r&d – Page 7 – Swanson Reed | Specialist R&D Tax Advisors

Fort Worth Company NanOlogy Leads the Way to Treating Prostrate Cancer

Last week, NanOlogy, a Fort Worth-based pharmaceutical company, made headlines when it enrolled its first patient in a Phase 2 clinical trial to test a new chemotherapy method to fight ovarian cancer. This week, the same company is changing the game again: this time to treat prostrate cancer.

27,000 American men die from prostrate cancer each year and about 3 million are currently diagnosed with the disease. Only patients at a higher risk for the disease’s progression are treated while those who are considered “low risk” are monitored closely and not treated. Prostatectomy is a common treatment but it is known for its side effects that decrease a patient’s quality of life, such as incontinence and impotence.

NanOlogy, in contrast, is developing a more convenient alternative with its patented intratumorally-injected NanoPac (nanoparticle paclitaxel). Currently in Phase 2 of its clinical trial, NanoPac will be monitored for its effects on safety and efficacy. Clinical Director of NanOlogy, Shelagh Verco, told Business Wire, “If we are successful, we may offer a treatment option for moderate or high risk patients with localized or non-metastatic disease without a negative impact on quality of life.” While mainstream treatments are limited to metastatic disease, NanOlogy hopes this can treat the disease before metastasis occurs. Dr. Gere diZerega, NanOlogy’s Vice President of Medical Affairs, explained, “Systemically administered paclitaxel has been shown to be effective for prostate cancer but is limited to metastatic disease. This clinical trial is the first study in humans to examine whether NanoPac injected intratumorally will effectively and safely treat the tumor with a high locally sustained concentration of the drug.”

NanOlogy is a collaboration among Fort Worth’s DFB Pharmaceuticals as well as Kansas’ CritiTech and California’s US Biotest. The firm aims to develop and improve the safety and efficacy of drug delivery by using nanoparticle technology to treat cancer. Other projects for the ambitious firm include developing treatments for lung cancer, pancreatic cancer, ovarian cancer, and others.

Are you also developing new chemotherapeutic treatments like NanOlogy using R&D? You could be eligible for the R&D Tax Credit and receive up to 14% back on your expenses. To find out more, please contact a Swanson Reed R&D Specialist today.

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

Significant R&D scheme attracting scientists from around the world

Almost 260 scientists from around the world have applied for the New Delhi Visiting Advanced Joint Research (VAJRA) R&D scheme, which attracts the top international talent in the country’s research and development ecosystem

Screening of applicants for this exciting opportunity will continue throughout October and 70 applicants will be shortlisted and begin work in December.

Being selected for the VAJRA Faculty scheme is a significant opportunity and achievement. Scientists will be provided with a lump-sum amount of USD 15,000 in the first month of residency and USD 10,000 per month afterwards.

Eventually the plan is for the department of Science and Technology to select 1,000 scientists every year for the pilot project. This will aim to significantly increase expertise in the areas which India currently lacks in such as, renewable energy and water.

The following program will greatly benefit the advancement of research and R&D expertise in India, which will ultimately lead to further opportunities within the sector in the years to come.

India has seen a surge in global R&D, which helps nurture the country’s innovation ecosystem. If your company is engaging in research activities, it may be eligible for an R&D Tax Credit. An R&D Tax Credit reduces the cost and risk of undertaking R&D activities for your business. The benefit helps companies doing eligible work to create new or improved products, processes and services by reducing their tax. To find out if your company could be eligible, complete Swanson Reed’s quick and simple contact form.

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

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Las Vegas exposed the limits of Google’s algorithms. But is there still hope?

Google’s dominance in the diffusion of information is a nearly an undisputed fact. But what happens when Google’s algorithms fail to provide quality, reliable information when it’s most needed?

This was the case with the Las Vegas tragedy when Google’s Top Stories featured a 4chan forum post which wrongfully accused Geary Danley as the perpetrator of the shootings. Unfortunately, the post spread across the Internet and Danley’s good name was smeared. It is common knowledge that 4chan is not a reliable source: the forum is notorious for its “trolling” personality, racist views, and willful dissemination of inaccurate information. Yet, Google’s algorithms did not filter the 4chan post. After receiving widespread criticism for circulating the 4chan post, Google issued the following response:

Unfortunately…we were briefly surfacing an inaccurate 4chan website in our Search results for a small number of queries. Within hours, the 4chan story was algorithmically replaced by relevant results. This should not have appeared for any queries, and we’ll continue to make algorithmic improvements to prevent this from happening in the future.

