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IEDA Awards Funding to Four Iowa Startups

The Iowa Economic Development Authority (IEDA) has approved innovation funding for four local Iowa startups. This funding totals $275,000. They also approved awards for the established company, Ag Processing Inc. which should result in $71.1 million in new capital investment for the state.

Mazen Animal Health, Inc

Mazen Animal Health develops oral animal vaccines to prevent animal disease. These vaccines are edible, formulated to be dosed with feed in order to simplify the animal vaccination process and provide a cost-effective, room-temperature option for animal vaccines.

The company was awarded $125,000 from a Demonstration Fund loan for IP development and evaluation and will also contribute to marketing planning, entry activities, staff costs and more.

NanoSpy, Inc

NanoSpy produces biosensors for rapid detection of Salmonella in food processing facilities. This detection method aims to reduce the economic impact of foodborne illness. Current processes require a two-day period before lab results are finalized. NanoSpy’s technology should allow for near real-time decisions.

They were awarded a $25,000 Proof of Commercial Relevance (POCR) loan.

Townhall, LLC

This EdTech software development company is focused on creating desktop-based apps to improve video conferencing. Their goals are to increase engagement during large remote meetings regardless of platform and will achieve this through gamification and instant feedback.

Townhall received a $25,000 POCR loan.

Lola’s Fine Sauces, Inc

Starting from a family’s secret hot sauce recipe, Lola’s Fine Sauces has expanded to seven sauces, five salsas, a seasoning mix, and a Bloody mary mix. They have engaged in constant formulation and testing to reach the point of selling products in more than 10,000 stores nationwide.

The company was awarded a $100,000 Demonstration Fund loan to refine their product and further their commercialization.

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.

Astra Reaches Orbit

California-based Astra has successfully launched their rocket into orbit from the Pacific Spaceport Complex on Alaska’s Kodiak Island. This launch was performed with a dummy payload as a test flight for the US military.

Astra is striving to secure a large portion of the small-satellite launch market with their line rockets. These rockets have been designed to be both responsive and flexible. Astra further sets themselves apart with a launch system which can be transported in just a few standard shipping containers.

This launch was Astra’s fourth orbital test flight, and the first to successfully reach orbit. Prior iterations on the design saw complications in the guidance system, fuel capacity, and engine stability. Between each design, the company returned to the design to make modifications and improve structural integrity and chance at success.

The company plans on ramping up spaceflight action to the tune of daily launches by 2025. Astra’s ambitions extend beyond building and launching rockets. For example, the company is also developing its own satellite bus, which will allow customers to integrate their payloads into a spacecraft they don’t have to build themselves.

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.

TriAltus Bioscience Launches Proprietary Protein Purification System

TriAltus Bioscience, LLC recently launched its new CLīM™ Affinity Tag System as a service.

TriAltus develops innovative tools for the production and purification of genetically-engineered proteins. Their CLīM™ Affinity Tag System provides an ultra-high-affinity purification system that allows for HHH purification of a wide range of challenging biological molecules like eukaryotic, membrane, toxic, and DNA binding proteins.

Moving their Affinity Tag SaaS is an important step as TriAltus works towards supporting their customer’s research efforts as efficiently as possible. This provides clients with customized solutions that remove bottlenecks in the protein purification process.

The company’s custom protein production service offers research labs a reliable extension of their in-house teams which streamlines their research efforts and offers a greater reliability in the proteins being used. Typically, a company goes through a time intensive and expensive process to get the required proteins for their research. TriAltus can deliver a clone of the desired expression construct rapidly. This improved speed is due to the proprietary one-step chromatography purification protocol. Speeding up this process removes bottlenecks in the protein purification process, and hopefully helps to advance a company’s research portfolio.

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.

Nuro Inc. Secures Funding for Autonomous Vehicle Expansion

Nuro, Inc. has completed a successful investment round, totalling $600 million, with some of this coming from Kroger Co.

California-based Nuro is a robotics company working towards the development of a self-driving vehicle designed specifically to deliver groceries. Their vehicles have been tested in pilot programs for delivering pizza and groceries.

