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Republicans reach deal on Cures Act, but Democrats pushing for changes

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House and Senate leaders announced late Friday night that they had finally hammered out a deal on landmark legislation designed to speed federal approval of new drugs and devices and boost funding of medical research.

But what Republican lawmakers call the “final” version of the 21st Century Cures Act is actually still in negotiation with Senate Democrats, a senior Democratic aide told STAT on Sunday.

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21st Century Cures Bill Released – Energy and Commerce Committee

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House and Senate health committee leaders have released the final “21st Century Cures” bill and announced that the House of Representatives will vote Wednesday on a $6.3 Billion landmark medical innovation package that will accelerate the discovery, development, and delivery of new cures and treatments and provide new funding for the National Institutes of Health and Food and Drug Administration. The leaders said the House would also vote Wednesday to include in the Cures bill legislation that updates major mental health programs for the first time in a decade. The new funding includes $1 billion in state grants to fight opioid abuse.

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Immunomic Therapeutics Announces Expansion of IP Portfolio

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Immunomic Therapeutics, Inc. (ITI), a privately-held, Maryland-based biotechnology company, today announced the issuance of a new United States Patent which extends ITI’s intellectual property portfolio covering their proprietary vectors, including ITI’s out-licensed investigational DNA vaccines. Specifically, U.S. Patent No. 9,499,589 (‘589 Patent) issued on November 22, 2016, entitled “Chimeric Vaccines.”

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CENTER FOR BIOTECHNOLOGY AWARDED $500K U.S. DEPARTMENT OF COMMERCE GRANT – Center for Biotechnology – Stony Brook University

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The i6 Challenge award sets aim on enhancing Long Island Bioscience Ecosystem

The Center for Biotechnology at Stony Brook University has announced that is has received a three-year, $500,000 U.S. Department of Commerce i6 Challenge Investment. The award will support the Center for Biotechnology’s (CFB) efforts to bolster the regional bioscience ecosystem by supporting a formal mentorship program, as well as a critical NIH-focused SBIR/STTR training and application development program which will assist in capital formation and launching new companies.

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Biotech Venture Capital Mythbusting Redux

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Venture capital has been on a good run over the past few years across a range of sectors; even with recent slowdown relative to 2014-2015, venture-backed investments remain above historic averages. In fact, the first three quarters of 2016 alone are already higher than the annual rate of venture investing in all but two years since 2002.

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