Tech Council of Maryland/MdBio, Inc. Pursues Legislative Agenda to Encourage Investment and Foster Positive Regulatory Environment for Biotech Innovation
Published: Oct 04, 2011
ROCKVILLE, MD--(Marketwire - October 04, 2011) - The Tech Council of Maryland (TCM), Maryland's largest technology and biotechnology association with nearly 500 members employing more than 250,000 in the region, announced that it has adopted the strategic legislative plan of, and work in conjunction with, the Biotechnology Industry Organization (BIO) to promote policies for fostering greater biotech innovation across the United States. TCM's MdBio division board of directors recently affirmed support of BIO's legislative proposals, and committed to work with lawmakers representing Maryland to advance these initiatives in Washington.
These legislative proposals, introduced by BIO at its annual convention in D.C. earlier this year, are designed to speed scientific breakthroughs, promote development of cures and grow the overall bio-economy and jobs through a series of tax credits, investment incentives, grants and improvements in processes at the U.S. Food and Drug Administration (FDA) that would advance biotech innovations.
"Because of our proximity to Washington, D.C., our successful efforts to create a strong biotech community in Maryland and our close affiliation with BIO, it makes perfect sense for us to advocate on the federal level together for changes to laws and regulations that would spur the investment and innovation to maintain the leadership of our country," said Renée Winsky, CEO of TCM. "The proposals set forth by BIO will have a direct impact on creating jobs, spurring large-scale economic development and finding cures that are desperately needed."
"Our comprehensive set of proposals address two vital policy needs for ensuring robust biotechnology innovation and industry growth: the need to re-engineer the biotech economic model, and the need to re-invent the idea-to-market pathway for biotech cures and other products," said Jim Greenwood, BIO's president and CEO. "By making these changes we will help cure diseases and save lives. In fact, our proposals are designed to help people lead not only longer lives -- but healthier, happier more productive lives. BIO is thrilled to have the support of TCM's MdBio division in advocating for legislation and other federal programs to address these needs."
"BIO has set forth a strong set of proposals that are in line with the goals and initiatives we have in place here in Maryland," said Douglas A. Doerfler, Chairman of MdBio, a division of TCM, and president and CEO of MaxCyte. "We believe the changes that BIO has recommended will provide opportunities to biotech businesses in Maryland, and create a more vibrant environment in which biotech companies across the nation can collaborate and grow."
BIO's legislative proposals can be found online in "Unleashing the Promise of Biotechnology: Advancing American Innovation to Cure Disease and Save Lives."
BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIO produces BIOtechNOW, an online portal and monthly newsletter chronicling "innovations transforming our world." For more information, visit www.bio.org.
ABOUT THE TECH COUNCIL OF MARYLAND, INC.
The Tech Council of Maryland (TCM) is the largest technology trade group serving the advanced technology and biotechnology communities of Maryland. TCM's mission is to advocate for the interests of the technology community, further the role of technology in the Maryland economy, and nurture an environment where technology companies can collaborate, grow and succeed. For more information, visit www.techcouncilmd.com.
Wills & Associates Public Relations