Massachusetts Recent News – Swanson Reed | Specialist R&D Tax Advisors

Sunbird Bio Secures $14M to Fund Diagnostic Platform

Sunbird Bio, a biotech firm based in Cambridge, has closed a $14 million financing round. The round saw participation from two new investors, Eli Lilly and Company and EDBI (the strategic arm of the Singapore Economic Development Board).

The company plans to use the funding to advance the clinical development of its diagnostic platform. In support of this, the company will open new laboratory space and initiate additional clinical studies of its diagnostic technology.

Sunbird was founded to address the growing need for improved diagnostic tests. Their technology focuses on improving reliability and sensitivity in diagnostic tests which will, in turn, accelerate drug development.

Sunbird has two core proprietary platforms – APEX and Glympse – which detect and measure proteins and protease activity which indicates the presence and activity of a disease.

Sunbird Bio said that it is actively securing partnerships with biopharma companies and others to advance the development of its platform and conduct clinical studies.

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.

Farmblox Expands from Maple Syrup to Vineyards

Shortly after raising $2.5 million, Farmblox Inc. has announced plans to expand their operations from maple syrup to vineyards and orchards. The agricultural monitoring startup develops AI-based solutions to monitor crops.

The company was founded in January of 2023, with rapid growth bringing them to 55 live farm customers. Farmblox says its platform has grown tenfold in the last year as customers adopt the technology at the forefront of addressing critical challenges posing significant threats to the global food supply.

Farmblox’s technology enables remote monitoring in all weather conditions, gathering data into a simple dashboard. With data at your fingertips, farmers can identify operational issues in moments.

The seed funding will enable expansion of both their operations and their technology. The company plans to offer data on soil moisture, soil CO2, soil temperature, leak detection, tank and silo levels, ambient temperatures, freeze risk, water usage, irrigation pressure, pump conditions, and weather conditions.

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.

Manifold Bio Secues $15M in Series A Funding

Massachusetts-based startup, Manifold Bio, has secured $15 million in funding to continue research into leveraging artificial intelligence to revolutionize cancer studies. The Series A funding round was led by TQ Ventures and saw participation from new investors including Calibrate Ventures and SK Ventures.

With a mission to modernize the tech infrastructure of clinical research organizations, Manifold Bio has developed an AI-based platform that streamlines manual workflows and reduces administrative burdens for cancer centers. This platform, known as the mDesign™ Platform, accelerates the time to insights from months to minutes, marking a significant advancement in cancer research.

Vinay Seth Mohta, CEO and co-founder of Manifold Bio, highlights the critical need for such innovation in healthcare. By moving away from legacy technologies like Excel spreadsheets, Manifold Bio aims to provide researchers with a purpose-built tech infrastructure that enhances efficiency and productivity.

Supported by this latest funding round, Manifold Bio is poised to expand its partnerships with healthcare organizations and invest in research and development to further enhance its platform’s capabilities. Early adopters, including Indiana University Melvin and Bren Simon Comprehensive Cancer Center and Winship Cancer Institute of Emory University, have already witnessed the transformative impact of Manifold Bio’s technology.

One of the key features of Manifold Bio’s platform is its ability to unify vast amounts of healthcare data into a single platform, facilitating seamless collaboration and data analysis. This not only accelerates research studies but also reduces costs and manual efforts associated with traditional research workflows.

Anna Maria Storniolo, M.D., medical director at IU Melvin and Bren Simon Comprehensive Cancer Center, praises Manifold Bio’s platform as a game-changer in cancer research. With the ability to respond to research requests in minutes rather than weeks, researchers can now conduct studies with unprecedented speed and efficiency.

Looking ahead, Manifold Bio remains committed to pushing the boundaries of AI technology in healthcare. With a focus on advancing data curation and analysis, Manifold Bio aims to empower researchers with even more advanced tools and capabilities in the near future.

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.

What is the R&D Tax Credit?

The Research & Experimentation Tax Credit (or R&D Tax Credit), is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The credits are a tax incentive for performing qualified research in the United States, resulting in a credit to a tax return. For the first three years of R&D claims, 6% of the total qualified research expenses (QRE) form the gross credit. In the 4th year of claims and beyond, a base amount is calculated, and an adjusted expense line is multiplied times 14%. Click here to learn more.

R&D Tax Credit Preparation Services

Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed provides state and federal R&D tax credit preparation and audit services to all 50 states.

If you have any questions or need further assistance, please call or email our CEO, Damian Smyth on (800) 986-4725.
Feel free to book a quick teleconference with one of our national R&D tax credit specialists at a time that is convenient for you.

