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Biomedical Research Support: New Drugs and Therapies for Citizens

This act aims to accelerate the development of new drugs and therapies, especially in areas of unmet medical needs. Through the BioBonds program, companies and universities conducting clinical trials will be able to obtain funding, which may lead to the faster availability of innovative treatments for citizens.
Key points
A new BioBonds program will provide loans for clinical trials of drugs and medical devices intended to address unmet medical needs.
The U.S. government will guarantee up to 90% of the principal repayment of BioBonds, encouraging investors to fund innovative research.
The goal is to accelerate access to new, breakthrough therapies for patients who currently lack effective treatment options.
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Additional Information
Print number: 118_HR_7539
Sponsor: Rep. Fitzpatrick, Brian K. [R-PA-1]
Process start date: 2024-03-05
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

LOANS for Biomedical Research Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7539.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-03-05.

What are the main provisions?

Key points include:

  • A new BioBonds program will provide loans for clinical trials of drugs and medical devices intended to address unmet medical needs.
  • The U.S. government will guarantee up to 90% of the principal repayment of BioBonds, encouraging investors to fund innovative research.
  • The goal is to accelerate access to new, breakthrough therapies for patients who currently lack effective treatment options.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Fitzpatrick, Brian K. [R-PA-1].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Health.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Health Public Investments Economy