North Carolina – Swanson Reed | Specialist R&D Tax Advisors

Wolfspeed Secures $750M for New Facility

Wolfspeed, Inc., an American developer and manufacturer of wide-bandgap semiconductors, is set to receive up to $750 million in federal funding to construct a new facility in Siler City.

The Durham-based manufacturer was approved for funding through the CHIPS and Science Act as the facility will provide space for silicon carbide (SiC) wafer manufacturing. The facility will help to create over 5,000 new jobs including 2,000 in manufacturing and 3,000 in construction.

Wolfspeed is focused on developing SiC technology to create a more sustainable future without compromising on innovation. Their existing portfolio ranges from power devices like MOSFETs, Diodes, and Modules to material products like Substrates and Epitaxial layers.

“North Carolina is leading the way in semiconductor manufacturing, and I’m proud to have worked alongside Reps. Ross and Foushee to support Wolfspeed’s defense appropriations requests over the past two years,” Rep. Wiley Nickel said in a statement. “This funding will not only strengthen our national security by reducing reliance on foreign supply chains, but it will also bring thousands of good-paying jobs to our state and help support working families.”

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.

Pathalys Pharma Secures $105M in Series B

Pathalys Pharma, a startup based in North Carolina, has raised $105 million in Series B funding. The round was led by TCGX and joined by other notable investors including, JP Morgan Life Sciences Private Capital, Samsara BioCapital, Marshall Wace, KB Investment, JPS Growth Investment Limited Partnership, and included support from Pathalys’ founding investors, Catalys Pacific and DaVita Venture Group.

Pathalys is building biotech focused on fighting kidney disease through their top candidate – upacicalcet. This candidate is a potentially improved calcimimetic for the treatment of SHPT (secondary hyperparathyroidism). A calcimimetic imitates the effects of calcium on tissues, making them excellent tools for treating problems linked to calcium homeostasis or skeletal integrity.

Upacicalcet is a novel calcimimetic which would be delivered intravenously after hemodialysis. If it operates properly, it would reduce levels of PTH and improve the tolerability profile for patients. The candidate has moved into Phase 3 Studies, with two identical 375-person trials.

The biotech stated that the additional funding will be utilized to complete those studies, start the process of getting ready to submit an application for FDA approval, and “accelerate preapproval commercialisation preparations.”

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.

SelSym Biotech’s Breakthrough: Synthetic Platelets to Control Bleeding

SelSym Biotech, a startup pioneering in biotechnology, is on a mission to transform hemostasis with its groundbreaking development of synthetic platelets. Traditional platelets, essential for clotting and stopping bleeding, are in perpetual short supply due to their short shelf life. Recognizing this critical challenge, SelSym Biotech has unveiled a revolutionary solution: synthetic platelets.

Led by Ashley Brown, Ph.D., a biomedical engineer at North Carolina State University (NCSU), SelSym Biotech’s research team has developed tiny bits of ultra-soft hydrogel, termed platelet-like particles (PLPs), equipped with antibodies that bind directly to fibrin, a protein found at the wound site. These PLPs mimic the function of natural platelets, effectively stopping bleeding when they come into contact with fibrin.

The potential of SelSym’s synthetic platelets extends beyond addressing donor shortages. Unlike natural platelets, which have a short shelf life and require specific storage conditions, PLPs offer a longer shelf life and can be stored at room temperature, making them easier to transport and distribute, especially in remote or challenging-to-reach locations.

SelSym’s approach minimizes the risk of off-target blood clot formation, ensuring safety and efficacy in clinical applications. Promising results from studies conducted in mice, rats, and pigs demonstrate the effectiveness of PLPs in stopping trauma-induced bleeding without adverse effects.

With support from grants and ongoing research collaborations, SelSym Biotech is advancing towards clinical trials, aiming to translate its innovative technology into practical solutions for preventing unnecessary deaths due to uncontrolled bleeding.

