U.S. Sen. Joni Ernst (R-IA) and Small Business Administration Administrator Kelly Loeffler toured Perspective Therapeutics, a successful Iowa small business that leveraged funding from the Small Business Innovation Research (SBIR) program to develop cutting-edge cancer treatments.
“Perspective Therapeutics is proof that innovation does not just come from the coasts but is thriving here in the heartland,” said Sen. Ernst, chair of the U.S. Senate Small Business and Entrepreneurship Committee.
Loeffler pointed out that the SBIR program provides seed funding for American entrepreneurs who power innovation in national security, health sciences, and agriculture, and she added that it’s essential for Congress to reauthorize SBIR to strengthen the nation’s technological leadership.
“I thank Chair Joni Ernst … for [her] commitment to critical technology breakthroughs, and ensuring that the most innovative U.S. small businesses have a runway into the future,” said Loeffler.
Michael Schultz, co-founder and chief science officer of Perspective Therapeutics, said the support the company has received from SBIRs has been instrumental in enabling it to advance its mission to develop innovative radiopharmaceuticals to improve outcomes for cancer patients.
“It has also given us the confidence to invest in R&D and manufacturing capabilities here in the U.S.,” said Schultz. “This visit is a wonderful opportunity to showcase the passion driving our science, the excellence of our team, and the meaningful economic impact we’re creating in the Iowa community.”
Sen. Ernst also touted the Investing in National Next-Generation Opportunities for Venture Acceleration and Technological Excellence (INNOVATE) Act, S. 853, which she sponsored in March to strengthen and improve the SBIR and Small Business Technology Transfer (STTR) programs by prioritizing investment in commercially viable technologies of the future to safeguard American intellectual property from espionage.
“The INNOVATE Act will ensure that there are more small business success stories like them in Iowa and across America,” said Sen. Ernst. “The SBIR-STTR programs must focus on investing in the best and brightest companies that are supporting our warfighters and developing the critical technology that powers our nation.”