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Colorado’s Bioscience Industry Awarded Over $23 Million
in Funding from Federal Qualifying Therapeutic Discovery Project Grant and Tax Credit Program -- Ranking In The Top Ten Of
States Making Application According to the Colorado BioScience Association (CBSA),
Colorado’s bioscience industry received more than $23 million for 102 different projects in the Qualifying Therapeutic
Discovery Project (QTDP) program, per data posted online Monday by the Internal Revenue Service (IRS), in conjunction with
the Department of Health and Human Services (HHS). Colorado ranks in the top ten of states applying for credits and grants
under the new program. Denver, CO, November 06, 2010 -- Colorado’s
bioscience industry received over $23 million for 102 different projects in the Qualifying Therapeutic Discovery Project (QTDP)
program, per data posted online November 1 by the Internal Revenue Service (IRS), in conjunction with the Department of Health
and Human Services (HHS). The announcement is made by Holli Baumunk, President & CEO of the Colorado BioScience Association
(CBSA), who is proud to say that Colorado ranks in the top ten of all states applying for credits and grants under the new
program.
“The QTDP program was created under the Patient Protection and Affordable Care Act of 2010 which
was enacted in March of this year,” Baumunk explains. “This was a unique program in which $1 billion was allocated
for tax credits and grants for start-up companies in the bioscience industry to help encourage innovation, advance technology
and help ensure that the U.S. remains competitive in this industry."
This new program was designed to provide
tax credits and grants to small bioscience firms that show significant potential to produce cost saving therapies, support
US jobs and increase US competitiveness.
More information about the QTDP program: http://www.irs.gov/businesses/small/article/0,,id=228690,00.html
The following Colorado companies received QTDP tax credits and grants for their bioscience projects: * Accelr8 Technology Corporation - www.accelr8.com
* Actium Biosystems, LLC - www.actiumbio.com
* Aktiv-Dry, LLC - www.aktiv-dry.com
* Allos Therapeutics, Inc. - received funding for six projects - www.allos.com
* ApopLogic, Inc. - received funding for two projects - www.apoplogic.com
* Aqueous Biomedical, Inc.- www.aqueousbio.com
* ARCA Biopharma, Inc. - received funding for two projects - www.arcabiopharma.com * ArcScan, Inc. - www.arcscan.com
* AspenBio Pharma, Inc. - www.aspenbioinc.com
* Beacon Biotechnology, LLC - www.beaconbiotechnology.com
* BioAMPS International, Inc. - www.bioamps.com
* Biodesix, Inc. - received funding for six projects - www.biodesix.com
* BiOptix Diagnostics, Inc. - www.bioptix.com
* Bolder Biotechnology, Inc. - received funding for five projects - www.bolderbio.com
* Cell Point - www.cellpointweb.com
* CeMines, Inc. - www.cemines.com
* Cerapedics, Inc. - received funding for three projects - www.cerapedics.com
* CereScan Corp. - www.cerescanimaging.com
* Chata Biosystems, Inc. - www.chatasolutions.com
* Clovis Oncology, Inc. - received funding for two projects - www.clovisoncology.com
* Corgenix Medical Corp. - www.corgenix.com
* Crestone Inc. - received funding for two projects - www.crestonesystems.com
* EndoShape, Inc. - received funding for two projects - www.endoshape.com
* Eveia Medical, Inc. - www.eveiamedical.com
* Fertility Laboratories of Colorado, Inc. - www.flcolo.com
* Generations Medical Partners, LLC
* GlobeImmune, Inc. - received funding for three projects - www.globeimmune.com
* Greffex, Inc. - www.greffex.com
* Hiberna Corporation
* ICVRX, LLC
* Inviragen, Inc. - received funding for two projects - www.inviragen.com
* Isogenis, Inc. - www.isogenis.com
* Kestrel Labs, Inc. - www.kestrellabs.com
* Lanx, Inc. - www.lanx.com
* Leap Frogg, LLC
* MBC Pharma, Inc. - www.mbcpharma.com
* Micro-Imaging Solutions, LLC - www.micro-imaging.us
* MicroPhage, Inc. - received funding for two projects - www.microphage.com
* Miragen Therapeutics, Inc. - www.miragentherapeutics.com
* Myocept, Inc. - www.myocept.com
* N30 Pharmaceuticals, LLC - www.n30pharma.com
* Ocutronics, LLC - www.ocutronics.com
* Otologics, LLC - www.otologics.com
* Parascript, LLC - www.parascript.com
* PARE Surgical, Inc. - www.paresurgical.com
* Pathogen Systems, Inc. - www.crystaldiagnostics.com
* PharmaJet, Inc. - www.pharmajet.com
* Precision Photonics Corp. - www.precisionphotonics.com
* ProFoldRx, Inc. dba BaroFold, Inc. - www.barofold.com
* Protectstyle Corp.
