A group of entrepreneurs and venture capitalists have formed the Medical Innovation and Competitiveness Coalition, or MedIC. The alliance was formed to promote policies and regulations that facilitate medical innovation in the United States. The movement was spurred by growing concerns that changes in the healthcare system—primarily, efforts to control ballooning costs—could make life science companies less attractive to investors.
“We’re at serious risk of losing that lead and losing the ability that lead gives us to create leading-edge jobs,’’ said David Schenkein, a MedIC steering committee member and chief executive of Agios Pharmaceuticals, a venture-backed Cambridge start-up developing cancer drugs. “There are very few incentives in the United States right now for entrepreneurs to move into this field.’’