The biotechnology industry's recent full-court press to let firms owned by venture capitalists qualify for federal small-business grants has found an ally in Dr. Elias Zerhouni, head of the National Institutes of Health. Although most NIH awards go to small biotechnology companies, an SBA judge ruled in 2003 that companies controlled by venture capital firms are disqualified. Thus, many biotech companies cannot get grants because they tend to be majority-owned by such venture capital firms.
July 29, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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