House ‘BioBond’ Bill Aims to Get Medical Research Back on Track

Biomedical companies and universities could jump-start clinical trials disrupted by the pandemic under a bipartisan House proposal to establish a new federally backed loan program.

Reps. Bobby L. Rush (D-Ill.) and Brian Fitzpatrick (R-Pa.) introduced legislation Friday that aims to boost “innovative biomedical research into therapies to address unmet medical needs,” according to a copy of the bill obtained in advance by Bloomberg Law. They modeled their proposal for “BioBonds” after green bonds, which are fixed-term loans to finance projects that will benefit the environment.

Companies and universities would be eligible for BioBonds under Rush’s proposal (H.R. 3437) if ...