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Ocean Renewable Power Company announces plans to generate renewable energy in Alaska with Tidal Generators

Ocean Renewable Power Company (ORPC) – who planned to build a tidal generator in Nikiski – has announced their interest in a second tidal site. The company hopes this second site can harness the strong tides in the inlet to power machinery at Port MacKenzie, across Knik Arm from Anchorage.

ORPC is familiar with Alaska’s tides and their ability to create power as they already have a freshwater hydrokinetic generator in Igiugig on the Alaska Peninsula. However, this new development will be the first generator in saltwater in Alaska.

Merrick Jackinsky, ORPC Development Director, who’s based in Anchorage, said the generator could fully power the machine that keeps the dock at Port MacKenzie from corroding into the inlet – called a cathodic protection system. He estimates the project could create 80 kW of power for that machine.

Saltwater poses its own challenges for tidal tech and will require some extensive R&D to get it functioning as needed. The mechanisms will be similar, using the in and out motion of the tide to spin turbines which are connected to an underwater generator. This energy source could be more dependable as the tides are much more predictable than solar and wind.

Jackinsky said ORPC looked at Port MacKenzie as a project site a while ago. But at the time, there wasn’t a lot of information about the Cook Inlet belugas in the upper inlet, which is why the company turned its focus to the site in Nikiski.

Since then, he said, there’s been more research about the belugas there and more interest in renewables from the Matanuska-Susitna Borough, which owns the port.

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.

Purnovate Collaborates with Medical College of Wisconsin

Purnovate, Inc. – a subsidiary of Adial Pharmaceuticals, Inc. – has announced their collaboration with the Medical College of Wisconsin, a leading medical school, and Dr. John Auchampach, PhD, Professor and Vice Chair of the Department of Pharmacology and Toxicology. The collaboration aims to further evaluate the Company’s proprietary adenosine analogs as potential treatments for diabetes and non-alcoholic steatohepatitis (NASH).

The company is focused on developing novel molecules to target the adenosine receptors for the treatment of major unmet medical needs. Under the new agreement, Dr. Auchampach and his team will test Purnovate’s adenosine compounds in preclinical models.

Dr. Julien Dimastromatteo, Purnovate’s Vice President, Research, commented, “We are honored to partner with the Medical College of Wisconsin and Dr. Auchampach, a leading researcher in the field of adenosine, purinergic pharmacology and G-Protein-Coupled receptors. Adenosine analogs have been studied extensively by Dr. Auchampach and others, demonstrating tremendous promise in animal models. However poor biodistribution of historical compounds, likely due to poor solubility, has limited their usefulness as human therapies. Our Purnovate adenosine analog compounds were specifically designed to overcome these solubility and biodistribution challenges, with strong supporting data thus far. As a result, we are encouraged by the therapeutic potential of these compounds and will work to rapidly identify a lead compound to bring forward as a drug candidate.”

The adenosine compounds are meant to provide a safe, oral therapy option to reduce overall body mass and liver fat content while restoring healthier glucose levels. The company believes their compounds could hold significant potential as an alternative therapy for diabetics, pre-diabetics, and overweight individuals.

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.

Virongy Expands Focus Beyond HIV and COVID-19

Virongy, a Virginia biotech company, intends to expand their scope beyond their HIV and COVID-19 research. With millions of people being afflicted by viral illnesses worldwide each year, Virongy’s objective addresses an ever-increasing market need.

“Our goal is to create advanced diagnostics so that doctors can promptly prescribe treatments to patients,” said Brian Hetrick, chief scientific officer of Virongy.

The company already made striking advancements in HIV and COVID-19 research through the development of virological reagents and tools. These developments include:

HIV Rev-dependent Lentiviral Vector
- Able to selectively express therapeutic genes only in HIV-infected cells, providing the potential to develop therapeutic vaccines to target HIV reservoirs
HIV Rev-dependent Reporter Cells
- State-of-the-art HIV-indicator cells. The incredibly high specificity and accuracy in quantifying HIV infection improves anti-HIV drug screening, antibody screening, and anti-HIV compound screening.
Ha-CoV-2 and Ha-CoV-2 Variants
- Ha-CoV-2 represents a major technology advancement in the development of SARS-CoV-2 pseudoviruses, and serves as platforms for rapid and robust quantification of neutralizing antibodies, viral mutants, and antiviral drugs.

To support this growing scope of focus, Virongy has moved to a 1,600 sq ft bioscience lab within the new Northern Virginia Bioscience Center. Next steps include obtaining Good Manufacturing Practices (GMP) certification in order to open a GMP lab. The certification ensures that all products produced in the lab are safe and effective, as well as expedites the FDA approval process for any products the company intends to bring to market. Virongy anticipates having GMP certification within the next several months.

