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Space Perspective Begins Production of Luxury Space Balloon Capsules

The first human-made object, Sputnik 1, was sent into orbit on October 4, 1957. On April 12, 1961 the first human entered space. These achievements, along with the years of R&D that went into them, have set the stage for continued space exploration. But we’re not all astronauts, and some of us just want to see Earth from space.

Space Perspective, Inc. has begun manufacturing their Spaceship Neptune – a luxury balloon flight that will take passengers 100,000 feet above Earth’s surface. The company was founded 3 years ago with headquarters at Kennedy Space Center. This latest step brings them closer to their goal of commercial flights by the end of 2024.

The commercial flights will take a maximum of eight passengers on a six-hour balloon journey with a gradual, 12 mph climb. They’ll stay at the peak for two hours, giving passengers a view from the edge of space.

Their patent-pending capsule is the result of years of R&D. The spherical capsule uses a splash cone for gentle, safe splash-downs in the ocean at the end of the flight. A reflective coating on the exterior regulates the temperature, keeping the interior cool and comfortable.

Developing space-safe balloons is no easy feat. The company has collaborated with Siemens AG to simulate the six-hour trips including varying environmental conditions to ensure the design is safe in any scenario.

The company already has sold 900 tickets, priced at $125,000 per person. In addition, it has raised $65 million since its founding. That includes a recent $17 million investment round announced May 19.

Meanwhile, the firm’s presence in Central Florida soon may bring construction and hundreds of new jobs. The company plans to build a 120,000-square-foot Titusville manufacturing facility by 2023, creating 240 full-time, high-wage jobs by 2026.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Enko, Crop Health Company, Secures $70M in Series C Funding

We have seen just how fragile the global food supply chain can be when hit with a crisis. Crop security has since become a critical investment area. This is where crop protection startup Enko comes in.

Enko has recently secured $70 million in Series C funding for its platform that facilitates the discovery and development of alternatives to chemical crop protections. The investment round was led by Nufarm, an Australian agrochemicals company.

Enko addresses crop security issues with artificial intelligence to apply drug discovery and development approaches from pharma to plants. With this process, they are tackling the biggest threats to crops including pest resistance and ever-evolving diseases. As if this wasn’t a bold enough mission as it is, the company’s platform further strives to drive down R&D costs, allowing for the discovery of new products to be more cost-effective.

Their platform uses AI for a target-based discovery process which allows them to first rapidly identify and discover new compounds. This stage is driven by their deep understanding of plant, insect, and fungal biochemistry. Once the target is known, the company can quickly achieve potency and selectivity through the next stages of their structure-based design.

DNA Encoded Libraries (DEL) are incorporated into their platform, using state-of-the-art drug discovery approaches to screen 100’s of billions of compounds against each of their targets rapidly and cost effectively. This allows the company to have multiple unique starting points for their pipeline, increasing the chance at effective solutions. As they continue to grow, so do their datasets, furthering their expertise and capabilities.

The company led a Series B round led by the Bill & Melinda Gates Foundation in 2020 which raised $45 million. Between their rounds of funding and their R&D collaboration with Bayer to discover new chemistries for fighting weeds and with Nufarm to develop new herbicides, the company is on a sure path to improving the agriculture industry.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

$280B Bill for Semiconductor Industry Tax Incentives Passes Key Senate Test to Support the Global Lead in the Industry

According to IC Insights’ updated review and analysis of global data, the Americas – and specifically the United States – remain the globe’s biggest investors into semiconductor R&D.

In 2021, the Americas led with their 55.8% slice of the total $80.5 billion sunk into technological research and development. But the data shows that Asia-Pacific countries have been increasing their spending at a much more radical pace, leading them to gain 11.5% of the pie. It would seem this market too is approaching a duopoly, setting trends for decades to come.

The United States Senate has recently advanced a $280 billion bill designed to further boost the semiconductor industry. This bill is meant to accelerate high tech research that will be critical to the economy in future decades. A bill like this would only support their leading position in the global race.

The Senate needed 60 votes to advance the bill and with a vote of 64-32, the legislation is now on track to final passage in the Senate. The White House has led support for the bill along with other industry leaders. These leaders have identified that government subsidies are crucial to maintaining this global lead. They say the pandemic has exposed the dangers to the economy and to national security of relying too heavily on foreign-made computer chips.

The bill would provide $42 billion in grants and other incentives for the semiconductor industry as well as a 25% tax credit for those companies that build chip plants, or fabs, in the U.S. The cost of the tax break is projected to be about $24 billion over 10 years. The bill also authorizes about $200 billion to enhance scientific research over the same timeframe.