SelSym Biotech’s journey exemplifies a commitment to overcoming critical challenges in medicine, offering hope for improved clinical outcomes and transforming the landscape of hemostasis with synthetic platelets.

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.

Siftwell Analytics: Revolutionizing Healthcare Through Data Insights

Siftwell Analytics, Inc., a digital health company specializing in community health plans, has secured a substantial $5.8 million in its inaugural venture capital funding round. The funding round marks a pivotal moment for the company as it harnesses the power of machine learning and AI to proactively enhance member outcomes.

Venture capital firms AlleyCorp, Arkin Digital Health, Tau Ventures, and The Charlotte Fund have all joined forces to support Siftwell in this endeavor, showcasing a collective belief in the company’s potential. The infusion of funds is earmarked for further product enhancement, signaling an exciting phase of growth for Siftwell.

Currently operating in four states – Idaho, Montana, Wyoming, and North Carolina – with expansion plans for New Jersey and Arizona, Siftwell focuses on major health conditions such as COPD, depression, hypertension, and obesity. The company’s unique approach involves leveraging machine learning and AI to identify at-risk individuals, thereby improving quality scores and cost profiles.

iftwell envisions incorporating more health-related social needs or SDOH factors into their datasets, making them even more actionable. The commitment to addressing the diverse aspects of population health is evident in their expansion plans and the company’s proactive stance in utilizing cutting-edge technology.

Siftwell’s innovative methodology involves analyzing a plethora of data, including claims, health risk assessments, and call center data. The incorporation of social determinants of health (SDOH) factors, such as access to food, transportation, housing, and employment, enables the company to glean valuable insights. This data is then subjected to machine learning processes, revealing patterns that determine compliance with quality score measures.

The company’s ability to categorize members into unique groups, guided by artificial intelligence, facilitates tailored and efficient healthcare solutions. Through precise identification of individuals at risk, Siftwell empowers health plans to intervene proactively, resulting in improved quality measures and health outcomes.

Siftwell’s impact extends beyond the traditional realms of healthcare analytics. By defining data twins and identifying virtually identical clusters with a single intervention factor, the company provides health plans with actionable insights. This approach enhances the efficiency of health plans, urging members to seek specific interventions like primary care visits.

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.

Jellatech’s Innovative Approach to Collagen Production Gains Momentum

Jellatech, a collagen startup, has raised $3.5 million to scale up their lab-grown production.

Collagen, often dubbed the “fountain of youth,” is a crucial protein that plays a vital role in maintaining skin elasticity and overall health. Traditionally, collagen has been sourced from animal byproducts, a process that raises ethical concerns and environmental issues. Jellatech recognized these challenges and set out to revolutionize the collagen production landscape.

The company’s approach is as innovative as it is ethical. Jellatech harnesses the power of cellular agriculture, using advanced biotechnology to cultivate collagen from sustainable sources. This process not only eliminates the need for animal-derived collagen but also ensures a consistent, high-quality product that meets the growing demand in the skincare and nutraceutical markets.

Jellatech’s recent fundraising success, highlighted by its ability to secure significant financial backing, underscores the industry’s recognition of the company’s transformative potential. With this funding, Jellatech is poised to accelerate its research and development efforts, bringing sustainable, lab-grown collagen products to consumers sooner than ever.

The implications of Jellatech’s innovations are far-reaching. Beyond the skincare and nutraceutical sectors, lab-grown collagen has the potential to disrupt various industries, including medical and pharmaceutical. As the company continues to refine its production processes and expand its product offerings, the possibilities for collagen-based solutions are limitless.

In a world increasingly concerned with sustainability and ethical consumption, Jellatech’s commitment to responsible collagen production positions it as a leader in the biotechnology space. By leveraging cutting-edge research and development, the company is not only meeting the demands of today but also shaping the future of collagen-based products.

