Venture Capitalists Launch Lobby for Life Science Innovation
BY LAUREN UZDIENSKI, SEPTEMBER 14, 2010
The National Venture Capital Association announced this week the launch of the Medical Innovation and Competitiveness (MedIC) Coalition, a new healthcare lobby dedicated to furthering U.S. medical innovation and "[protecting] the country's global leadership position in the life sciences industry."
The Coalition specified three primary goals: preserving innovation as the country implements healthcare reform, which would include the appointment of a Medical Innovation Czar; establishing and protecting incentives for investors and entrepreneurs to develop and commercialize innovative technologies in the U.S.; and driving FDA reform, with objectives including developing a fast-track program for novel technologies and "improving the quality, predictability and staffing within CDRH."
On its website, the lobby does not name its members, but the steering and advisory panels include representatives from Kleiner Perkins Caufield & Byers, the Vertical Group and Warburg Pincus, as well as Richard Mott, the former CEO of Kyphon.
Membership is open to VC firms and their portfolio companies.