Are you developing new biotechnology 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.

FluxWorks Wins Texas A&M New Venture Competition

Rhode Island Patent of the Month - December 2021

FluxWorks, LLC, a Texas-based startup, has recently won the Texas A&M New Venture Competition, taking home the top prize at the state wide event. The company had to impress a panel of judges with a 20 minute pitch and Q&A session.

In addition to the $35,000 prize, the company made connections with 5 sponsors who they will continue to work with in the future. These sponsors include Aggieland Business Park, Brazos Valley Economic Development Corporation, Stibbs & Co., Knobbe Martens, and Versa Business Partners.

The startup was founded in 2021 with the intention of developing and commercializing magnetic gear technologies. These technologies are developed at the Advanced Electric Machines and Power Electronics Lab (EMPE) at Texas A&M University. These efforts culminated more than ten years of efforts of four generations of PhD students and millions of dollars of R&D yielding over 10 prototypes.

Machines with integrated magnetic gears are lighter, smaller, and less costly than any equivalent low rpm direct drive motor.

Bryton Praslicka, president and CEO of FluxWorks LLC, said they are pursuing the free drone market due to sector growth. With its magnetic gear technology, Praslicka said the company plans to reduce drone noise by 83% and reduce CO2 emissions by having more electric delivery drones up and running.

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.

Semperis Announces $200M Raised in Funding Round to Support R&D

Washington Patent of the Month - December 2021

New Jersey-based Semperis Inc. has raised over $200 million in a funding round led by KKR & Co. This round had a valuation substantially higher than the prior round and included investors such as Insight Partners and Ten Eleven Ventures.

“We are focusing on identity-driven cyber resilience and threat mitigation because in this new reality where companies are working remotely and accessing applications and assets in the cloud, putting everything behind a firewall no longer offers the same degree of protection,” said Semperis Chief Executive Mickey Bresman.

This new funding will support the company as it strives to expand its research and development team globally. With a larger team, development work will go towards protecting a customer’s entire cloud data.

Semperis’ technology is set to protect and empower organizations, providing them with the tools needed to make the right decisions without putting themselves at risk of operational disruption. The ability to say no to ransom and blackmail makes all the difference.

Are you developing new software 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.

Growcentia Announces Opening of New HQ and R&D Facility

Growcentia has announced the opening of their new Colorado headquarters positioned in Loveland’s Centerra area.

The company started at Colorado State University, with three soil microbiologists – Drs. Matthew Wallenstein, Colin Bell and Richard Conant – who set out to use nature to improve nature. Their biotech products deliver healthier plants with increased yield and quality. Their research explores how specific combinations of microbes work symbiotically with soil nutrients to produce healthier plants. These combinations reduce the need for chemical fertilizers which means reduced environmental and ecological impacts from farming.

Their research resulted in a patent, and following a seed investment round from M34 Capital in 2015, the founders licensed the patent from Colorado State University Ventures and operationalized Growcentia.

“Growcentia is proud to call northern Colorado home, and we look forward to expanding upon our nature-based growing solutions in this region. This new state-of-the-art facility will enable us to accommodate growth for the foreseeable future, heighten the complexity and diversity of our product lines, and expand R&D initiatives to serve both our national and international customers and truly change the way the world grows,” said Growcentia’s founders in a joint statement.

The new headquarters will occupy 30,000 sq ft of a commercial building and provide space for company operations ranging from management and manufacturing to research and development.

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.

Xoran Technologies Completes Phase 1 for their Mobile Lung CT Scanner

North Carolina Patent of the Month - December 2021

Xoran Technologies LLC is the leading innovator in compact, specialized medical CT scanners. They’ve pioneered the design and testing of low-dose radiation, cone beam CT scanners which are optimized for the patient’s point-of-care.

Xoran has just announced the successful completion of Phase 1 for their NHLBI (National Heart, Lung, and Blood Institute) grant for their mobile lung CT. This grant had been provided to support the company in their mission to commercialize their future open-bore CT products.

“This truly mobile device helps to support the diagnosis, triaging, and monitoring of the lungs of respiratory patients both in the intensive care unit, and in future respiratory pandemic situations,” explains Misha Rakic, Xoran’s CEO.

Along with the NHLBI grant, the company collaborated with doctors at the University of Michigan to expand the applications for their point-of-care imaging technology.

With their xCAT IQ™—an FDA 510k-cleared mobile CT system for bone and brain imaging, Xoran has shown capability in point-of-care CT solutions for the neuro intensive care unit (NICU) and the operating room. This new project allows Xoran to optimize a point-of-care solution specifically for lung imaging. The combined Xoran and University of Michigan team aims to develop a highly deployable CT scanner intended for use in ICU, especially for patients with acute respiratory failure requiring mechanical ventilation.

