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HR 3731 114th Congress House Health Advisory bodies Department of Health and Human Services Drug safety, medical device, and laboratory regulation Drug therapy Health programs administration and funding Health technology, devices, supplies Medical research National Institutes of Health (NIH) Research administration and funding Research and development

RaD Fund Act

Introduced: October 9, 2015 Introduced by: Vargas, Juan Democratic · California See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 16, 2015
Referred to the Subcommittee on Health.
Oct 9, 2015
Referred to the House Committee on Energy and Commerce.
Oct 9, 2015
Introduced in House
 Plain-English summary Congressional Research Service

Rare Disease Fund Act or the RaD Fund Act

This bill requires the National Institutes of Health (NIH) to organize the Rare Disease Therapeutics Corporation to purchase rights to, fund the development of, and sell ownership interests in drugs, biological products, and medical devices for rare diseases.

The NIH must sell stock in the corporation to investors as soon as practicable. The corporation and the NIH may enter into an agreement under which the NIH maintains an ownership interest in the corporation in exchange for providing the corporation with intellectual property or other assistance. The corporation is prohibited from paying dividends on its stock.

The corporation must sell its interest in a rare disease therapy prior to the therapy entering large-scale clinical trials.

The corporation must issue bonds guaranteed by the United States and may issue bonds backed by the corporation. For purposes of securities laws, the securities of the corporation are not issued or guaranteed by the federal government.

The bill establishes within the NIH the Rare Disease Therapeutics Corporation Science Advisory Council to advise the corporation on the purchase, sale, and development of rare disease therapies.
What's happening now October 16, 2015

Referred to the Subcommittee on Health.

 Committees of jurisdiction 2