* Pyxant Labs, Inc. - received funding for two projects - www.pyxant.com
* Rocky Mountain Biosystems, Inc. - received funding for two projects
* SomaLogic, Inc. - received funding for
eight projects - www.somalogic.com
* Sophono Inc. - www.sophono.com
* Source Precision Medicine Inc. dba Source MDx - received funding for two projects - www.sourcemdx.com
* St Cardio Technologies - www.stcardio.com
* St. Renatus, LLC - www.st-renatus.com
* Sundance Diagnostics, Inc. - www.sundancedx.com
* Surefire Medical, Inc. - www.surefiremedical.com
* ValveXchange, Inc. - www.valvexchange.com
* Ventria Bioscience - received funding for three projects - www.ventria.com
* Vitrolife, Inc. - www.vitrolife.com Link to the related HHS release, "Secretaries Geithner, Sebelius, NIH Director Collins Announce Recipients
of Affordable Care Act Grants to Support Groundbreaking Biomedical Research," disseminated November 3: http://www.hhs.gov/news/press/2010pres/11/20101103b.html
About the Colorado Bioscience Association
The CBSA is a not-for-profit corporation
providing services and support for Colorado's growing biosciences industry. With more than 400 members, CBSA actively works
to promote the growth of the industry by working for a better business environment, grow the state's biotech workforce, fight
for policies that support a strong bioscience industry in the state and speak with a single voice on behalf of the industry.
For more information, visit http://www.cobioscience.com.
CBSA also is found on these social media sites:
Twitter: http://twitter.com/COBioscience
LinkedIn Group: http://www.linkedin.com/groups?about=&gid=98468&trk=anet_ug_grppro
Facebook Fan Page: http://www.facebook.com/ColoradoBioScienceAssociation
News Feed: http://coloradobio.blogspot.com
YouTube Channel: http://www.youtube.com/COBioscience
Contacts:
Leah Kientz, Director of Public Policy and Programs, Colorado BioScience
Association –303-592-4088, lkientz@cobioscience.com
Maggie Chamberlin Holben, APR, Absolutely PR – http://www.absolutelypr.com – 303-984-9801, maggie@absolutelypr.com
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It’s been another outstanding year for Colorado in
the highly competitive state rankings arena. FierceBiotech included Colorado in its top five regions targeting biotech companies.
Further, Colorado now ranks 8th in VC funding for biotech firms and 10th for medical device and equipment firms, as recently
reported by Genome Technology. Colorado’s venture capital success was vividly demonstrated when Boulder-based Clovis
recently launched with an impressive $145 million in start-up funding. Denver, CO, May 29, 2009 -- “It’s an exciting time to be a bioscience company in Colorado, and the state is continuing to
garner the national attention it deserves for its top-notch bioscience industry,” said John Collar, President and CEO
of the Colorado BioScience Association (CBSA), “FierceBiotech highlighted Colorado as one of its top five biotech regions,
and The Money Tree™ Report, recently released by Genome Technology, listed Colorado in its top 10 Venture Capital deals
for both biotech and medical device and equipment.”