In the past, Google was simply a resource of information and acted as a search engine. Yet with the “Top Stories” feature which highlights trending stories, the company now also bears the responsibility of curating news. While useful in ordinary situations, Google’s algorithms have fallen short when it comes to filtering for reliable sources during breaking news like Las Vegas. In simple terms, Google’s Top Stories algorithm measures stories and posts by two variables: “freshness”, how new and trending a topic is, and “authoritativeness”, the credibility of the source. The algorithms allowed the 4chan post to surface into the mainstream because calculations weighed “freshness” over “authoritativeness”. In response to Las Vegas and other blunders, many critics have since denounced the algorithms, deploring them as “rogue” and a “failure”.

However, technically-speaking, the algorithms did not “fail”. They simply did what they were programmed to do. Perhaps there is hope to improve the algorithms. As Artificial Intelligence has shown, machines take time to learn, requiring many examples before they can perform effectively. What is needed, therefore, is an improved way for these algorithms to filter information and measure accuracy.

Are you a computer scientist or software engineer developing improved algorithms that would prevent further blunders like the Google 4chan debacle? You may be eligible for the R&D tax credit. If you would like to find out how your company could benefit from R&D Tax Credits, please contact a Swanson Reed R&D Specialist today.

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

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The Dallas to Houston Bullet Train: Boosting Transportation and Economic Growth the Texan Way

Imagine a bullet train so fast it could transport you from Dallas to Houston comfortably in 90 minutes instead of driving in traffic for six hours on congested highways. Texas Central Partners is making that dream a reality with construction for the bullet train slated to begin late 2018 and early 2019 and to be completed within five years.

The bullet train would be the first of its kind in the United States. At speeds up to 200 mph, the train would carry 400 passengers to three major stops: Houston, Dallas, and the Brazos Valley Region. Nearly 14 million people travel between Houston and Dallas each year by air or by road, and congestion has significantly increased on the highways since 2012. The Interstate 45 between the two major Texan cities is also known as the second deadliest highway in the country because of its vulnerability for accidents.

Texas Central Partners is building its prototype based on Japan’s N700-I bullet train and Shinkansen system. With its 52-year record of zero fatalities, the N700 technology is known as the safest in the world. Texas’ bullet train will be built on an elevated double-track rail to further ensure public security so as not to intersect with highways and roads. The company’s External Affairs Director Holly Reed explained the state is a test for the rest of the United States: “The project is in Texas, but it’s on a national stage. It’s the right project being done the right way at the right time.”

Aside from the transportation benefit, the bullet train’s construction is expected to increase economic activity in the North Texas area. 10,000 jobs would be created from the renovation efforts alone while another 1,000 jobs would be added to the newly growing American high-speed rail industry. Costs of the project are an estimated $15 billion. Texas Central was adamant from the outset that funding for the bullet train would not come from government grants or subsidies. Instead, it would be financed by private sources. According to Reed, “This is an example of Texas doing things its way. It’s an entrepreneurial-led project being driven by free-market principles.”

Reed added that it follows the spirit of Texas innovation, “It’s a big idea, not any different than the first semiconductor that was built at TI (Texas Instrument) or when NASA put a man on the moon. This is an example of a project that has the principles that made all of those companies great.”

If you are also developing ideas and projects to improve Texas’ transit systems like the proposed bullet train, you may be eligible for the R&D tax credit which could save you up to 14% on your expenses. To find out more on how you can save money, please contact a Swanson Reed R&D Specialist today.

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Faster, Bigger, Quieter: Dallas-based Southwest Airlines launches Boeing 737 Max 8 Aircraft to make history

Yesterday, Dallas-based carrier Southwest Airlines launched nine Boeing 737 Max 8 jetliners, making it the first North American company to use the new Max 8 aircraft in commercial flights. The aircraft departed from six different airports, with the first taking off from Dallas Love Field for Houston and then San Antonio, a route reminiscent of Southwest’s “Texas Triangle” route in 1971. Southwest hopes to expand from nine to 14 of the Max 8 jetliners by the end of 2017.

