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November 4, 2010

Health care reform act delivers millions to Maryland biotech, pharma startups

Federal officials announced this week that more than 130 Maryland early-stage biotechnology and pharmaceutical companies received nearly $49 million worth of tax credits for their investments the past two years as part of a billion-dollar federal campaign to promote therapeutic advances in the medical field.

The Qualifying Therapeutic Discovery Project grants were awarded to companies in 48 states.

Some of the Baltimore companies that received the grants, and which I've written about, include BioMarker Strategies, Gliknik and Corridor Pharmaceuticals. Companies were able to apply for a credit for each project they worked on. The maximum single-project award was $244,479. [The full list of Maryland companies is here.]

The federal departments of the Treasury and Health and Human Services oversee and administer the grants and tax credits to the companies, which are part of the Affordable Care Act of 2010.


This is an archived version of the technology blog. For updated coverage, see the current baltTech location: baltimoresun.com/balttech
Posted by Gus Sentementes at 4:07 PM | | Comments (0)
Categories: *NEWS*, BioTech
        

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About Gus G. Sentementes
Gus G. Sentementes (@gussent on Twitter) has been writing for The Baltimore Sun since 2000. He's covered real estate, business, prisons, and suburban and Baltimore City crime and cops. He was one of the first reporters at The Sun to use multimedia tools and Web applications -- a video camera, an iPhone -- to cover breaking news. He hopes to cover Maryland geeks and the gadgets and Web sites they build, and learn -- and share -- something new every day.

Gus has a wife, a young daughter and two feuding cats. They live in Northeast Baltimore.
This is an archived version of the technology blog. For updated coverage, see the current baltTech location: baltimoresun.com/balttech
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