The Creating Hope Reauthorization Act of 2024 Offers Hope to Kids Suffering From Rare Diseases

The Creating Hope Reauthorization Act of 2024 was introduced in the House of Representatives this week. BIO CEO and President, Rachel King, made the following statement following the bill's introduction:

"BIO strongly supports the House introduction of the Creating Hope Reauthorization Act of 2024. This bipartisan bill would reauthorize the Pediatric Rare Disease Priority Voucher Program for an additional four years.

"The PPRV program provides critical incentives to promote R&D for drugs to treat rare diseases impacting children across the country. Ensuring this program remains intact provides stability and confidence for researchers and investors.

"Rare diseases, by definition, impact a small percentage of the patient population. The costs of drug development paired with the risk involved of bringing a successful drug to market can often discourage investment in the rare disease space. This is especially true for rare diseases unique to children, including treatments for childhood cancers, muscular dystrophy, and more.

"The PPRV program is a necessary step to ensure continued investment into cures and treatments for rare pediatric diseases. We thank Reps. Michael McCaul (R-TX), Anna Eshoo (D-CA), Gus Bilirakis (R-FL), Nannette Barragan (D-CA), Michael Burgess, M.D. (R-TX), and Lori Trahan (D-MA) for their leadership on the bill and look forward to working with Congress to get it across the finish line and provide hope to the millions of kids – current and future – suffering from diseases for which little or no cures exist."