The introduction of the Max 8 aircraft marks a new chapter in Southwest history. Earlier this weekend, Southwest retired 30 of their Boeing 737-300 jetliners, affectionately dubbed the “Classics”. Though a trailblazer when first introduced in 1984, the Classics have proven outdated in recent years due to their louder engines and lack of Wi-Fi connectivity. The Classics’ fuselage was also infamous for its safety hazards. In July 2009, a huge hole at the rear of the plane forced an emergency landing. In April 2011, two people were injured when a 5-foot-long gash opened in the fuselage mid-flight.

In contrast to the Classics and other Boeing models, the new Max 8 aircraft is safer and more fuel-efficient. With its nacelles that curb noise, v-shaped winglets, and powerful Leap-1B engine, the Max 8 is quieter, uses 14 percent less fuel, and travels 500 nautical miles farther than the Boeing 737-800. The Max 8 aircraft also has wider seat dimensions in economy class than any other plane on the North American market and can carry up to 175 passengers, 32 more than the Classic aircraft

The Max 8 was designed with the long-term future in mind. Unlike the Classic jetliner, the Max 8 aircraft is connected to satellite-based Wi-Fi. Southwest, notably, did not include television monitors to the Max 8 design. Instead, customers are encouraged to use their personal devices on board. This was a cost-effective measure since maintaining television monitors can be expensive and according to Mike Van de Ven, Southwest’s Chief Operating Officer, technology is constantly evolving and the television monitor may be outdated one day. After all, he noted how airplane seats once had telephones attached to them.

As Chairman & CEO Gary Kelly told Business Insider on Sunday, “Today, we begin a new chapter in Southwest’s history by introducing the Boeing 737 MAX 8 to our Customers and Employees. The MAX 8 is the future of the Southwest fleet, and we look forward to connecting Customers to the important moments in their lives through our legendary service delivered with this more fuel efficient aircraft designed to produce less noise in the communities we serve.” [sic]

Are you conducting R&D to improve aviation and the passenger experience like Southwest Airlines? You may be eligible for the R&D tax credit. If you would like to find out how your company could benefit from R&D Tax Credits, please contact a Swanson Reed R&D Specialist today.

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Digital R&D facility in Chicago will create over 100 new tech opportunities

An exciting time lies ahead for research and development in Chicago! Siemens have officially announced their plans for a digital R&D hub due to open in October 2017.

The facility will generate over 100 new tech jobs in the city which will bring the Siemens Chicago employee count up to 3,300. New jobs will be created in the fields of software development, software architecture, product testing, project leadership, application engineering, configuration management, team leadership and technical writing. It is anticipated that the center will open in October 2017 and will have $20 million per year invested into it.

It is no doubt that establishing this R&D center in Chicago is a significant opportunity for Siemens to leverage the extremely talented tech community in the city.

The center will build applications for Siemens Control Products and Systems (CPS) technology. The CPS Software House will take the lead on global R&D efforts for the company’s design CC platform, which makes it easier to manage the functions of large buildings. In addition the facility will also work to add more cloud functionality to the System One smart home application.

The logical next step and a critical component in the Siemens digitalization strategy is establishing the CPS Software House, which continues driving towards a future that includes autonomous buildings. The goal for Siemens as a company is to build new capabilities, bring them to customers sooner and work with customers to quickly obtain feedback.

The technology industry is growing at an aggressive rate and like Siemens, many are investing millions in R&D to stay ahead of the technology curve. An R&D Tax Credit can support businesses in any industry to further develop their research. If you would like to find out more about R&D tax and whether your company may qualify for an R&D Tax Credit, contact a Swanson Reed R&D specialist today.

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Hitachi discusses strategy in R&D initiatives around the world

Conglomerate giant, Hitachi, operates in several industries around the world and invests heavily in research and development across many sectors. As a for-profit company, Hitachi funds their own research and development, and so must strategize in choosing which R&D projects or industries to invest in to be most effective and lucrative.

According to Hitachi’s co-head of Social Innovation Business, Patrik Sjoestedt, Hitachi’s strategy is to address major issues that have the biggest affect on society. These issues and their affects vary greatly by region, but typically these projects tackle issues such as climate change, water management and energy use. Hitachi addresses modern day problems with technology to create solutions for society, such as developing sensors to deal with traffic congestion.

Determining which issues to invest R&D in is heavily influenced by region. For example, in Southeast Asia, development is heavy as cities are being built up, and so importance of research and development is on issues such as energy efficiency and security. Another example exists in Germany, where manufacturing is one of the biggest industries. Here, R&D would aim to solve issues resulting in reducing waste, optimizing energy, managing pollution and increasing overall efficiency. Similarly, in cities such as London and New York, transport (including transport of goods) is a major contributor to issues like pollution and congestion. R&D invested in transportation would aim to reduce emissions and optimize transport loads, perhaps through technologies such as self-driving vehicles.