“We are not used to providing these kinds of financial incentives to businesses, but when it costs 30 percent less to build these manufacturing facilities across the seas in Asia and our access to that supply chain is potentially jeopardized by very real threats, it is a necessary investment for us to make,” said Sen. John Cornyn, R-Texas.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Praesidium Inc. Announces Commercial Agreement for their Patented Smart Sleep Technology

Missouri Patent of the Month - August 2021

Utah-based Praesidium, Inc. has finalized a commercial agreement with two business partners securing the plans to launch their innovative, next generation “Smart Sleep” mattress early next year. The partners include a leading domestic foam mattress manufacturer and Prius Healthcare – a therapeutic support surface innovator.

The company, staffed by the experts who specialize in non-contact vital sign detection, have spent the past year in a committed R&D phase to create their new Smart Sleep technology. Between Praesidium’s health industry expertise and their business partner’s knowledge of mattresses and therapeutic support, their new technology is set to revolutionize the growing space of Smart Sleep.

The company’s patented BioFi technology will allow consumers to adjust the pressure in their mattress in all the traditional ways while tracking their critically important quantitative vital statistics (eg. heart rate, heart rate variability, bed exits, etc.). Combined with machine learning, the mattress can smartly adjust its own pressure while you sleep in response to your varying vitals in real time.

The commercial agreement includes significant volume guarantees for Praesidium’s BioFi sensors and technology over the next several years with initial geographic sales reach concentrated in North America, but quickly scaling throughout Europe and certain Asian markets. Minimum revenue estimates from this commercial agreement approach $70M for Praesidium’s BioFi technology and sensors. More definitive launch plans and additional press releases will be forthcoming from the collaborators as the 2023 launch approaches.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

ARS Pharmaceuticals and Silverback Therapeutics Set to Merge into a Single Entity Focused on EpiPen Alternative

ARS Pharmaceuticals has announced a merger with Silverback Therapeutics. Going forward, the combined company will be called ARS Pharmaceuticals.

The newly combined company will focus their expertise on regulatory approval and commercialization of ARS’s epinephrine nasal spray for severe allergic reactions. The spray, called neffy, is a potential easy-to-use alternative to the EpiPen.

The combined company is expected to have $265 million in cash, cash equivalents and marketable securities upon closing, including $240 million in cash from Silverback. Silverback equity holders will own about 37% of the new company, and ARS’s 63%. The deal is expected to close in the fourth quarter of this year, pending stockholder approval.

Silverback made a name for themselves for their experimental solid tumor therapy following a public offering in late 2020. ARS, which raised $55 million in a Series D round of funding last spring, plans to submit its NDA (new drug application) for neffy to the U.S. Food and Drug Administration by the third quarter of this year. If the spray is approved, the company aims to launch the product in 2023.

The design of this EpiPen alternative would remove the need for needles, making administration less painful in a moment of panic. Less pain means less hesitation means less lives lost.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Cleerly Brought $192M in Series C Funding

Cleerly, Inc., a New York-based startup, has announced a successful Series C funding which brought in $192 million, effectively quadrupling their previous funding.

The company is developing artificial intelligence capable of predicting heart attacks. The investment came after the company proved their noninvasive solution is on par with the current gold standard of coronary angiography in spotting signs of heart disease. The funding will help Cleerly in their efforts to bring the technology global.

Cleerly intends to direct the money towards building out their team, expanding the commercial reach of their software, and supporting more than a dozen ongoing clinical trials to further back up the technology’s claims.

The Series C funding round was led by T. Rowe Price Associates, T. Rowe Price Investment Management and Fidelity Management and Research Company. This large infusion follows shortly after a Series B funding round announced in June, which brought in $43 million.

The software analyzes noninvasive CT angiography scans of the heart to both characterize and measure the amount of plaque built up in the arteries. By evaluating the likelihood that those build-ups could completely cut off the supply of oxygen to a patient’s heart, the software is able to identify early signs of heart disease and calculate the risk that a patient will experience a heart attack.

The system is powered by a database of millions of previously assessed CT images, as well as data collected in clinical trials spanning thousands of patients. Cleerly is aiming to further expand that repository with its ongoing studies, which plan to enroll more than 100,000 patients from across the globe within the next decade.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

BEMY Cosmetics Selected for MassChallenge’s 2022 Cohort

BEMY Cosmetics is one of 7 Houston startups chosen for MassChallenge’s 2022 United States cohort of early-stage startups. MassChallenge is the global network for innovators who are working to solve massive challenges.

As a selected startup, BEMY will be eligible for equity-free cash prizes of as much as $1 million. The company will also have access to MassChallenge’s new residency program, allowing the founder teams to travel between the various MassChallenge hubs.

