Biden's Bill of Rights proposal would undermine 40 years of policy and put life-saving innovation at risk

“There are proposals in Congress that pose a direct threat to innovation across a wide range of industries, including healthcare, defense, computer science, infrastructure, green technology, quantum computing, semiconductors, and agriculture. If enacted, these proposals could undermine one of the most economically impactful pieces of legislation in American history and cause irreparable harm to the nation's innovation landscape and to American businesses, workers, and consumers.”

The proposal currently under consideration in Congress is called the “Draft Interagency Guidance Framework for Considering the Exercise of March in Right.” This proposal would undermine the spirit of the bipartisan Bayh-Dole Act.

While this proposal was designed to lower drug prices domestically, its ultimate impact is open to debate. What this proposal would do is severely undermine critical research and development across American industries and threaten the survival of the world’s most powerful innovation economy. If successful, this proposal could destroy thousands of small businesses, undermine venture capital investment, worsen the investment climate across the United States, and, importantly, eliminate thousands of high-paying, skilled jobs across the country. If enacted, this proposal would provide significant benefits to other countries and diminish our nation’s reputation as a global leader in innovation. Moreover, it makes no sense for the federal government to enact policies that stifle technology-based economic growth while simultaneously investing in initiatives such as EDA Tech Hubs, ARPA-H, and CHIPS, all of which are essential to fostering timely and critical innovation across industries.

The Bayh-Dole Act, enacted more than 40 years ago, has helped foster the unique public-private partnerships that have made the United States a world leader in the production of life-saving medicines and other innovative technologies. The act encourages the private sector to license inventions that result from early-stage government-funded research and further develop those inventions into useful products, such as turning a research concept demonstrated in an NSF grant into a life-saving medical technology. By allowing grant recipients, such as universities, to retain patent rights covering their inventions and license them to private sector partners, the act has fostered the development of important, life-changing medical procedures and other advances. Revenues from licensing patents also serve as an important source of income for the research institutions that acquired the patents.

When COVID-19 hit, it was because of the Bayh-Dole Act that we were able to respond so quickly to the pandemic. It created a licensing pathway and a market case to get mRNA out of the lab and onto the market. We were able to do so because of the trust that was built through the Bayh-Dole Act. If this proposition passes, you have to ask why companies would be incentivized to continue cutting-edge research and developing treatments.

We have been down this path before, with disastrous results: the imposition of “fair price” conditions on Cooperative Research and Development Agreements (CRADAs) in 1989 severely chilled cooperation between the public and private sectors. This policy was ultimately repealed in 1995 because it alienated industry from beneficial scientific collaborations without benefiting the public.

If Bayh-Dole is not maintained in its current form, American patents will not lead the world, but will remain on the shelves gathering dust, just as they did a century ago before Bayh-Dole was enacted. Innovation without application is useless. As one report put it:

“At one time the government held approximately 30,000 patents, but less than 5 percent of those were licensed to companies for commercialization. The act has increased America's economic output by nearly $2 trillion, supporting more than 6 million jobs in the process. “More than 15,000 innovative start-ups have been born thanks to the Bayh-Dole Act and the public-private collaboration it encourages.

It also robs the country of vibrant, sustainable economic activity. On a micro level, businesses supported by UC Science Center have an estimated economic impact of $7.6 billion annually in the Greater Philadelphia region alone, supporting more than 29,100 full-time equivalent jobs with $2.6 billion in employee compensation. The 60-year-old nonprofit organization also generates an estimated $171.5 million in combined tax revenues annually for the State of Pennsylvania and the City of Philadelphia.

The draft guidance framework, currently under development, could deal a dramatic blow to the Science Center's influence and the 700 technology companies it has supported over the years. It's just one example of the hundreds of companies and thousands of technologies that are at risk. Domestic chipmakers could be sidelined at a time when shortages are reducing manufacturing capacity. It could also sideline an effort focused on neural devices, called “BRAIN.”

It is important that we maintain the unique public-private partnership framework that drives innovation in our country by keeping the Bayh-Dole Act intact. This law encourages investment, fosters collaboration, and ensures that the American people benefit from innovation, including medical advances, that improve the lives of millions of Americans.

We urge our Congressional representatives to support the Buy-A-Dore Act and urge the Biden Administration to reverse this economically dangerous March in Right proposal.

Photo: Eva Almqvist, Getty Images

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