Utah – Swanson Reed | Specialist R&D Tax Advisors

Strider Technologies Secures $55M in Series C Funding

Strider Technologies, Inc. has closed a successful Series C funding round, bringing in $55 million. The round was led by Pelion Venture Partners.

The company plans to use the funding to continue developing their AI-driven capabilities within its integrated global intelligence platform. They also plan to expand operations to new geographies in Europe and Asia.

Strider is a strategic intelligence company focused on building proprietary methodologies to transform publically available data into critical insights. This enables users to make decisions confidently.

Since launching in May 2019, Strider has secured $110 million in venture capital funding, grown to nearly 200 employees, and secured multiple patents, while establishing its position as a first mover and category creator.

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.

Nectar’s Sweet Success: Securing $40 Million Series B Funding

PerkCity, Inc. (DBA Nectar), the Utah-based culture platform specializing in employee recognition and rewards, has reached a significant milestone with the announcement of a committed $40 million Series B Funding Round. This funding, led by PeakSpan Capital, represents a pivotal moment for Nectar as it embarks on a journey of growth and expansion.

With this substantial investment, Nectar is poised to accelerate the development of its platform and suite of product services, focusing on enhancing workplace culture through recognition. The infusion of capital will enable Nectar to further innovate its core recognition products and introduce new strategic offerings designed to support organizations in building strong and engaged workplace cultures.

The Series B raise underscores Nectar’s commitment to empowering organizations worldwide to cultivate vibrant and inclusive environments where every individual feels valued and appreciated. By investing in research and development, Nectar aims to remain at the forefront of the industry, delivering impactful solutions to its growing client base.

The partnership with PeakSpan Capital provides Nectar with valuable resources and expertise to fuel its growth trajectory. With a focus on scalability, user experience, and innovation, Nectar is well-positioned to drive meaningful change in the workplace culture space.

The announcement of the Series B Funding marks a new chapter for Nectar, signaling its commitment to driving positive change in workplace culture worldwide. With a focus on innovation and growth, Nectar is poised to make a lasting impact on organizations and employees alike, shaping the future of work for years to come.

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.

Xevant: Pioneering Data Analytics for a More Efficient Pharmacy Benefit Landscape

Xevant, Inc, a company dedicated to revolutionizing the pharmacy benefit landscape, recently announced their commitment to accelerated growth with a significant follow-on investment. This financial backing underscores the growing recognition of their innovative data analytics platform designed to help pharmacy benefit organizations (PBMs) navigate the complexities of the healthcare system.

PBMs play a crucial role in managing prescription drug costs for various stakeholders, including employers, health plans, and individual consumers. However, navigating the intricate world of pharmacy benefits can be challenging due to complex data analysis and reporting requirements.

Xevant addresses this challenge by providing automated data analytics and reporting tools specifically tailored for PBMs. This innovative platform empowers PBMs with the ability to:

Gain deeper insights: Xevant’s technology analyzes vast amounts of data related to drug utilization, pricing, and trends, providing PBMs with a comprehensive understanding of their clients’ needs and opportunities for cost savings.
Make informed decisions: Armed with these insights, PBMs can make data-driven decisions regarding drug formularies, network contracting, and other vital aspects of their operations.
Improve efficiency: Xevant’s platform automates various tasks, streamlining workflows and freeing up valuable time for PBM teams to focus on strategic initiatives.

By leveraging Xevant’s cutting-edge technology, PBMs can not only reduce costs but also enhance the overall quality of care for their clients. This translates to improved health outcomes, increased affordability, and a more efficient healthcare system for everyone involved.

Xevant’s commitment to innovation extends beyond their initial product offering. They continuously invest in research and development to further enhance their platform and stay at the forefront of the ever-evolving healthcare landscape. This dedication to progress ensures that PBMs can rely on Xevant to provide them with the tools they need to navigate the complexities of the pharmaceutical industry and deliver optimal results for their clients.

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.

PassiveLogic: Pioneering the Future of Generative Autonomy

Wyoming Patent of the Month - December 2021

PassiveLogic, Inc., the Salt Lake City-based creator of the first platform for generative autonomy, has announced their inaugural keynote event. The event will stream at 11:00 am MT on Thursday, November 2, 2023.

The company is focused on redefining the landscape of generative autonomy. With their groundbreaking platform, they are at the forefront of a revolution that promises to reduce carbon footprints and drive the creation of smarter, more eco-conscious cities.

