118th Congress · HOUSE BILLBILL

H.R. 7539 — LOANS for Biomedical Research Act

“To require the Secretary of the Treasury to guarantee BioBonds in order to provide funding for loans to eligible biomedical companies and universities to carry out clinical trials approved by the Food and Drug Administration, and for other purposes.”

Health

Introduced Mar 5, 2024

Last action Mar 8, 2024

Pipeline · Bill → Law

Step 1

Introduced

Mar 5, 2024

Step 2

Referred

Mar 8, 2024

E&C

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

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...

Provisions · 8 sectionsIntroduced in House

Timeline · 3 actions

Mar 8, 2024

Referred to the Subcommittee on Health.

Mar 5, 2024

Introduced in House

Mar 5, 2024

Referred to the House Committee on Energy and Commerce.