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Apr 28, 2014
 |  BioCentury  |  Finance

Letter to BioCentury: BIO on capital access

Letter to BioCentury: BIO initiatives to improve access to the capital markets

The Biotechnology Industry Organization (BIO) is a strong supporter of effective capital markets, and we hope the April 14 guest commentary, "Reducing the Burden of Disclosure," will draw attention to these important issues. It is critically important for innovative biotechnology companies that do not yet have product revenue to focus investor dollars on the search for cures and breakthrough medicines rather than divert these funds for cumbersome disclosure requirements.

We were very supportive of the Jumpstart Our Business Startups (JOBS) Act, and continue to be deeply engaged in its implementation. In the two years since its passage, more than 80 biotech companies have gone public using provisions included within the JOBS Act.

The JOBS Act allows enhanced access to investors, increasing the capital potential of an offering, and institutes a commonsense regulatory burden, decreasing the amount of capital diverted from R&D. This one-two punch is critical for biotech innovators and has increased the viability of the market for growing companies looking to continue to advance their capital-intensive development programs.

We are currently engaging with the Securities and Exchange Commission, Congress, and the Public Company Accounting Oversight Board (PCAOB) to implement and build...

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