Incubate Statement on Introduction of the PASTEUR Act
Incubate commends Senators Michael Bennet (D-CO) and Todd Young (R-IN) and Representatives Mike Doyle (D-PA) and Drew Ferguson (R-GA) for re-introducing the Pioneering Antimicrobial Subscriptions to End Up surging Resistance (PASTEUR) Act.
06.22.2021
WASHINGTON, DC (June 22, 2021) – Incubate commends Senators Michael Bennet (D-CO) and Todd Young (R-IN) and Representatives Mike Doyle (D-PA) and Drew Ferguson (R-GA) for re-introducing the Pioneering Antimicrobial Subscriptions to End Up surging Resistance (PASTEUR) Act. This legislation comes at critical time as the world continues to face the consequences of an infectious disease. The PASTEUR Act makes important strides to enable a robust and sustainable environment for antimicrobial innovation.
Incubate supports this legislation on behalf of our members in the life sciences community. By 2030, anti-microbial resistance could force about 24 million into extreme poverty, and by 2050, AMR related deaths could reach 10 million.[1] A public-private partnership is absolutely critical in developing AMR preparedness, and for stopping another pandemic in its tracks. Incubate Executive Director John Stanford stated his support for the legislation; “Armed with tools we lacked even a decade ago, humanity is poised to combat AMR like never before. But without the right policy solutions that support investment in this space, AMR could become the next pandemic we have to grapple with. The PASTEUR Act is an important step in addressing the challenges posed by AMR and we look forward to working with the bill’s co-sponsors on building broad, bipartisan support.”
This legislation will strengthen the commitment of industry in recent years, like the AMR Action Fund. The AMR Action Fund aims to bring 2-4 new antibiotics to patients by 2030 by investing $1 billion into smaller biotech companies.
Additionally, in Incubate’s newest podcast, Making Medicine, Alfonso Chang from Relativity Healthcare Partners spoke on the challenges of creating treatments for AMR, yet emphasized the urgency of creating these new innovations, “Any antimicrobial resistance is a public health matter; and that should be concerning to everybody.”
To learn more about AMR and the process of creating medicines, please visit our website incubatecoalition.org.
#
Incubate is a coalition of venture capital organizations representing the patient, corporate and investment communities with the primary aim to educate policymakers on the role of venture in bringing promising ideas to patients in need.
[1] https://www.who.int/news/item/29-04-2019-new-report-calls-for-urgent-action-to-avert-antimicrobialresistance-crisis