Patient Capital 3.0: Confronting the Crisis and Achieving the Promise
of Venture-Backed Medical Innovation
Posted: May 1, 2013
By: National Venture Capital Association
The National Venture Capital Association (NVCA) and the Medical Innovation and Competitiveness Coalition (MedIC) released Patient Capital 3.0: Confronting the Crisis and Achieving the Promise of Venture-Backed Medical Innovation at a Congressional briefing on Capitol Hill in Washington, D.C. The report, which is in its third release, highlights the contribution of venture capital to medical innovation and provides perspective on the current investment environment in the U.S. for life sciences. The report highlights the importance of protecting and fostering a business environment in which innovative medical startups can form and grow and cites that conditions must be conducive to investing in and building companies to develop novel drugs, devices and diagnostics. The report suggests that if we fail to sustain a supportive business environment for entrepreneurial medical companies, we risk choking off the flow of innovative treatments and cures to patients in need at a time when the number of such patients and the socioeconomic burden of disease continue to grow. The report also raises concern that the U.S. is at risk of losing its leadership in medical innovation which has generated high-quality jobs and growth for the U.S. economy. It examines the critical challenges venture-backed innovation now faces, and the role public policy can play in helping us overcome those challenges so that America will continue to lead the world in producing medical innovations that are critical to patients.
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