stimulus package passed last month. But that pile of cash does not include an earmark for small business research grants, which means the money would likely go to academic research institutions.
Leaders of about a dozen Maryland biotech firms have convinced U.S. Sen. Benjamin Cardin, D-Md., to ask NIH leaders to set aside some money for small life sciences companies in the Small Business Innovation Research program ... Cardin sent the letter after biotech firms approached him and U.S. Sen. Barbara Mikulski, D-Md., urging that they support the issue. At least three U.S. senators have joined Cardin in the effort to recoup NIH funds, including U.S. Sen. Olympia Snowe, a Republican who represents Maine and is a ranking member of the Senate’s small business committee.
Small businesses say they need NIH to set aside money for them because they are typically at a disadvantage when competing for grants...NIH awards 2.5 percent of its grant dollars annually to early-stage life sciences companies through SBIR grants. The grants are the largest source of public funding for small biotech firms.
Maryland ranks No. 8 among states in the nation that receive SBIR grants, according to the U.S. Small Business Administration.
Read on at: http://medtechiq.ning.com/group/medicalangelsvcs/forum/topic/new?ta...
ENJOY!
CC
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