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$20 million slush fund for biotech comes at expense of biohazard preparedness
The Senate Appropriations Committee has created a $20 million fund for Health and Human Services Secretary Kathleen Sebelius to invest in biotech startups, shifting money to a program that some say resembles the Department of Energy’s controversial loan guarantees.
The Strategic Investor initiative allocates $20 million to “allow the Federal Government to partner with small biotechnology companies in order to foster and accelerate the generation of novel medical countermeasures and technologies,” according to the Senate Appropriations Committee.
“That money is coming at the direct expense of funding that would directly fund anti-terrorism preparedness measures,” said a source familiar with the biotech industry. [story continues with details]
I wonder what "alternative capital market mechanisms" could possibly be
The Senate appropriation is far less than the amount Sebelius requested. She proposed the Strategic Investor initiative in a September 2010 HHS report that requested $200 million to “explore alternative capital market mechanisms.”