Venture Capitalists push FDA Reform on Capitol Hill
POSTED ON 10/8/2011 IN Industry News BY Christopher Centeno
In a recent survey of venture capital firms, many say they are investing fewer dollars in biotechnology drugs and devices because of an unpredictable and risk adverse FDA. The companies took their case for FDA reform to Capitol Hill this week engaging Senators in the debate. From the Venture Capital Dispatch... Venture capitalists are beginning to steer their investment dollars away from fledgling pharmaceutical and medical device companies, a phenomenon that will drive jobs and promising treatments overseas, according to a new survey of life sciences investors. The chief reason, according to most of the 156 venture firms surveyed, is dysfunction at the Food and Drug Administration, an agency investors say is so unpredictable and risk-averse that young companies are now inclined to merely give up on trying to get on the market in the U.S. Read more...
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