Lawmakers passed a five‑year reauthorization of the SBIR and STTR programs after a months‑long lapse, restoring a critical federal seed‑funding channel for small biotech firms. BIO and industry stakeholders hailed the move as essential to maintaining the pipeline of early‑stage innovation that translates academic science into commercial drug development. The reauthorization follows Senate and House votes and is expected to reopen program applications through Grants.gov, enabling small companies to pursue grants for translational research that investors often regard as too risky. The restoration is likely to benefit startups focused on preclinical and first‑in‑human work and may catalyze renewed deal flow in the near term.