Meet the new lobbying group for biotech venture capitalists
Venture capitalists aren’t exactly the most political people, but one group is trying to change that: Meet Incubate, a new lobbying coalition with the goal of correcting what the group’s executive director is calling Congress’s “fundamental misunderstanding” of the world of venture capital and biotech.
The group is just getting off the ground — they’re not yet listed in the Senate lobbying database, and they haven’t even filed formal tax paperwork yet. Instead, they’re being run out of the D.C. lobbying firm Prism Group. But they’re already speaking out vociferously against Democrats’ marque drug pricing bill.
“The debate around drug prices has escalated as such that we're moving a little faster than anticipated,” John Stanford, the group’s executive director, told STAT. “We were hoping to use 2019 as a building year and 2020 as an activation year, but some of our members really wanted to join the conversation as soon as possible."
And they’re getting the attention of top policy makers: They scored a meeting with House Speaker Nancy Pelosi’s office back in October.
The group wants to keep building momentum, both among the biotech community and on Capitol Hill. They plan to hold roughly half a dozen member recruiting events next year, including a breakfast at the annual biotech confab JP Morgan, and in D.C., they’re making the rounds to various congressional offices sharing their message.
“We're coming from two meetings today, where I have no problem telling you that [members of Congress] had not heard this perspective in this debate yet, and that's just so exciting to us and to our members,” said Stanford. “If we told you we've hit a few dozen offices, that means we've only got 500 to go.”
By the way, if you’re assuming the group aims to kill any proposal that would hurt drug makers, I’d suggest this eye-catching op-ed from one of the group’s leaders, where they say a new proposal from presidential hopefuls Sens. Bernie Sanders, Kamala Harris, and Cory Booker to create a government agency charged with regulating drug prices “could be exactly what we need.”
The group is just getting off the ground — they’re not yet listed in the Senate lobbying database, and they haven’t even filed formal tax paperwork yet. Instead, they’re being run out of the D.C. lobbying firm Prism Group. But they’re already speaking out vociferously against Democrats’ marque drug pricing bill.
“The debate around drug prices has escalated as such that we're moving a little faster than anticipated,” John Stanford, the group’s executive director, told STAT. “We were hoping to use 2019 as a building year and 2020 as an activation year, but some of our members really wanted to join the conversation as soon as possible."
And they’re getting the attention of top policy makers: They scored a meeting with House Speaker Nancy Pelosi’s office back in October.
The group wants to keep building momentum, both among the biotech community and on Capitol Hill. They plan to hold roughly half a dozen member recruiting events next year, including a breakfast at the annual biotech confab JP Morgan, and in D.C., they’re making the rounds to various congressional offices sharing their message.
“We're coming from two meetings today, where I have no problem telling you that [members of Congress] had not heard this perspective in this debate yet, and that's just so exciting to us and to our members,” said Stanford. “If we told you we've hit a few dozen offices, that means we've only got 500 to go.”
By the way, if you’re assuming the group aims to kill any proposal that would hurt drug makers, I’d suggest this eye-catching op-ed from one of the group’s leaders, where they say a new proposal from presidential hopefuls Sens. Bernie Sanders, Kamala Harris, and Cory Booker to create a government agency charged with regulating drug prices “could be exactly what we need.”
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