FEDERAL LEGISLATION COULD RESTORE BIOTECH FUNDING

A U.S. Senate committee has boosted the biotechnology industry's hope that legislation will soon again allow many venture-backed companies to win research grants set aside for small businesses. The venture capital and biotechnology industries have aggressively lobbied for legislation to reverse a 2003 U.S. Small Business Administration ruling that companies with 51 percent or more ownership by venture investors did not qualify as small businesses and were ineligible to receive Small Business Innovation Research grants.
San Francisco Business Times