With the $600M in funding, the company is set to grow, using the capital influx to accelerate the development and deployment of their autonomous vehicles across the country.

“We’re thrilled to have the backing of these prominent investors and world class companies, and honored that they support our vision of improving communities and revitalizing local commerce,” Nuro co-founder and president Dave Ferguson said in a news release. “We believe this investment will allow us to accelerate our commercialization strategy and better everyday life with Nuro’s technology.”

Nuro has designed their vehicles to drive in neighborhoods, and programmed them to always prioritize others safety first since they only carry goods. This overcomes one of the key problems faced by other autonomous vehicles which is how to balance safety of passengers with safety of external people or other cars.

Are you developing new technolgoy 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.

Avrio Analytics Forges New Training Path with AR-Based Firefighter Training Tool

Avrio Analytics is a Tennessee based technology company that provides programs meant for mission-critical operations. They have developed Forge, an augmented reality training tool for firefighters. Avrio has just announced the release of Forge as a full customizable program.

Avrio has developed the program to utilize AI and biometric training to provide hands-on training in realistic, digital environments, allowing firefighters in training to experience simulated emergencies.

In emergency situations, firefighters need to be ready with skills such as communication, situational awareness, and response tactics. Often, in the heat of the moment, these can be forgotten as the firefighter experiences shock. By engaging and training with Avrio’s emergency simulator, they can have tailored training to improve an individual’s abilities.

Their AI program, Forge, is the first augmented reality 360° size up simulator and provides fully 3D, immersive scenarios. They can be structured at full scale so that the firefighter must physically walk around the building and perform a real-life size-up of the situation. It can allow multiple firefighters to partake in the simulation at once, training them in the aspect of working together.

Avrio has directed their R&D efforts to help these mission critical operations, developing both fire and police training to improve safety and efficiency. Their systems not only simulate real-world emergency scenarios, but also utilize bespoke data analysis to ensure responses and outcomes are truly accurate.

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.

Kinsley Energy Systems to Aid in Cannabis Cultivation for PA Options for Wellness

Kinsley Energy Systems have been selected to supply a high-efficiency combined heat and power (CHP) and chilled water system for the Lab Energy Cogeneration Plant by the PA Options for Wellness (PAOFW). PAOFW is a medical cannabis provider and research company.

The cogeneration plant is fueled by liquified natural gas (LNG) and operates independently from the electric grid. It serves as the sole source of electric power and thermal energy to the PAOFW medical cannabis cultivation facility. Working in collaboration with their Accredited Clinical Research Center, Pennsylvania State University (Penn State), Hershey Medical Center, PAOFW has established research as a primary mission, emphasizing individual patient care, treatment, and outcomes in developing their medicinal cannabis projects.

Kinsley Energy Systems is a value-added equipment and service provider for the highest-quality distributed energy systems. They are expecting to have a full commissioning of the cogeneration system in January of 2022. Their package will consist of four TEDOM cogeneration units, backup boilers, high-efficiency magnetic bearing electric chillers, and closed-circuit cooling towers with associated pumping systems. This design implements built-in redundancy components to reduce energy costs, cust carbon emissions, and ensure cultivation resilience within the facility.

Tom Trite, CEO of PAOFW, said, “We selected Kinsley because they offered competitive cost, valuable technical support during project development and local service throughout the plant’s life.”

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.

AAON Acquires BasX

Mississippi Patent of the Month - August 2021

AAON, Inc., an Oklahoma-based company specialized in energy efficient HVAC products for nonresidential buildings has announced their plans to acquire BasX, LLC.

BasX, also known as BasX Solutions, manufactures data center cooling solutions, cleanroom systems, custom HVAC systems and modular solutions. This acquisition will provide a great launching point for AAON to dive into end-markets. BasX is already well-known to these end-markets. In addition,

“Upon closing this acquisition, we will continue to advance our long-term strategy of focusing on innovative, semi- custom and custom, energy efficient HVAC solutions for nonresidential applications”, commented Gary Fields, AAON’s President and Chief Executive Officer.