The keynote event, titled PassiveLogic 2023 Launch Event: A Radical Breakthrough in Generative Autonomy” marks a milestone in the company’s work to deliver full autonomy to the world. Generative autonomy is an essential development in artificial intelligence (AI), advancing the technology from monolithically trained, single-purpose applications to flexible, dynamic general purpose systems. This technology is the basis for enabling full autonomy for any controlled system. Built on Quantum,the first physics-based digital twin standard and ontology for autonomous systems, PassiveLogic’s generative autonomy empowers anyone to design and implement their own autonomous system.

The event will feature presentations from Founder and CEO Troy Harvey, CTO Jeremy Fillingim, and some of the world’s leading experts in AI, digital twins, compilers, autonomous systems, generative design, user experience, and hardware who will provide a detailed look into PassiveLogic’s technology.

One of PassiveLogic’s key innovations is its ability to make autonomous control decisions at the edge of a building’s systems. This real-time adaptability ensures that energy is used efficiently and that occupants enjoy optimal comfort. It’s a game-changer in an industry that has long been characterized by rigid, centralized control systems.

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.

APEX Biologix is set to participate in the third cohort of Mayo Clinic and ASU’s MedTech Accelerator program

The Mayo Clinic and ASU MedTech Accelerator, a flagship program of the Mayo Clinic and ASU Alliance for Health Care, launched their third cohort on March 28, 2022. Utah’s APEX Biologix, has been selected as one of the eight participants.

The accelerator provides emerging companies with a multi-day immersive curriculum in health care entrepreneurship including: lectures and workshops with world-class scientific and engineering experts; resources to navigate regulatory pathways; and tools for product commercialization and customer acquisition. Additionally, participants attend mentoring, business development, and networking events.

APEX Biologix, an emerging industry leader in orthobiologics, continuously strives to develop innovative regenerative medicine equipment and supplies for their customers. With FDA-registered Class II PRP kits of all kinds, the company has improved platelet count capabilities, reducing processing time and the risk of human error.

Working with the MedTech Accelerator, the company intends to continue this endeavor, developing and supplying physicians with the best products and education available to treat their patients and improve the quality of their lives.

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.

Praesidium Inc. Announces Commercial Agreement for their Patented Smart Sleep Technology

Missouri Patent of the Month - August 2021

Utah-based Praesidium, Inc. has finalized a commercial agreement with two business partners securing the plans to launch their innovative, next generation “Smart Sleep” mattress early next year. The partners include a leading domestic foam mattress manufacturer and Prius Healthcare – a therapeutic support surface innovator.

The company, staffed by the experts who specialize in non-contact vital sign detection, have spent the past year in a committed R&D phase to create their new Smart Sleep technology. Between Praesidium’s health industry expertise and their business partner’s knowledge of mattresses and therapeutic support, their new technology is set to revolutionize the growing space of Smart Sleep.

The company’s patented BioFi technology will allow consumers to adjust the pressure in their mattress in all the traditional ways while tracking their critically important quantitative vital statistics (eg. heart rate, heart rate variability, bed exits, etc.). Combined with machine learning, the mattress can smartly adjust its own pressure while you sleep in response to your varying vitals in real time.

The commercial agreement includes significant volume guarantees for Praesidium’s BioFi sensors and technology over the next several years with initial geographic sales reach concentrated in North America, but quickly scaling throughout Europe and certain Asian markets. Minimum revenue estimates from this commercial agreement approach $70M for Praesidium’s BioFi technology and sensors. More definitive launch plans and additional press releases will be forthcoming from the collaborators as the 2023 launch approaches.

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.

CenExel Clinical Research Announces the Acquisition of iResearch

CenExel Clinical Research has announced their acquisition of iResearch, a leading multi-specialty research site business. iResearch is known for their expertise in and experience in conducting clinical studies including Phase I-IV. This experience includes more than 200 clinical trials in both inpatient and outpatient settings.

This acquisition is poised to strengthen CenExel’s leading central nervous system (CNS) trial capabilities in both psychiatry and neurology therapeutic areas.

