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LOANS for Biomedical Research Act

H.R. 7539 Rep. Brian Fitzpatrick (R-PA-1) In committee
Bill text PDF
  1. Introduced Mar 5
  2. Committee Mar 5
  3. Passed House Next
  4. Passed Senate Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Mar 5, 2024Next: House vote
964d ago Mar 8, 2024: Referred to the Subcommittee on Health.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
1company, 5 filings
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Summary

Long-term Opportunities for Advancing New Studies for Biomedical Research Act or the LOANS for Biomedical Research Act

Full summary3 paragraphs

This bill requires the Department of the Treasury to establish the BioBonds Program to support loans for clinical trials for eligible drugs and medical devices for unmet medical needs.

Under the program, fiscal agents purchase loans (up to $25 million per recipient) and issue collateralized bonds that are sold to investors and that are guaranteed by Treasury. An eligible borrower under this program is one conducting (or seeking to conduct) research related to a drug or device that is (1) intended to meet an unmet medical need; and (2) under investigation in certain types of controlled clinical trials, including a trial to investigate the safety and effectiveness of the drug or device.

The Government Accountability Office (GAO) and Treasury must report on the program; GAO must also study whether similar programs should be established for other biomedical research projects.

Library of Congress summary, Mar 5, 2024

Summary versions
  • Introduced in HouseMar 5, 2024

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 28, 2026.