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Senate Caucus to Focus on Bio-Tech, Life Sciences
HARRISBURG -- A
special Senate Caucus on Bio-Technology/Life Sciences reflects the growing role
that those businesses play in the Commonwealth’s economy, according to Senator
Robert J. Thompson, R-19th District, who chairs the caucus.
“Bio-technology and life
sciences are in the top tier of businesses that we are promoting in Pennsylvania
and for good reasons. These businesses currently employ more than 80,000
Pennsylvanians and are laying the groundwork for a path to prosperity that we as
a region and a state can follow for decades to come,” said Senator Thompson.
“I am proud to lead this
caucus which will address issues of importance to the biotechnology and life
sciences community,” Senator Thompson continued. “The strength of the industry
is seen across the Commonwealth, and we look forward to working on the policy
initiatives that will support continued growth.”
Pennsylvania is widely
recognized as a policy leader in innovative programs that will support the
development of therapies, devices, diagnostics and vaccines to treat patients
who suffer from debilitating conditions.
The tobacco settlement
legislation of 2001 created three regionally based life sciences greenhouses,
which have become a national model for state funding of early-stage risk capital
in the life sciences; a venture program investing $70 million in venture capital
investments specifically for the life sciences that is yielding a 3-to-1 private
sector match for the Commonwealth’s commitment; and the Commonwealth Universal
Research Enhancement (CURE) Program that supports R&D projects at Pennsylvania’s
world-class research institutions.
In addition, Pennsylvania has
recently expanded the R&D tax credit, adding a tradability provision, and has
implemented other initiatives that will help sustain the growth of the life
sciences industry.
“We applaud the Pennsylvania
Senate for its recognition of the importance of this industry, and we look
forward to working with Senator Thompson and the other members of this caucus on
the important issues facing this industry,” said Fritz Bittenbender, president
of Pennsylvania Bio, the statewide trade association representing Pennsylvania’s
biosciences community. “Pennsylvania is a global leader in the life sciences.
The companies, research institutions and support organizations that comprise
Pennsylvania’s life science community will not only fundamentally improve
healthcare for millions of patients globally, but are the cornerstone of
Pennsylvania’s economic future.
“This caucus is yet one more example of
Pennsylvania’s leadership,” Bittenbender continued. “Senator Thompson has a
long record of support for this industry and we know that Pennsylvania will be
even stronger as a location for these innovative companies through the work of
this caucus.”
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