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creditARMOR is a sophisticated R&D tax credit insurance and AI-driven risk management platform. It mitigates audit exposure by covering defense expenses, including CPA, tax attorney, and specialist consultant fees—delivering robust, compliant support for R&D credit claims. Click here for more information about R&D tax credit management and implementation.

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Swanson Reed offers R&D tax credit preparation and audit services at our hourly rates of between $195 – $395 per hour. We are also able offer fixed fees and success fees in special circumstances. Learn more at https://www.swansonreed.com/about-us/research-tax-credit-consulting/our-fees/

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Reprieve Cardiovascular Secures $42 Million Series A Financing for Intelligent Fluid Management in Heart Failure

Reprieve Cardiovascular, Inc., a trailblazing company dedicated to innovating intelligent automated diuretic and fluid management solutions for acute decompensated heart failure (ADHF) treatment, has successfully raised $42 million in a successful series A financing round. The funding, co-led by Lightstone Ventures and Sante Ventures and joined by Deerfield Management, Genesis Capital, and Arboretum Ventures, marks a significant milestone for the company, propelling its clinical and development programs, including the ongoing FASTR trial and an upcoming pivotal trial.

Heart failure affects over 6.7 million Americans today, with ADHF causing unplanned office visits, emergency room trips, or hospitalizations due to sudden or gradual onset symptoms. Recognizing the critical need for advanced treatment options, Reprieve Cardiovascular is on a mission to transform heart failure care.

The Reprieve System aims to personalize decongestion management effectively. By monitoring physiological parameters such as urine output, the system delivers personalized diuretic dosing and fluid replacement for ADHF patients. This intelligent approach seeks to improve patient outcomes, prevent hospital readmissions, and address the challenges posed by the standard diuretic treatment option, which has remained largely unchanged for 60 years.

Mark Pacyna, CEO of Reprieve Cardiovascular, emphasized the significance of bringing intelligent decongestion management to heart failure patients. The Reprieve System offers physicians and care teams real-time visibility and control, enhancing the overall treatment process.

The company’s growth is not only reflected in its innovative solutions but also in its expanded leadership team, which includes domain experts in product development, regulatory affairs, clinical strategy, and commercialization. Mark Pacyna, with his extensive experience from Medtronic, leads this team, and the series A funding reaffirms the belief in Reprieve’s potential to revolutionize heart failure treatment globally.

Jan Garfinkle, Founding and Managing Partner of Arboretum Ventures, expressed excitement about Reprieve’s emergence from stealth mode, highlighting the pivotal trial ahead. The series A funding signifies a collective belief in Reprieve’s team and the necessity for technology that can significantly impact the lives of ADHF patients worldwide.

Reprieve Cardiovascular, headquartered in Milford, Massachusetts, is on a mission to bring intelligence to decongestion management, providing hope for more than 25 million heart failure patients globally. The ongoing FASTR trial is a testament to the company’s commitment to advancing innovative therapies and transforming heart failure care.

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.

Akkio Raises $15M in Series A Funding

Akkio, Inc., the Massachusetts-based trailblazer in AI technology, has secured a significant milestone with a $15 million series A funding round led by Bain Capital Ventures and Pandome, Inc. This infusion of capital, totaling $18 million for Akkio, is a resounding endorsement of their vision. The funds will serve to fast-track the commercialization of Akkio’s transformative AI platform, promising users an intuitive AI assistant to revolutionize data-driven decision-making.

The company’s standout proposition lies in its no-code platform, a game-changer for enterprises seeking to harness the power of AI. By simplifying AI development and deployment, Akkio empowers business analysts to swiftly integrate AI capabilities into their workflows, unlocking insights that drive growth. Tasks as diverse as fraud detection, sales funnel optimization, and churn reduction can now be empowered with AI’s predictive prowess, without the need for extensive coding expertise.

Akkio’s dedication to innovation is palpable through its AI-driven enhancements. Among these is the chat data prep feature, enabling seamless automation of data cleaning and preparation through natural language conversations. The Chat Explore capability further empowers data analysts by enabling interactions with data using GPT-4, fostering the identification of patterns and dynamic visualization creation. The Forecasting model is another jewel in Akkio’s crown, predicting inventory availability and sales performance based on real-time data analysis.

The company’s customer roster already boasts heavyweights like Ellipsis Marketing, AngioDynamics, and Standard Industries. These businesses, among hundreds of others, are leveraging Akkio’s AI-enabled solutions to augment internal processes and elevate decision-making efficiency.

Akkio’s ascent aligns with the growing trend of no-code AI development, a response to the surging demand for AI capabilities amid a dearth of data science talent. This arena has seen contenders like Google AutoML, Obviously AI, and Fritz AI emerge. According to Gartner, nearly two-thirds of app development is expected to transition to low-code/no-code solutions by 2024.

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.

