,,iv  #aac? ,,congress  #b;d ,session   
,h4 ,,res4 #gji  ,,9 ,,! ,,h\se ,,(     
,,repres5tatives  ,july #ca1 #bjad ,mr4 
,v>gas 7= himself1 ,mr4 ,rodney ,davis (
 ,ill9ois1 ,mr4 ,d5ham1 ,mr4 ,honda1    
,mr4 ,ru%1 & ,ms4 ,matsui7 submitt$ !   
foll[+ resolution2 :i* 0 ref]r$ to !    
,committee on ,en]gy & ,comm]ce         
,,resolution  ,recogniz+ ! importance ( 
trans=mative break?r\ghs 9 biom$ic9e1   
biote*nology1 & life sci5ces 9 !        
diagnosis1 managem5t1 cur+1 & treatm5t (
 illness & ! exi/5ce ( a ,valley ( ,dea?
 9 biote*nology & life sci5ces fund+ t  
/ifles innovation & imp$es translational
 m$ical rese>*4  ,:]eas canc]1 r>e &    
orphan diseases1 diabetes1 & ,alzheim]'s
 are j a few ( a gr[+ numb] ( l>ge-scale
 *all5ges confront+ mod]n society t c be
 address$ only ?r\gh ! su/a9$           
collaboration ( ?\s&s ( highly skill$1  
d$icat$1 & indep5d5t individuals ov] _m 
ye>s2 ,:]eas _m promis+ break?r\ghs h   
occurr$ 9 biom$ic9e 9 rec5t ye>s1       
includ+ g5e !rapies1 molecul>ly t>get$  

drugs1 new modes ( m$ical imag+ &       
radiosurg]y1 biom>k]s = drug response1  
human g5ome sequ5c+1 & advances 9       
bio9=matics t enabl$ _m ( ^! new        
applications2 ,:]eas biom$ic9e is f> m  
advanc$ today ?an ev5 a decade ago is   
indisputable1 b break?r\ghs require ye>s
 ( translational rese>* at a co/ (      
hundr$s ( millions ( doll>s & h a       
sub/antial likelihood ( failure2 ,:]eas 
! drug developm5t pipel9e is lad5 )     
unfavorable probabilities2 ,:]eas = e   
#e1jjj to #aj1jjj comp\nds t ent] ! drug
 discov]y pipel9e1 j #bej progress to   
precl9ical developm5t1 & only "o w      
become an approv$ drug2 ,:]eas !        
aggregate rese>* & developm5t budget ( !
 ph>maceutical indu/ry has ne>ly d\bl$ f
 #fh1jjj1jjj1jjj 9 #bjjb to             
#abg1jjj1jjj1jjj 9 #bjaj1 !re has be5   
little appreciable impact on ! numb] (  
new drugs approv$2 ,:]eas ,congress mu/ 
"w 9 a bip>tisan fa%ion to re=m ! ,food 
& ,drug ,adm9i/ration's 7,,fda7 review  
process = drug developm5t & biom$ical   

innovation 9 ord] to facilitate         
exp$iti\s approval ( safe & effective   
new products1 bett] outcomes = pati5ts1 
& m effici5t & effective uses ( ,,fda's 
limit$ res\rces2 ,:]eas biom$ical       
innovation has become mu* m *all5g+ to  
f9ance ) private & public equity2 ,:]eas
 !re is a gr[+ conc]n )9 & outside !    
indu/ry t ! process ( translat+         
biom$ical rese>* into effective         
treatm5ts is obsolete2 ,:]eas biote* &  
life sci5ces traditional f9anc+ vehicles
 ( private & public equity are becom+   
less effective fund+ s\rces because !   
ne$s & expectations ( limit$ p>tn]s &   
%>ehold]s are n consi/5t ) ! increas+   
complexity & risk ( biom$ical           
innovation2 ,:]eas ! l5g?y process (    
biom$ical innovation is becom+          
increas+ly complex1 exp5sive1 unc]ta91 &
 fraught ) conflict+ motivations &      
public-policy implications2 ,:]eas      
indu/ry pr(essionals frequ5tly ref] to !
 ,valley ( ,dea?1 a /eadily wid5+ fund+ 
& res\rce gap t curr5tly exi/s betwe5   

basic rese>* & cl9ical developm5t1      
effectively limit+ ! field ( pot5tial   
novel !rapies1 te*nologies1 & treatm5ts 
= pati5ts2 ,:]eas ! life sci5ces indu/ry
 ne$s novel approa*es to e>ly-/age drug 
developm5t t bett] manage risk1 l[]     
capital co/1 improve rese>*             
effectiv5ess1 create div]se portfolios1 
lev]age risk-tol]ant capital1 & access  
new capital s\rces2 & ,:]eas innovative 
f9ancial /ructures c a*ieve ! necess>y  
gr& scale ( capital ne$$ to support     
effective div]sification ( biote*       
inve/m5ts & create /able & attractive   
inve/m5t opportunities along !          
developm5t pipel9e3 ,n[1 !re=e1 be x  ,t
 ! ,h\se ( ,repres5tatives--  7#a7      
recognizes ! importance ( trans=mative  
break?r\ghs 9 biom$ic9e1 biote*nology1 &
 life sci5ces 9 ! diagnosis1 managem5t1 
cur+1 & treatm5t ( illness2  7#b7       
recognizes ! ne$ = bip>tisan re=m ( !   
,food & ,drug ,adm9i/ration 7,,fda7 9   
ord] to facilitate exp$iti\s approval ( 
safe & effective new products1 bett]    

outcomes = pati5ts1 & m effici5t &      
effective uses ( ,,fda's limit$         
res\rces2  7#c7 recognizes ! exi/5ce ( a
 ,valley ( ,dea? 9 biom$ic9e1           
biote*nology1 & life sci5ces fund+1 a   
/eadily wid5+ fund+ & res\rce gap t     
curr5tly exi/s betwe5 basic rese>* &    
cl9ical developm5t1 effectively limit+ !
 field ( pot5tial novel !rapies & drugs 
= pati5ts2 &  7#d7 recognizes innovative
 f9ancial /ructures c a*ieve ! necess>y 
gr& scale ( capital ne$$ to support     
translational rese>* & developm5t 9     
biom$ic9e1 biote*nology1 & life sci5ces4