Category: Finance
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IRS Posts Therapeutic Discovery Project Awards
The Internal Revenue Service (IRS) posted the complete list of companies receiving Qualifying Therapeutic Discovery Project credits and grants under a provision of the Affordable Care Act enacted on 23 March 2010. The Qualifying Therapeutic Discovery Project program is targeted to projects that show potential to produce new therapies, reduce long-term health care costs, or…
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Global R&D Spending Among Innovators Declines in 2009
Total R&D spending among the world’s top spenders on innovation dropped in 2009 for the first time in the 13 years studied, according to the annual survey by management consulting firm Booz & Company. At the same time, most science-related companies, especially those in the health care industry, increased their R&D spending, with the pharmaceutical…
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Four Biotechs Land Affordable Care Act Grants
Four biotechnology companies reported the awarding of grants under a provision in the Patient Protection and Affordable Care Act of 2010, known popularly as the Affordable Care Act. The Act adds to Section 48D of the Internal Revenue Code a provision called the Qualifying Therapeutic Discovery Project Credit. This credit funds projects that show potential…
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Biotech Company Gets Affordable Care Act Grant
Cancer diagnostics company Biomoda Inc. in Albuquerque, New Mexico says it received a grant of more than $244,000 under a provision in Patient Protection and Affordable Care Act of 2010, known popularly as the Affordable Care Act. The grant will fund pilot and later-stage clinical trials of the company’s CyPath diagnostic assay for the detection…
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Macular Degeneration Test Company Gets Investment
The Ontario Genomics Institute (OGI) in Toronto said today it has made an investment in molecular diagnostics company, ArcticDx Inc., also in Toronto. ArcticDx has developed Macula Risk, a test designed to determine one’s inherited risk for age-related macular degeneration (AMD), the most common form of acquired blindness in the developed world, affecting over 10%…
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Real-Time Coastal Monitoring System in Development
Researchers from North Carolina State University (NCSU) in Raleigh are developing an electronic monitoring system to help advance understanding of coastal ecosystems by allowing users to track water-quality data from these waters in real time. The project was funded by National Science Foundation and National Security Agency. The NCSU team is working on the project…
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Cornell Gets $80 Million Gift for Sustainability Research
Cornell University alumnus David R. Atkinson and his wife Patricia Atkinson (pictured right) have given the university an $80 million gift to turn a three-year-old pilot program that they funded into a permanent, research center on challenges in the global energy, environmental, and economic development arenas. The university says the contribution represents the largest gift…
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U.S. Angel Investors Retreating from Start Up Deals
While angel investors made more deals in the first half of 2010, compared to 2009, the total dollar volume invested dropped, as did the percentage of funding for seed and start up stage financing. Nonetheless, a majority of the deals involved science-related companies. These findings appear in a report published by the Center for Venture…
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Europe R&D Network Approves 2011 Funding Targets
EUREKA, an intergovernmental consortium of European and neighboring organizations focused on research and development, approved funding €51 million ($US 70.4 million) for 56 new projects next year. The projects were selected by EUREKA’s High Level Group Representatives and National Project Coordinators from 40 countries. The funded R&D projects covered the fields of electronics, IT and…
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Worldwide Corporate R&D Drops, Pharma/Biotech Bucks Trend
The European Commission’s 2010 “EU Industrial R&D Investment Scoreboard” shows that R&D investment by the world’s top 1,400 companies dropped by nearly 2 percent in the companies’ 2009 fiscal years, but with pharmaceutical/biotech companies and companies in Asian countries increasing their R&D spending. The worldwide economic recession, the report indicates, is taking its toll on…