The acquisition will align AAON with their long-term growth and development plans as they work to expand their market holding. Through AAON’s technology and the highly engineered, customized products of BasX, they are set to further improve existing HVAC technologies and bring new innovation to the market.

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.

Tiamat Set to advance Lab Grown meat Industry with $3M Seed Funding

Tiamat Sciences Corp. has just announced they have secured $3 million in seed financing through a funding round led by True Ventures. Tiamat is a biotechnology company focused on developing more cost-effective biomolecules to replace more costly bioreactors.

As more companies are looking into the development of lab-grown meats, the limitations of the industry become more apparent. The lab grown meat is made through cellular agriculture, however the traditional ways of making the required growth factors and reagents can be quite costly itself.

Tiamat is focused on the development of more cost-effective biomolecules to replace more costly bioreactors and reduce the cost of lab-grown meats from $50 down to $3 per pound.

France-Emmanuelle Adil, the company’s CEO, said “The growth factors used in media are expensive right now. We can reduce costs drastically and reach price parity with meat.”

Adil estimates that today’s growth factor costs $2 million per gram to make, but she believes that with efforts from Tiamat Sciences and others, that cost could come down 10 times with a focus on making it 1,000 times cheaper by 2025 so that large-scale production can proceed.

Thanks to a prior funding round, where the company brought in $400,000, Tiamat was able to expand into North Carolina. The combined $3.4 million will aid in building a pilot production facility in Durham as well as funding the technology development. Their designs have them well on their way to carbon-neutral production.

Growth factors are not limited to the food industry, and may be transferable to other industries such as regenerative medicine and vaccine production.

Phil Black, co-founder of True Ventures, said the investment into Tiamat Sciences fit into its plant-based portfolio. The initial money raised by the company allows them to prove to people that their technology works and to produce it at the trial level. Then will come a much larger round to scale up from liters to gallons.

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.

ANI Pharmaceuticals Completes Acquisition of Novitium Pharma

ANI Pharmaceuticals, Inc. has successfully completed the acquisition of Novitium Pharma, a New-Jersey-based pharmaceutical company.

Based in Baudette, Minnesota, ANI Pharmaceuticals is an integrated specialty pharmaceutical company developing, manufacturing, and marketing high quality branded and generic prescription pharmaceuticals.

With the combined forces of Novitium and ANI Pharmaceuticals, the company is looking forward to expanded R&D capabilities. The acquisition brings aboard a world-class R&D engine in the generic and 505(b)(2) sectors as well as a highly-compliant US based manufacturing facility. With these additions, they are well positioned for sustainable growth.

“ANI is thrilled to welcome the expertise and leadership of Novitium’s founders, Samy Shanmugam, Chad Gassert and Vijay Thorappadi, along with over 100 talented and dedicated employees, who have joined the ANI team. Our robust product pipeline includes several more CGT and 505 (b)(2) candidates and will be further expanded to maximize the value of our bolstered R&D engine,” said Nikhil Lalwani, President and Chief Executive Officer of ANI.

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.

Rove Expands Cannabis Products into Massachusetts

Rove, a legacy cannabis manufacturer, has launched its award-winning cannabis products to dispensaries across Massachusetts. This product line includes six black box vape SKUs and another 7 will be launched this winter. The following year will see the launch of live resin, infused pre-rolls and other award-winning products into the state. They have also partnered with Cloud Creamery to facilitate this Massachusetts market-entry.

Rove has been committed to developing best-in-class cannabis products. To ensure customers have a full understanding of the products they are using, each product has a QR code which details terpene content and guarantees authenticity. This prevents the chance of fraudulent products making the rounds.

In order to achieve these best-in-class results, Rove has committed to formulating each product in house through their extensive R&D processes. Their Massachusetts products are handmade locally by Massachusetts residents and formulated with absolutely zero fillers.

While new to Massachusetts, Rove originally launched in California and has become the number-one-selling vape brand in Nevada. It is seeing exponential growth in new markets Michigan, Oklahoma and Arizona. In addition to vapes, Rove produces flower, pre-rolls, concentrates and hemp CBD products.

Are you developing new formulas for existing products? 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.