Colorado’s success at attracting venture
capital was demonstrated earlier this month when Boulder-based Clovis Oncology, Inc. announced an impressive $145 million
in start-up funding at its company launch. Clovis is focused on acquiring, developing and commercializing innovative anti-cancer
agents in the U.S., Europe and additional international markets. The company is founded by former executives of Pharmion Corporation,
which was acquired by Celgene Corporation in 2008 for $2.9 billion.
“We are so very pleased
that the former Pharmion team has chosen to remain in the state and headquarter their new company here. With the experience
behind them and the success of the business model from Pharmion, the bioscience industry and Colorado will be keeping a close,
and proud, eye on this new start-up,” Collar says.
FierceBiotech Rankings
Colorado
was selected as a top five biotech region in the “Top 5 North American Regions Targeting Biotech Companies 2009”
special report from FierceBiotech in May. Each year, FierceBiotech reviews economic development reports and finds new initiatives
that will have a positive impact on the bioscience industry in that region, and in 2008 Colorado was named a top 5 region
along with Minnesota, Massachusetts, New York and Ontario.
FierceBiotech discussed the importance of having
Nobel laureate Tom Cech return to his practice at the University of Colorado at Boulder after ten years as president of the
Howard Hughes Medical Institute. The excitement behind Dr. Cech’s return to the state will foster talent and growth
within the bioscience industry, but the article pointed out that it will take more than talent to make this happen.
Quoting
from the FierceBiotech article: “And state lawmakers recognized that when they passed a bill last year that will fertilize
a nascent biotech cluster with $26.5 million in state money…Now, $26.5 million can't compare to the kind of
money that California, Massachusetts, Florida and others have already spent fostering biotech. But it is a cleverly designed
program that has real potential to help emerging biotech companies--as well as state researchers and institutions –
when they need it the most. Combined with a few more scientific recruiting coups, Colorado could start to realize its latent
potential.”
The full report and information about FierceBiotech is available at http://www.fiercebiotech.com/special-reports/top-5-regions-targeting-biotech-companies-2009
Genome
Technology/The Money Tree™ Report
Genome Technology’s 'BioRegion Outlook: Land-Grab End Games' report released
in May showcased the 2008 Venture Capital investments in biotechnology companies. Colorado found its way to the 8th spot in
VC funding for biotech firms and in the 10th spot for medical device and equipment firms, through data from The Money Tree
Report by PricewaterhouseCoopers and National Venture Capital Association, based on data by Thomson Reuter. In the fourth
quarter of 2008 the biotechnology industry secured two deals totaling $23.5 million. Three investments were made in the
medical device and equipment industry in Colorado, totaling $12 million. The venture capital index and information about
The Money Tree Report is available at https://www.pwcmoneytree.com/MTPublic/ns/index.jsp
About Genome Technology
The
Genome Technology Online website and a monthly magazine with print and digital editions - reaches a global community of active
scientists working in pharmaceutical and biotech companies, universities, and biomedical research institutions. Genome Technology
Online is a free Web service supported by advertising. Genome Technology Magazine is a free journal for qualified subscribers
and is supported by advertising. For more information visit http://www.genome-technology.com
About
Colorado BioScience Association
CBSA is a not-for-profit corporation providing services and support for Colorado's
growing biosciences industry. With more than 400 members, CBSA actively works to promote the growth of the industry by working
for a better business environment, grow the state's biotech workforce, fight for policies that support a strong bioscience
industry in the state and speak with a single voice on behalf of the industry. For more information, visit http://www.cobioscience.com
###
Contacts:
Leah
Kientz, Director of Public Policy & Programming, Colorado BioScience Association - http://www.cobioscience.com - 303-592-4088,
lkientz@cobioscience.com
Maggie Chamberlin Holben, APR, Absolutely Public Relations – http://www.absolutelypr.com
-
303-984-9801, maggie@absolutelypr.com
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Maggie Chamberlin Holben, owner of this website, is a former two-term member of the CBSA
Board of Directors and is making this page available to the CBSA to enhance media awareness of Colorado's bioscience industry,
the association and its members.
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