On Monday, President Trump signed S. 3971, the Small Business Innovation and Economic Security Act, into law, reauthorizing the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs through September 30, 2031.
MassBio CEO & President Kendalle Burlin O’Connell issued the following statement:
“Massachusetts is home to one of the world’s premier biotech ecosystems, and SBIR and STTR are foundational to our leadership. These programs turn scientific promise into the next generation of treatments by funding the earliest, riskiest stages of drug development. After a pause in program operations lasting more than six months, Monday’s enactment restores a critical runway for American biomedical innovation.
“This signing is a significant win for our member companies, who have long been among the most productive recipients of SBIR and STTR funding, using these awards as non-dilutive capital to advance early-stage therapeutics. The six-month lapse caused significant disruption, delaying timelines, freezing hiring decisions, and creating uncertainty for companies that rely on federal innovation funding as a bridge to private investment. We look forward to working with NIH and participating agencies to ensure a swift and smooth resumption of solicitations so Massachusetts companies can get back to work building the medicines of tomorrow.”