That the House of Representatives—
recognizes the importance of transformative breakthroughs in biomedicine, biotechnology, and life sciences in the diagnosis, management, curing, and treatment of illness;
recognizes the need for bipartisan reform of the Food and Drug Administration (FDA) in order to facilitate expeditious approval of safe and effective new products, better outcomes for patients, and more efficient and effective uses of FDA’s limited resources;
recognizes the existence of a “Valley of Death” in biomedicine, biotechnology, and life sciences funding, a steadily widening funding and resource gap that currently exists between basic research and clinical development, effectively limiting the field of potential novel therapies and drugs for patients; and
recognizes innovative financial structures can achieve the necessary grand scale of capital needed to support translational research and development in biomedicine, biotechnology, and life sciences.