Industry – Page 26 – Swanson Reed | Specialist R&D Tax Advisors

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.

Vitti Labs Announces FDA Approval for Phase II IND Clinical Trial

Vitti Labs LLC, a research and development tissue bank, has announced FDA approval of their Phase II investigational new drug (IND) clinical trial. With this approval, they can move forward with a Phase II Outpatient Clinical Trial using a combination of Umbilical Cord Mesenchymal Stem Cells and Mesenchymal Stem Cell Exosomes to treat Pulmonary Fibrosis secondary to COVID-19.

COVID-19 commonly results in the presence of one of two respiratory manifestations. The first manifestation is a significant reduction in the diffusing capacity of the lungs (FLCO). The second is associated pulmonary interstitial damage. Even a full year after a recovery from COVID-19, the incidence rate of impaired DLCO and persistent lung damage is still over 30%. These persistent complications have caused substantial population morbidity, long-term disability, and even death due to the fibrotic lung progression.

With this study, Vitti Labs believes they will be able to move forward with much needed treatment modalities for these and other respiratory and pulmonary diseases. Vitti Labs is the first to bring a Phase II trial for this treatment using these therapeutics.

The company harvests biomaterials from the umbilical cord and placenta, using their properties to activate and support the repair of the body. They harvest through the bio-ethically donation of birth tissue from healthy and consenting mothers across the United States.

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.

Bucha Bio’s Biodegradable Textile Could Replace Leather and Latex

“As a material designer, I am always curious about new processes. Inspired by nature, made in the lab, Bucha’s grown materials have an unexpected beauty.”

You may have heard talk of plant-based alternatives being essential to the prosperity of our world. When you hear these sentiments, your mind probably wanders to plant-based diets and giving up meat. Bucha Bio, Inc. has a different approach in mind.

As a collective, we still use animal products outside of the kitchen – from fashion to furniture. Zimri T. Hinshaw started a biotech company with the intention of designing and selling petrochemical-free materials as a leather alternative for use in the fashion industry. After initial success, he decided this had greater potential and shifted gears to create a plant-based, sustainable, customizable material that could replace anything from leather to latex.

With an initial startup process of growing and drying sheets of kombucha SCOBY (symbiotic culture of bacteria and yeast) in his dorm room, the company has since scaled production up. Through serious R&D, and over 20 different iterations, they have developed a production system that consumes minimal water and emits no greenhouse gasses or toxic waste products.

This material can be grown in a matter of weeks, a significant improvement when compared to the years, energy, and products required to raise an animal to an appropriate size.

This process has led Bucha Bio to the creation of their Shorai™ material, made from bacterial nanocellulose and 100% plant-based components. The textile is completely biodegradable with no petrochemical or plastic additives. In addition to this impressive feat, the textile is water-resistant, scratch-resistant, sunlight-resistant, and flame-resistant.

In addition to a $250,000 investment from SOSV’s IndieBio accelerator in New York City, Hinshaw recently raised $550,000 from New Climate Ventures, along with other VCs and angel investors.

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.

Repaytient Joins Village Capital Finhealth Cohort

Alaska Patent of the Month - September 2021

Repaytient, a Kentucky-based startup, has been selected for Village Capital’s Finhealth U.S. cohort.

The company has joined the cohort of early-stage companies who have been selected for their fintech solutions. Each of these companies are focusing on developing solutions for low-to-moderate income communities and small businesses.

Repaytient specifically seeks to offer customizable, interest-free payment plans to help patients pay for out-of-pocket medical expenses while simultaneously increasing a hospital’s cash flow. The company is the only one in the cohort focused on the healthcare space.

The accelerator’s goal is to set up companies to be able to raise their next round of capital. With Village Capital’s support, Repaytient is gearing up for this fundraising round in 2022.

The company recently received $100,000 from Render Capital and $25,000 from Kentucky Science & Technology Corp. This capital is in addition to the $100,000 from private investors who helped to start the business in 2020.

Repaytient has hit quite a few milestones in the 18 months since its founding. They launched their first hospital in November 2020 and has since landed six contracts with more in negotiation, while also expanding its partnership with Alliant Management Services, a Louisville-based company that specializes in rural hospital management. They hope next year’s funding round will help to accelerate the growth of the business.

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.