Posted by Michael Wonder on 10 Dec 2019
Investors fear Pelosi’s drug price plan will kill small biotech firms
10 December 2019 - Private equity investors are lobbying against Nancy Pelosi’s drug pricing bill.
Private equity investors are lobbying against Nancy Pelosi’s sweeping drug pricing bill, telling her legislative aides in a series of private meetings in recent weeks that the plan would dry up financing for small biotech companies.
A group of venture capitalists, including Peter Kolchinsky of RA Capital Management, Johannes Fruehauf of BioInnovation Capital and Sara Nayeem of New Enterprise Associates, met with Pelosi’s staff as well as moderate House and Senate Democrats on Oct. 29 to discuss their concerns. The investors have had follow-up meetings since, according to John Stanford, executive director of venture capital advocacy group Incubate and attended the meetings.
