https://www.businesswire.com/news/home/20180717006059/en/

WASHINGTON--(BUSINESS WIRE)--Jul 17, 2018--Today, the Biotechnology Innovation Organization (BIO) applauds the passage by the House of Representatives of the JOBS and Investor Confidence Act of 2018 (S. 488), or JOBS Act 3.0, in a widely bipartisan vote of 406-4. This legislation, which includes the Fostering Innovation Act (H.R. 1645), would significantly improve the ability of emerging biotech companies to invest their capital in the drug discovery process.

“House passage of the JOBS Act 3.0 is a tremendous step forward for small, pre-revenue innovators. If enacted, this legislation would allow these companies to invest more of their limited resources into advancing meaningful biomedical research, rather than complying with costly and unnecessary regulatory requirements,” said BIO President and CEO Jim Greenwood. “Thanks to the leadership of Financial Services Committee Chairman Hensarling and Ranking Member Waters, today’s vote demonstrates that it is a bipartisan priority to undertake meaningful regulatory reform to advance innovation and the efficiency of public capital markets.”