Obama Signs 21st Century Cures Act

DENVER (CBS4)- President Barack Obama signed a landmark bill into law on Tuesday to modernize America's biomedical research system. The approval paves the way to help find new drugs and devices.

Rep. Diana DeGette, a Democrat representing Colorado, is a co-sponsor of the 21st Century Cures Act which will speed up the discovery, development and delivery of life-saving treatments.

The bill includes $6 billion in new funding for the National Institutes of Health and the Food and Drug Administration.

The legislation would help streamline approval of breakthrough discoveries and harness the potential of promising new research in fields like personalized medicine.

The first version of the bill passed the House on a vote of 344-77 in July 2015. The new version of the bill is a compromise with members of the Senate.