Today, the 21st Century Cures Act was passed on the floor of the House of Representatives by a vote of 344-77. Cures has drawn bipartisan support with the goal of increasing funding for the National Institutes of Health and streamlining the pathway for new drugs to reach patients. This bill provides $1.86 billion per year in mandatory funding for the NIH from fiscal 2016 to FY20 through an innovation fund.
The innovation fund prescribed by the bill would provide an additional $1.75 billion to the NIH of which $500 million would be targeted to the Accelerating Advancement Program. The AAP would serve as a grant matching program to accelerate promising biomedical research. Remaining monies from the NIH innovation fund would be divided among grants for early stage investigations and research, high risk high reward projects and intramural research.
Also from the innovation fund, $110 million per year would be targeted to the Cures Allocation fund. This money would be utilized to support development and implementation of programs created under the bill. Those programs include creating user and clinical experience data, facilitating drug development tools, and monitoring continuous manufacturing.
Having passed in the House, Cures will now head to the Senate for consideration.