Grants Awarded to 16 S.A. Biotech Companies
By Patrick Danner
Published 04:27 p.m., Thursday, November 4, 2010
Read more: http://www.mysanantonio.com/business/local/article/Grants-awarded-to-16-S-A-biotech-companies-798883.php#ixzz1HLILEJZ2
Federal tax-credit grants totaling about $4.9 million have been awarded to 16 San Antonio biotechnology companies.
The grants are among $1 billion that was made available under the health care reform legislation signed into law in March.
Most of the San Antonio companies received grants worth $244,479, though six companies each received two grants of varying amounts.
The companies are conducting research and development in therapeutic areas, including the treatment of cancer, pulmonary embolism and burns, as well as regenerative medicine, bone marrow aspiration and cell manufacturing.
BioMed SA, a public/private partnership that promotes San Antonio’s health care and bioscience industry, and the law firm Fulbright & Jaworski offered a free seminar on the web instructing companies on how to take advantage of the tax-credit grant program.
“This is an important victory for small bioscience companies,” said Ann Stevens, BioMed’s president. “It provides an opportunity for meaningful relief for this industry at a time when the capital markets are very challenging. We’re very pleased this tax-credit grant program was included in the health care reform legislation.”
The Therapeutic Discovery Project was administered by the Internal Revenue Service.
The six San Antonio companies that received two grants and the total amounts they received, according to the IRS’s website, are as follows: BioNumerik Pharmaceuticals Inc., $488,959; ENTrigue Surgical Inc., $481,391; GenSpera Inc., $488,959; Keraplast Technologies Ltd., $400,579; Trinity Laboratories Inc., $456,730; and Vidacare Corp., $488,958.
Seven San Antonio companies each received a grant valued at $244,479: America Stem Cell Inc.; Aperion Biologics Inc.; Azaya Therapeutics Inc.; BiO2 Medical Inc.; Incell Corp.; Seno Medical Instruments Inc.; and ViroXis Corp.
Three other companies received the following amounts: BioMedical Development Corp., $103,122; NanoRelease Technologies LLC, $153,383; and Rochal Industries LLP, $120,409.