Early Stage Cancer Detection Company, Mercy BioAnalytics, Secures $41M in Series A

Mercy BioAnalytics, a company developing early-stage cancer detection technology, has raised $41M in Series A funding.

The round was led by Novalis LifeSciences, with participation from Sozo Ventures, Hatteras Venture Partners, iSelect Fund, American Cancer Society BrightEdge, Broadway Angels, Labcorp and Bruker.

The company intends to use the funds to advance development and commercialization of its Halo test, for high-risk lung cancer screening, its lead clinical indication, and to advance clinical programs in additional indications, including ovarian cancer.

The earlier cancer is detected, the greater the chances of beating it. Mercy BioAnalytics’ Halo Test is designed as a non-invasive, blood-based assay which analyzes single extracellular vesicles. These vesicles exist at high abundance in circulation, even when cancer is in its early stages. Since these vesicles are tumor-specific, the analysis can be run with incredible specificity and accuracy. Mercy’s initial focus is the early detection of ovarian and lung cancers.

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.

Blustream Corp Secures $5.2M in Series A Funding

Massachusetts-based Blustream Corp. has announced the successful close of their Series A funding round which brought in $5.2 million. The company is developing the technology needed to connect companies to customers through product engagement.

The funding round was led by PBJ Capital of Lincoln and Gutbrain Ventures of Boston with participation from existing investors, including The Zenie Group of Maine and York IE of New Hampshire, the company announced on Tuesday.

Blustream began when its founder, Bob Bean, had a product problem and no solution. With a crack in his beloved guitar and no way to fix it, he tried to reach out to Bob Taylor, the President of Taylor Guitars to try and find a solution. In the same breadth, he realized how much this connectivity is needed across any market. Thus was born the mission to connect companies and customers via product engagement, reducing the need to worry about broken, cracked, and failing products.

What came next was years of building the startup, raising $3 million in funding in 2020 and now the recent Series A round. The latest funding is earmarked for product development and expansion into new industries. This includes investments in their R&D department as well as the expansion of their sales and marketing staff.

Customer-engagement is built with personalized product messages and tracking after-sale product engagement data. With product engagement data, companies can create a direct channel with their customers to drive revenue, retention, and referrals.

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.

Entegris has Opened their New Life Sciences Technology Center

Entegris has announced the opening of their new Life Sciences Technology Center in Billerica, Massachusetts.

This new facility will provide life science customers with the opportunity to leverage Entegris’ cold-chain supply expertise and increase the speed to market for their clinical products. The center will provide the space needed to bring tools and technologies together to support the testing of freezing and thawing processes.

Entegris works with leading manufacturers to support and enable advancements in technology. This includes strategically placed manufacturing sites, R&D facilities, and customer support centers. The new facility serves to bridge a gap in their network and further support development efforts.

Entegris’ products and solutions include:

Filtration products that purify gasses, fluids, and the ambient fab environment
Liquid systems and components that dispense, control, analyze, or transport process fluids
Gas delivery systems that safely store and deliver toxic gasses
Specialty chemistries for deposition and cleaning at advanced nodes
Wafer carriers and shippers that protect semiconductor wafers from contamination and breakage
Specialty coatings that provide high-purity surfaces for wear-resistance, corrosion protection, and smoothness
Premium graphite and silicon carbide for high-performance applications
Shippers and trays for protecting and transporting disk drive components

With the newly offered Aramus-shaped 2D single-use bags, customers can customize shapes, sizes, and assembly configurations to better suit their available space and function requirements. This provides a more robust solution to match any customer’s manufacturing requirements. They have been designed to be resistant to extreme cold temperatures and to withstand gamma sterilization, making them an option for freezing, transporting, storing and thawing drug substances like COVID-19 vaccines, cell therapies and gene therapies.

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.

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.

Astellas Pharma Inc. to Fund LabCentrals Future Innovator Prize

Mississippi Patent of the Month - August 2021

Astellas Pharma Inc. has partnered with LabCentral – a launchpad for early stage life science startups – to fund and encourage innovation in the industry. Through their subsidiary, Astellas Venture Management LLC, they will collaborate on the “Future Innovator Prize” which goes towards entrepreneurial scientists. The prize goes beyond funding, offering one-year usage of LabCentral’s state-of-the-art facility in Cambridge and access to Astellas’ R&D capabilities and business leaders.

Collaborations like this provide the chance for startups to fund and engage in R&D to advance the industry. Companies can submit their proposals until September 13, at which point they will be reviewed by a selection committee. 5 finalists will be selected to pitch in front of Astellas senior leadership on October 28th. Of these, the prize will be awarded to two pioneering scientists with innovative research that complements Astellas’ areas of interests, including oncology, immunology, and neuroscience.

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.