The National Venture Capital Association, its member venture capital firms and life sciences companies are teaming up to form a coalition that will advocate in Washington, D.C., for policies and regulations that advance medical innovation in the U.S.
The Medical Innovation and Competitiveness (MedIC) Coalition has three key goals, according to the NVCA, including promoting medical innovation while the nation implements healthcare reform; establishing new and preserving existing incentives for investors and entrepreneurs in the medical fields; and achieving reform of the U.S. Food and Drug Administration.
Beth Seidenberg, chairperson of MedIC and a general partner of Kleiner Perkins Caufield & Byers, said in a press release, “MedIC will address the rising concern that the U.S. is at risk of losing our leadership position in innovation and job creation due to increasing uncertainty in the regulatory and reimbursement processes, healthcare reform implementation and the capital markets. If we don’t act now, our increasingly formidable global competitors will.”
New England participants in MedIC include David Schenkein, CEO of Agios Pharmaceuticals Inc. of Cambridge, and Terry McGuire, co-founder and general partner of Polaris Venture Partners in Waltham.