News Headlines Article

Health Care Reform Package Provides $1B Tax Credit for Biotechs
San Diego Business Journal

Small biotech and medical device companies in San Diego are looking into a new grant opportunity that would provide up to $5 million apiece to offset a portion of their research and development costs. Signed into law with the rest of the health care reform package was a $1 billion therapeutic discovery tax credit aimed at biomedical research projects that show potential in advancing life-saving treatments for unmet medical needs, including cancer, and in lowering the long-term costs of health care and supporting jobs.