As Jellatech forges ahead with its mission to revolutionize collagen production, the skincare and nutraceutical industries are in for a remarkable transformation. Consumers can look forward to ethically sourced, high-quality collagen products that promote both personal wellness and environmental stewardship. With each breakthrough, Jellatech moves one step closer to redefining an entire industry and setting a new standard for sustainable biotechnology.

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.

Myodenovo Secures $105K for Tender Cultivated Meat

Myodenovo has secured $105,000 in funding from its first two investors: Sustainable Food Ventures and Sweet Farms. The North Carolina-based cultivated meat startup is focused on cultivated whole cuts with “realistic texture”. Their first target? Filet mignon.

The company has recently emerged, based in BioLabs NC. Founder and CEO, George Engelmayr, has worked for Merck, Humacyte, VitroLabs, and Mission Barns, showing an impressive background in biomedical engineering, regenerative medicine, and cultivated meat.

The new capital will enable the startup to cover general corporate expenses, including payments of director’s fees and salaries to employees while continuing their development efforts.

Myodenovo takes a scaffolding approach to guide and nurture the cultivated meat’s growth. They curate nutritious, sustainable scaffolds which directly inform the texture of each cut. The meat is cultivated and grown in bioreactors, creating the tenderness we all love in a nice cut of steak.

To kickstart operations, the startup aims to raise $2 million in a pre-seed round to be completed in the next 18 months. Additionally, the company announced plans to grow a bigger medallion for a future tasting later this year.

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

Who We Are:

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

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

Pearlita Foods Unveils Plant-Based Oyster Prototype

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

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

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

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

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

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

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

Who We Are:

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

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

Jellatech Reveals its First Animal-Free, Cell-Based Collagen

Jellatech, a North Carolina-based biotech startup, has announced the successful production of cell-based collagen using their proprietary cell lines. In their announcement, the company explains they have created full-length triple-helical collagen that functions identically to conventional sources.

Collagen is used in numerous industries including cosmetic, pharmaceutical, and food production. As such, Jellatech set out to create a clean and sustainably superior version of the protein. A version that does not rely on animals for sourcing. Collagen is traditionally sourced from animal skin, bones, and connective tissue.

In April last year, Jellatech secured $2 million in a pre-seed funding round which supported the ongoing collagen and gelatine R&D. This funding and extensive R&D work allowed Jellatech to send out samples of its collagen development with the aim of commercializing within 18 months. The recent announcement shows they have achieved bioidentical results with cell-based collagen – suggesting their ambition is within reach.

“This is a major milestone for us and I am beyond proud and excited that we are already here. Being able to see our clean cell-based collagen with the naked eye – it brings happy tears,” Stephanie Michelsen, CEO of Jellatech said in a statement.

The company first considered plant-based and fermentation-based methods before deciding against them due to their known limitations. Jellatech claims that both are unable to fully mimic the range of functionality that animal-based collagen contains, therefore its cell-based innovation is a step ahead.

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.

Viance Brings on Dr. Rufai Ibrahim to Expand their R&D Team

Viance, LLC has announced the expansion of their R&D department. They have brought on Dr. Rufai Ibrahim, an expert in Polymer Chemistry. Dr. Ibrahim has extensive experience in formulation chemistry in the biotechnology and coatings industry.

North Carolina-based Viance develops and manufactures an extensive range of advanced wood treatment technologies and services to the global wood preservation industry. They’ve been leading innovation in this industry for over 30 years with the design and development of a wide range of advanced building material solutions. Their products aim to improve performance and durability regardless of application.

Between the expertise of Dr. Ibrahim and Dr. Kevin Archer, Director of Research and Development with Viance, the company will expand their efforts to develop new chemistries for wood preservatives and fire retardant product formulations.

“Our continuing goal is to provide the wood preservation industry with environmentally advanced solutions for residential, commercial, industrial, and agricultural applications.” said Dr. Archer.

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.

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.