National Biodefense and Pandemic Preparedness Act of 2005

National Biodefense and Pandemic Preparedness Act of 2005 - Establishes the National BioVenture Trust as a federal government corporation to administer the BioShield Act and support the development of countermeasures. Requires the Trust to establish a Vulnerable Populations Working Group.

Amends the Public Health Service Act to provide for adequate countermeasure domestic manufacturing capacity and construction of additional facilities.

Expands the definition of "security countermeasure" to include vaccines or microbicides used to treat or prevent certain diseases or viruses that may contribute to a pandemic.

Provides incentives for development and production of countermeasures.

Allows the Secretary of Health and Human Services to provide grants to support the cost of screening, research, development, testing, and initial manufacture of potential candidates for countermeasures.

Requires the Secretary, acting through the Commission of Food and Drugs, to facilitate the prompt development, review, and approval of security countermeasures.

Amends the Federal Food, Drug, and Cosmetic Act to require postmarket studies for countermeasures after an exigency requiring the use of the drug arises.

Establishes the Biodefense Injury Compensation Program to provide compensation for damages that are likely caused by the administration of a covered countermeasure.

Extends liability protection for health professionals administering small pox countermeasures to include other countermeasures.

Sets forth provisions regarding pandemic influenza preparedness plans, a buyback program for influenza vaccines, price gouging, an influenza vaccine electronic tracking system, and critical antimicrobial drugs.

Establishes the National Institute of Pathology and a Board of Regents of the Institute. Transfers to the Institute certain functions of the Armed Forces Institute of Pathology.

Requires the Secretary to establish the National Advisory Committee on Vulnerable Populations and Terrorism.

Requires the Secretary to establish a Select Agent Advisory Committee to advise on matters related to security checks for individuals handling biological agents or toxins.