Now called CenExel iResearch, the company operates in a state-of-the-art clinical research facility with a 10,000 sq ft inpatient unit. CenExel iResearch is led by co-founders Heather Beitz and Sara Castle, who serve as CEO and COO, respectively. Dr. Kimball Johnson serves as the organization’s Medical Director, with 30+ years of experience, as part of the CenExel iResearch team of 10 principal investigators. Zach Mitchell serves as the organization’s Director of Business Development, leading both sales and strategic operations, and will serve in a similar capacity with CenExel iResearch moving forward.

CenExel iResearch will benefit from CenExel’s extensive network which offers fully integrated and collaborative processes from centralized budgeting, business development, quality management and more.

CenExel was formed in 2018, and since its formation, has strategically invested to support organic growth in its centers of excellence, while also pursuing acquisitions of state-of-the-art research centers across the U.S. The mission of CenExel is to work with trial Sponsors and Contract Research Organizations to drive efficiencies in clinical research, while reducing the costs and development timelines for innovative therapies to advance patient care.

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.

CenExel Clinical Research Announces the Acquisition of iResearch

CenExel Clinical Research has announced their acquisition of iResearch, a leading multi-specialty research site business. iResearch is known for their expertise in and experience in conducting clinical studies including Phase I-IV. This experience includes more than 200 clinical trials in both inpatient and outpatient settings.

This acquisition is poised to strengthen CenExel’s leading central nervous system (CNS) trial capabilities in both psychiatry and neurology therapeutic areas.

Now called CenExel iResearch, the company operates in a state-of-the-art clinical research facility with a 10,000 sq ft inpatient unit. CenExel iResearch is led by co-founders Heather Beitz and Sara Castle, who serve as CEO and COO, respectively. Dr. Kimball Johnson serves as the organization’s Medical Director, with 30+ years of experience, as part of the CenExel iResearch team of 10 principal investigators. Zach Mitchell serves as the organization’s Director of Business Development, leading both sales and strategic operations, and will serve in a similar capacity with CenExel iResearch moving forward.

CenExel iResearch will benefit from CenExel’s extensive network which offers fully integrated and collaborative processes from centralized budgeting, business development, quality management and more.

CenExel was formed in 2018, and since its formation, has strategically invested to support organic growth in its centers of excellence, while also pursuing acquisitions of state-of-the-art research centers across the U.S. The mission of CenExel is to work with trial Sponsors and Contract Research Organizations to drive efficiencies in clinical research, while reducing the costs and development timelines for innovative therapies to advance patient care.

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.

CenExel Acquires Advanced Memory Research Institute

CenExel Clinical Research, Inc. has announced their acquisition of Advanced Memory Research Institute (CenExel AMRI)- the largest Alzheimer’s Disease clinical research site in the Northeast. CenExel AMRI conducts Phase I- IV studies focused on Alzheimer’s Disease, Memory Loss, and Dementia research.

CenExel is known for their scientific support in the design and execution of clinical trials. With the acquisition of AMRI, they will further their experience in CNS trials. Now, CenExel Centers of Excellence network now comprises 11 of the most proficient clinical research sites in the country ranging from neurology, pain, sleep, and clinical studies.

CenExel Clinical Research, Inc. was formed in 2018, and since its formation, CenExel has enthusiastically pursued both organic growth and acquisitions of state-of-the-art research centers around the U.S. The mission of CenExel is to work with trial Sponsors and Contract Research Organizations to reduce costs and development times for innovative therapies which may advance patient care. Acquisition of a variety of clinical experts and research sites helps to bring together talent and resources for improved development pipelines.

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.

Optisys Reduces Weight for Better Space Antennas

Optisys LLC is a radio frequency development company specializing in metal additive manufacturing. Through the development of turnkey advanced antenna and radar products they contribute to ground breaking systems and product performance. They have recently announced the addition of new additive manufacturing technology that they believe will further their abilities.

Previously, this Utah-based company had relied on a Concept Laser 3D printer to design their components. This machine was combined with a 100-part XSITA system for optimization. They have furthered this combination by including an SLM 500 Machine which will expedite its guidance system-focused production workflow.

This addition will contribute to their development of optimized antennas and improve production efficiency. These antenna and radar systems need to be capable of withstanding the harsh conditions of space. The SLM 500 Machine will improve these abilities. Optisys has used the new component to integrate hollow structures into RF parts like Ka band tracking antennas for a high-altitude UAV. This makes them lighter without reducing durability so they can survive in space while offering launch weight savings.

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.