Venture Capitalists Funding Lawmakers Who Support Quicker Medical Device Approval

Written By: Rheingold, Valet, Rheingold, Ruffo & Giuffra LLP

Nov 10, 2011

The New York Times recently shed light on an issue that venture capitalists are making a regular practice of donating money to lawmakers who are lobbying for easier medical device approval from the FDA. An example of this is Rep. Erik Paulsen receiving $74,000 for his campaign from venture capital fund executives after he gave a warning speech about the FDA regulations hurting 400,000 jobs due to lost investment in the device industry. The head of the FDA's medical device department states that the push behind this reform seems to be more politically driven rather than searching for a resolution.

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