Navigation Links
Biocom Applauds Passage of Year-End Spending, Tax Legislation

SAN DIEGO, Dec. 18, 2015 /PRNewswire/ -- Today, Biocom, the association representing the Southern California life science community, applauded passage of a two-piece legislative package that funds the federal government for the remainder of fiscal year 2016 and reauthorizes critical tax incentives.

"Biocom commends Congress on passing bipartisan legislation that increases funding for the National Institutes of Health (NIH) and the Food and Drug Administration (FDA). The NIH budget has been flat for the past decade, undermining the development of potential new treatments and therapies for patients. Increasing NIH funding to $32 billion demonstrates a renewed commitment to supporting biomedical research and finding the cures of tomorrow," said Joe Panetta, president and CEO of Biocom.

"The legislation's tax component makes the research and development (R&D) tax credit permanent while expanding eligibility for pre-revenue startup companies, and extends credits that support the development of advanced biofuels and biorefineries. These provisions are essential to the sustainability and growth of our California's innovation ecosystem, by incentivizing investment in R&D and allowing companies to better plan for their development.

"The bill also suspends the medical device excise tax through 2017. The 2.3 percent tax on medical device sales, which took effect in 2013, is putting serious budget constraints on the medical technology community, especially small pre-revenue companies, and jeopardizing patient access to breakthrough devices and diagnostic therapies. Biocom has been advocating for a full repeal of the tax and welcomes this important first step," added Panetta.

About Biocom

Biocom is one of the largest regional life science associations in the world, representing 750 member companies in Southern California. The association focuses on initiatives that position the region's life science industry competitively on the world stage, and on the development and delivery of innovative products that improve health and quality of life. For more information on Biocom or the Southern California biotechnology and medical device community, please visit the organization's Web site at or call (858) 455-0300. Follow us on Facebook, LinkedIn, Instagram, and Twitter @BIOCOMCA.

Biocom Media Contact:
Heidi Chokeir
Canale Communications 
(619) 849-5377

Logo -


Copyright©2015 PR Newswire.
All rights reserved

Related medicine technology :

1. Biocom Announces 2013 DeviceFest & Expo Award Winners
2. Nelson Laboratories to Offer Free Biocompatibility Consultations During MEDevice Forum San Diego
3. Smith & Nephew Introduces Advanced Biocomposite Material for Use in Arthroscopic Surgery
4. Biocom CEO Joe Panetta Appointed to California Institute for Regenerative Medicines Independent Citizens Oversight Committee by Governor Jerry Brown
5. Biocom Applauds House Passage of Legislation Repealing the Medical Device Tax
6. Lupin Acquires Biocom in Russia
7. Lupin adquiere Biocom en Rusia
8. Lupin übernimmt Biocom aus Russland
9. Biocom Applauds Passage of 21st Century Cures Act
10. Biocom Applauds Creation of Congressional Life Science Caucus
11. CHPA Applauds Nevadas Adoption of Assembly Bill 39
Post Your Comments:
(Date:10/8/2019)... (PRWEB) , ... October 08, 2019 , ... ... participated in an advanced dental implant seminar to enhance his skill and knowledge ... country, The Implant Dentistry Continuum™ is a four-part series of classes that combines ...
(Date:10/8/2019)... FRESNO, Calif. (PRWEB) , ... October 08, 2019 , ... ... the 2020 Donate Life Rose Parade® Float living donor honoree. Regina will walk alongside ... New Year’s Day. , Regina, a retired nurse and attorney, became a living organ ...
(Date:10/8/2019)... ... 2019 , ... Four things to know: , 1. The Hive™ ALIF interbody ... through the lattice core. , 2. The Soft Titanium® lattice of HD ... bone growth throughout the implant. , 3. The Hive™ ALIF device can hold over ...
Breaking Medicine Technology:
(Date:10/10/2019)... ... October 10, 2019 , ... Santa ... (IT) services for the healthcare industry, has completed the first phase of a ... the Commonwealth of The Bahamas towards a fully integrated health information management system ...
(Date:10/8/2019)... ... October 08, 2019 , ... SoCal Adolescent Wellness announces the opening of ... expansion of our services to better serve the families in Orange County," said Becca ... to see the extraordinary impact this pre-intervention program has on the lives of the ...
(Date:10/8/2019)... ... October 08, 2019 , ... ... in live samples, Meiqing Shi, associate professor with the University of Maryland Department ... latest paper published in Nature Communications, Shi and his lab have discovered a ...
(Date:10/8/2019)... ... ... Smile Brands Inc. has been named one of the happiest companies in ... dental support organization with nearly 440 affiliated practices across 18 states, has a deeply ... Award is the latest in a series of accolades the company has ...
(Date:10/8/2019)... ... October 08, 2019 , ... Fewer than 50 percent of ... reproducible. Rigor in bioanalytical method validation is emerging in the form of a ... of the time) and senior scientists add the management of an offshore team ...
Breaking Medicine News(10 mins):