BEMY set out to revolutionize the cosmetic industry through the advancement of rejuvenating adult human cells for mass market-oriented and personalized products. The idea came about when the founders decided to combine proven RNA technology with personalized skin cream. Between expertise and a novel idea, BEMY quickly became the first and only company in the world to use RNA reprogramming technologies for rejuvenating adult human skin cells.

This has been no easy task, requiring years of experimentation and engineering to develop this solution. From prototypes to patents, the startup has overcome extensive uncertainties. Their technology reprograms adult human skin cells, returning them to a near embryonic elasticity, ensuring the results have all the benefits and none of the ethical risk of embryonic stem cell technologies. The process requires the collection of your own skin cells, from a small and gentle scrape along your skin, before developing a personalized extract capable of rejuvenating your skin.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Pearlita Foods Unveils Plant-Based Oyster Prototype

While oysters are a delicious treat to many, the practice of oyster farming packs some serious environmental implications. Oyster farming is known to result in a net removal of nutrients from the water column causing a domino effect of environmental damage. Pearlita Foods looked at these impacts and decided there must be a better way.

So they developed the world’s first plant-based oyster prototype which looks and tastes exactly like a traditional oyster.

This cell-cultured seafood startup engaged in a truly extensive process of experimentation to get the right textures and authentic ocean tastes. The result is a prototype made using plant-based and cell-based technologies with a proprietary mushroom and seaweed base. Combining this with Pearlita’s novel flavor mixture is the key to achieving the pure oyster taste.

Their next steps will focus on creating a biodegradable oyster shell to achieve the same experience that comes with traditional oysters. Ofcourse, there would be no need to shuck, making it easier to serve and eat.

The best part? Plant-based oysters offer a solution to meet the global demand without the impact on the ocean. In addition to the plant-based solution, they have been working with a cell-based solution. This alternative can produce fully cultured oysters using an oyster tissue sample. Cells from a sample can be used to produce thousands of cultivated oysters.

While the startup continues its research and development on cultured oysters and biodegradable shells, Pearlita will debut its hybrid plant-based oyster using recycled oyster shells for its showcasing and tastings. In North Carolina, where Pearlita is headquartered, many coastal communities offer shell recycling drop-off locations to build new oyster reefs instead of disposing of the shells in landfills.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Tiiga, Inc. Receives $100K from Nebraska Incubator

Nebraska-based Tiiga Inc. has received $100,000 in funding this past week from the Lincoln-based startup accelerator NMotion via its growth accelerator program. Tiiga, alongside 5 other Nebraska startups, was selected from a pool of 179 applicant companies.

Tiiga, a plant-based nutritional drink supplement company, intends to use the funding to expand and accelerate their startup’s reach. They intend to open up new avenues for selling Tiiga products. The company launched in June 2020 and have since secured shelf space for their products at about 50 Hy-Vee supermarkets across five states and are expanding the product to Texas and Salt Lake City.

The company was born when the founders met in Lincoln, Nebraska decided the world needed to experience the joy of baobab-based beverages. Harrouna Malgoubri introduced Jeff Tezak and Katy Kerins to the baobab fruit which came from his native country, Burkina Faso, in western Africa.

They began to explore the benefits of the fruit and quickly moved into an R&D phase to formulate a low-calorie and natural drink option. The formula also had to be sustainably produced and have the potential to create positive change in the health of others and for women and entire communities in Africa. This is no easy feat, requiring extensive formulation testing and experimentation.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Red Trail Energy is the Nation’s First to Capture and Store Carbon Dioxide Underground

Red Trail Energy has made great strides in carbon capture and sequestration following the conclusion of six years of research and development as well as hefty investments.The ethanol plant has become the first facility in the United States to capture and store carbon dioxide (CO2) emissions deep underground.

The company officially began the injection of CO2 captured from the plant on June 16 and made the official announcement two days later. They expect that each day the plant will capture 500 metric tons of CO2 produced by fermenting corn to make fuel.

This sustainable step reinforces and supports the path for long0term viability of current energy sources in the state. The North Dakota Industrial Commission gave approval for Red Trail Energy to commercially capture 180,000 metric tons of CO2, a greenhouse gas.

This milestone follows after the state became the first in the nation to secure authorization from the Environmental Protection Agency to inject CO2 deep underground for permanent storage. This earlier authorization was granted in 2018. The CO2 is deposited more than a mile underground into the Broom Creek Formation – a porous layer of rock sandwiched between “impenetrable” rock layers that will permanently store the greenhouse gas in the earth.

Officials credited the Energy and Environmental Research Center at the University of North Dakota for doing work that demonstrated the feasibility and potential of carbon capture and storage in the state. They estimated that North Dakota can safely store more than 252 billion tons of CO2.

Red Trail Energy continuously monitors the stored CO2 using a carbon fiber installation at the injection well as well as an adjacent monitoring well.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.