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Published on Mar 30, 2012
In 2010, the Therapeutic Discovery Project (TDP) awarded $1 billion in tax credits to about 2,923 small biotechnology companies across the country to accelerate discovery of promising, cutting-edge cures to treat devastating diseases like cancer, heart disease, diabetes, and Alzheimer's.
BIO believes that the level of supportprovided by the TDP simply cannot meet the needs of the growing biotech field. As evidence of the project's popularity suggests, Congress should consider extending or expanding the project in order to support American innovation and speed the development of life-saving cures.