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Sixteen San Antonio Companies Receive Biotech Tax Credit Grants From Nation’s New Therapeutic Discovery Project
November 5, 2010

(SAN ANTONIO) November 4, 2010 - Sixteen San Antonio biotechnology and medical device companies have been awarded a collective total of almost $4.9 million in federal tax credit grants as part of the new Therapeutic Discovery Project. The program is part of the federal health reform law approved in March.

Each grant is designed to offset up to 50 percent of qualifying research and development costs. Most of the San Antonio companies received grants worth $244,479 each. Six companies received two grants apiece.

A total of $1 billion was made available nationwide under the program, administered by the IRS in conjunction with the Department of Health and Human Services. To qualify, companies must have under 250 employees. Firms striving to meet significant unmet medical needs were given priority.

"We are glad to see so many San Antonio companies receive the benefit of this new funding source at a time when many small life science companies nationwide are struggling to access the capital they need to fund research and development," said Ann Stevens, President of BioMed SA, a non-profit industry cluster organization that promotes San Antonio's biomedical sector. Earlier this year, BioMed SA sponsored a free educational webinar with Fulbright & Jaworski on how companies could take advantage of the new tax credit grant program.

"We are a small biopharmaceutical company and appreciate the Therapeutic Discovery Project Program grant, which provides our company with essential funding needed to advance our drug development programs," said Ian Clements, CEO of ViroXis Corporation, which received one of the grants. ViroXis is developing novel botanical drugs to treat a variety of diseases and conditions, including HPV skin infections, an indication where there are currently no approved prescription drugs.

Other San Antonio grant recipients are conducting research and development in therapeutic areas including cancer, pulmonary embolism, regenerative medicine, fibromyalgia and diabetic neuropathy, burns, oral inflammation, sinus dilation, biofilm disruption, bone marrow aspiration and biopsy, nanoparticle vaccine delivery, and cell manufacturing and testing for personalized therapies.

The six San Antonio companies receiving two grants each are:

• BioNumerik Pharmaceuticals, Inc.
• ENTrigue Surgical, Inc.
• GenSpera, Inc.
• Keraplast Technologies, Ltd.
• Trinity Laboratories, Inc.
• Vidacare Corporation

San Antonio companies that received one grant each include:

• America Stem Cell, Inc.
• Aperion Biologics, Inc.
• Azaya Therapeutics, Inc.
• Bio2Medical, Inc.
• Biomedical Development Corporation
• NanoRelease Technologies, LLC
• Rochal Industries, LLP
• Seno Medical Instruments, Inc.
• ViroXis Corporation

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