Hitachi will continue innovating to solve major issues faced around the world today through R&D. The R&D tax credit is another strategy available to Hitachi any other companies developing new and improved products and processes, allowing a credit of up to 14% of eligible spending.

If you would like to find out how your company could benefit from Research and Development Tax Credits, please contact a Swanson Reed R&D Specialist today.

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U.S. Department of Health partnering with Johnson & Johnson company in R&D initiative to prevent pandemics.

The U.S. Department of Health and Human Services has announced they will enter a public-private partnership with Janssen Research and Development, a company owned by well-known corporate giant Johnson & Johnson. The purpose of the partnership is to perform R&D of products that could aid in treatment and prevention of emerging infectious diseases, some with the potential to cause a pandemic.

According to Johnson & Johnson, the scale of this research is too high for any company or government to achieve on its on, but by bringing together the efforts of the private and public sector, the partners believe achievements can be made. Combined skills and resources can be used to advance their research and aim to develop treatments for influenza and prevention methods should a pandemic arise.

Influenza affects more than one billion individuals each year with up to 500,000 deaths. The partnership will continue research on a drug developed by Janssen, which could prevent the influenza virus from replicating and spreading in the body. Also included in the project will be research on vaccines to protect against a wide range of seasonal and pandemic viruses.

The Department of Health and Human Services will provide the project with up to $43 million for R&D in the first year and up to $273 million over five years. Janssen has agreed they will match the Department’s contribution and both parties will jointly manage operations and resources and share costs associated with this R&D project.

R&D investment in the medical and health industry has been growing in recent years and is expected to continue growing as investments advance. R&D Tax Credits can support businesses in any industry in furthering their research and development initiatives. If you would like to find out how your business could benefit from R&D tax credits, contact a Swanson Reed R&D Tax Advisor today.

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U.S. Army investing in R&D to create robots and other advanced technologies

The U.S. Army has spent the last 10 years working with researchers and universities across the country in a collaborative technology alliance to help solve major military issues. In 2008, a research an R&D program was launched and called Micro Autonomous Systems and Technology (or “MAST”). It was a program designed to research and develop technologies to improve tactical situational awareness and enhance safety for soldiers of the future.

The U.S. Army Research Laboratory, whose research team consisted of 19 partners, including the University of Michigan and MIT, recently displayed their findings at a Collaborative Technology Alliance capstone event. New technologies developed through MAST were demonstrated live by 17 teams of researchers and included robots for both the ground and air, and self-organizing autonomous quadcopters.

Now that MAST has concluded, the Army has announced it will soon launch a new technology alliance research program called Distributed Collaborative Intelligent Systems and Technology (or “DCIST”). This time around, the program will research and develop technologies that can enable many systems, heterogenous in nature, to distribute intelligence and communicate. Researchers want to make it possible for information to transmit instantly to all different units. This can include soldiers, robots and Humvees, in the air or on the ground. Though there are challenges sure to be faced, researchers are calling it “an incredibly difficult, exciting program” and that it will play a major role in strategy for the Army.

The technology industry is growing at an aggressive rate and like the Army, many are investing millions in R&D to stay ahead of the technology curve. An R&D Tax Credit can support businesses in any industry in further developing their research. If you would like to find out more about R&D tax and whether your company may qualify for an R&D Tax Credit, contact a Swanson Reed R&D specialist today.

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U.S. Businesses Are Spending More on R&D Than Ever Before

In 2015, business research and development spending reached $356 billion in the U.S., putting R&D spending up almost 5% from 2014. Not only is R&D in the U.S. increasing, but companies are putting more of their own money into it as own company funding went up 5%. Not surprisingly, manufacturing companies accounted for 66% of domestic R&D.

The R&D Tax Credit is available to any of these companies developing new and improved products and processes, allowing a credit of up to 14% of eligible spending if the following four research criteria are met:

technological in nature;
new or improved products, processes or software;
elimination of uncertainty; and
process of experimentation.

Eligible spending covers payroll of direct labor, cost of supplies and developments, and contracted research services up to three years.

If you would like to find out how your company could benefit from R&D Tax Credits, please contact a Swanson Reed R&D Specialist today.

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