Doctors are often limited in their diagnostic capabilities based on the equipment available. They may make clinical decisions based on chest X-rays which can be limited in the information they can convey. Robert Dickson, MD, Associate Professor—Pulmonary & Critical Care Medicine, Associate Professor—Microbiology & Immunology, and a clinical collaborator, all at the University of Michigan says, “Our patients are often too sick to transport down to radiology, or they have a communicable disease like COVID-19 that we don’t want to spread around the hospital. A bedside scanner would have immediate impact in how we manage our sickest patients.”

Are you developing new pharmaceuticals 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.

Catalent Inc. Announces Plans to Invest $175M in their Manufacturing and R&D Facilities

North Dakota Patent of the Month - February 2022

Catalent, Inc., a multinational corporation who partners with various pharma, biotech, and consumer health companies, has announced their plans to invest $175 million into the expansion of their R&D facility in Clark County. This expansion will bring 277 new, high-wage jobs for Kentuckians.

The company intends to expand their existing 190,000 sq ft facility by adding an additional 90,000 sqft. This will increase their manufacturing capacity within their oral dose division. The company will also acquire a nearly 17,000 sq ft facility to house their R&D operations. Work is expected to begin in 2022 and wrap up in 2027.

This new facility will create job openings for scientists, manufacturing, quality assurance, maintenance, and warehouse positions. As a leader in enabling pharma, biotech, and consumer health partners to optimize product development, launch, and full life-cycle supply for patients around the world, Catalent is constantly engaging in R&D activities. They contribute broad and deep scale and expertise in development sciences, delivery technologies, and multi-modality manufacturing, Catalent is a preferred industry partner for personalized medicines, consumer health brand extensions, and blockbuster drugs. Catalent helps accelerate over 1,000 partner programs and launch over 150 new products every year. Its flexible manufacturing platforms at over 50 global sites supply more than 70 billion doses of nearly 7,000 products to over 1,000 customers annually.

“We look forward to further investing and growing in Winchester,” said Chris Rosenbaum, general manager of Catalent in Winchester. “The state of Kentucky’s talented workforce, tight-knit community and business environment provides major advantages to the future growth of Catalent.”

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.

Inceptor Bio announces $37M in Series A funding

Tennessee Patent of the Month - December 2021

Inceptor Bio, a biotechnology company advancing cell therapies for difficult-to-treat cancers, today announced the closing of a $37 million Series A financing led by Kineticos Ventures.

They have big goals for this funding, including their plans to:

Advance their CAR-T lead program to a Phase I clinical trial
Continue development of CAR-M
Continue development of CAR-NK
Complete construction of their Advanced Manufacturing Platform (AMP+) facility – a state-of-the-art cell and gene therapy GMP manufacturing site – in Gainesville, Florida.

Inceptor Bio’s CAR-T, CAR-M, and CAR-NK platforms are the center of their diversified portfolio of cell therapies. These therapies are focused on novel mechanisms to enhance cell performance in the tumor microenvironment. Novel technologies include a co-stimulatory domain M83, proprietary TMax manufacturing process, the K62 platform, which increases the phagocytic capabilities of macrophages and supports a M1 anti-tumor phenotype, and a differentiated iPSC technology.

Advancing thest technologies will require the expansion of their team as they work to onboard additional scientists and engineers to improve treatment options.

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.

Nuritas Announces Connecticut Headquarters in Plans to Expand into North America

Nuritas, an Irish biotech company, has announced their plans to set up a North American headquarters in New Haven. The location will be close to Yale in order to capitalize on the commercial and scientific talent and resources in the area.

Jean Claude Bacos, the Chief Commercial Officer for Nuritas, said some of the company’s Irish workforce will be relocating to Connecticut, including the Nuritas’ founder and chief executive officer, Nora Khaldi, who said the state “offers a unique quality of life for our employees.”

In addition to relocating some existing staff, the company intends to hire 12-15 people to expand their staff.

Through the use of artificial intelligence, Nuritas is on the lookout for bioactive peptides in familiar food sources. These peptides are protein fragments that benefit the body and health. Their use of AI to identify these peptides streamlines the process by substantially reducing the amount of time it takes to bring the next wave of plant-derived nutritional supplements to market.

“The fact that they are coming here, to this economic ecosystem is an endorsement of what we’re doing here,” said Josh Geballe, a senior associate provost for entrepreneurship and innovation at Yale University. “New Haven will continue to emerge as an alternative to major cities because of its affordability and quality of life.”

The company has built and scaled their own unique discovery platform over the course of the past 8 years, training it on years of proprietary experimental data. Development of the platform as well as processing of the discovered peptides are a source of constant R&D as the company strives to expand the industry’s capabilities.

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.