Like Wile E. Coyote grasping an anvil and waiting for the ever-elusive roadrunner, biotech startups must have a sinking feeling while standing on the edge of the fiscal cliff.
The federal budget “fix” — if it actually happens — would automatically slash the National Institutes of Health budget, which supports basic research that often underpins commercial drugs, diagnostics and devices, and presumably obliterate funding for Small Business Innovation Research grants. Those SBIR funds often are tapped by incubating life sciences companies as a bridge to proof-of-concept stage and venture capital funding.
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