WASHINGTON, D.C. - The Advanced Medical Technology Association (AdvaMed) has created a Venture Capital Advisory Council to help Emerging Growth Companies address their unique and specific policy and capital needs during these difficult economic times.

Members of the Council will provide guidance on initiatives and advocacy priorities of particular importance to smaller manufacturers. Insights from the Venture Capitalists will be shared with the Emerging Growth Company Council (EGCC) Steering Committee and ultimately with AdvaMed's Board of Directors.

Current legislative priorities include seeking increased funding for the federal Small Business Innovation Research (SBIR) grant program, accelerating the federal net operating loss (NOL) tax deduction for small, research-intensive medical technology companies and advocating for a permanent extension of the federal R&D tax credit to help ensure the infusion of capital necessary to drive medical innovation.
VC members also will participate in several upcoming events, including the May 4-5 EGCC conference at Edwards Lifesciences LLC in Irvine, CA and the October 12-14 AdvaMed 2009: The MedTech Conference, in Washington, D.C. Both events feature sessions on tactics for speedier product approval and tips for securing financing, delivered by VCs. Moreover, these events create unique opportunities for partnering and networking between smaller med tech companies and VC firms.

"The Council is another resource to help our Emerging Growth Company members," said AdvaMed President & CEO Stephen J. Ubl. "Venture capitalists have keen insights that will help us better serve the needs of smaller companies and this founding group is comprised of some of the most recognized leaders in the industry."

Initial members of the group include representatives from the following firms: Arboretum Ventures, Baird Venture Partners, Canaan Partners, Delphi Ventures, Longitude Capital, Prism Venture Partners, Split Rock Partners, SV Life Science Advisers and Versant Ventures.

"We look forward to working with AdvaMed to further the dialogue and common goals of AdvaMed's membership base of both large, established medical technology companies as well as the investors who support them. The Venture Capital Advisory Council will serve as an effective conduit through which we can share knowledge and align interests towards helping bring important new therapies to patients in a safe, effective and efficient manner," said Pete Shagory, Partner at Baird Venture Partners, who chairs the new group. "There's terrific knowledge sharing potential and advocacy alignment here that I'm sure will benefit everyone involved," Shagory added.

Emerging Growth Companies comprise more than 70 percent of AdvaMed's membership, and they lead some of the medical technology industry's greatest innovations.

Also read the organization's statement on proposed imaging cuts:
https://www.dotmed.com/news/story/8499/

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