SOURCE: The Alliance for Regenerative Medicine
WASHINGTON, DC--(Marketwired - Mar 13, 2014) - The Alliance for Regenerative Medicine (ARM), the national voice for regenerative medicine, today announced the introduction of the Regenerative Medicine Promotion Act of 2014 in the U.S. Senate and expressed appreciation for the efforts of its lead sponsors, Senators Barbara Boxer (D-CA) and Mark Kirk (R-IL).
"Regenerative medicine represents the single most promising new approach to mitigating the human and economic costs of disease, and changing the course of human health," said Michael Werner, Esq., Executive Director of ARM "Medical innovation and economic growth are important to all of us, regardless of political affiliation, and we are grateful to our lead sponsors, Senators Boxer and Kirk, for making this bill a bipartisan effort. The bill launches a national effort to support these technologies."
The field of regenerative medicine is of national significance because of its acknowledged potential to cure or dramatically diminish the effects of many serious and economically burdensome conditions -- including diabetes, cardiovascular and neurodegenerative disease, cancer and traumatic injury -- by harnessing the restorative properties of living cells and bioactive materials.
"Regenerative medicine offers hope for millions of Americans living with debilitating conditions or diseases," said Amy Comstock Rick, J.D., CEO, Parkinson's Action Network. "By establishing national priorities and coordination of federal agencies around regenerative medicine, this Act paves the way for our families to benefit from breakthrough scientific developments, secures a leading role for the U.S. in the global medical economy of the future, and creates possibilities for new solutions to the healthcare financing crisis."
Major provisions of the bill include creation of a multi-agency Regenerative Medicine Coordinating Council within the Department of Health & Human Services (HHS); and calling for a detailed assessment of federal activities in regenerative medicine as well as progress compared to national programs in other countries.
"Multiple federal agencies fund or conduct regenerative medicine research and recognize its promise to transform medical care," said Morrie Ruffin, Managing Director of ARM. "A coordinated effort, such as the one outlined in the bill introduced today, will allow us to advance toward innovative, life-saving therapies and create the regulatory infrastructure necessary to encourage private investment in promising regenerative medicine research," he added.
"Dovetailing with this bill, ARM has outlined a national strategy for regenerative medicine and is seeking rapid implementation of these programs," said Werner. "To date, ARM has worked with the White House, the U.S. Food & Drug Administration (FDA), National Institutes of Health (NIH), National Institute of Standards & Technology (NIST) and members of Congress to further define and promote adoption of this proposed strategy," he added.
About The Alliance for Regenerative Medicine
The Alliance for Regenerative Medicine (ARM) is a Washington, DC-based multi-stakeholder advocacy organization that promotes legislative, regulatory and reimbursement initiatives necessary to facilitate access to life-giving advances in regenerative medicine. ARM also works to increase public understanding of the field and its potential to transform human healthcare, providing business development and investor outreach services to support the growth of its member companies and research organizations. Prior to the formation of ARM in 2009, there was no advocacy organization operating in Washington, DC to specifically represent the interests of the companies, research institutions, investors and patient groups that comprise the entire regenerative medicine community. Today ARM has more than 150 members and is the leading global advocacy organization in this field. To learn more about ARM or to become a member, visit www.alliancerm.org.