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UPDATE for Life Sciences Companies from Empire State Development (ESD)

Objective
The Life Sciences Research and Development Tax Credit Program is designed to support new life sciences businesses locating, inventing, commercializing and producing in New York State.

Overview
Program Highlights
Program credits of $10 million per year can be allocated and used to encourage new businesses to conduct their research and development in the State.

Qualified life sciences companies may be eligible to receive a fully refundable credit based on qualified research and development expenditures incurred in New York State (NYS). The credit is 15 percent for a company that employs 10 or more persons and 20 percent for a company that employs 10 or less.

The credit is allowed for up to three consecutive years beginning with the first taxable year on or after January 1, 2018 during which the qualified life sciences company meets the eligibility criteria. The credit is capped at $500,000 per year for a lifetime cap of $1.5 million.

Eligibility
The Program is available to a new business entity that devotes the majority of its efforts to the various stages of research, development, technology transfer and commercialization related to any life sciences field.

Life sciences means agricultural biotechnology, biogenerics, bioinformatics, biomedical engineering, biopharmaceuticals, academic medical centers, biotechnology, chemical synthesis, chemistry technology, medical diagnostics, genomics, medical image analysis, marine biology, medical devices, medical nanotechnology, natural product pharmaceuticals proteomics, regenerative medicine, RNA interference, stem cell research, medical and neurological clinical trials, health robotics and veterinary science.

Research and development expenditures are defined as qualified research expenses of the federal research and development tax credit [Section 41(b) of the internal revenue code] incurred in New York State on or after January 1, 2018. Qualified expenditures do not include contract research expenses.

A qualified life sciences company must be a new business.

Application materials are now posted: https://esd.ny.gov/life-sciences-tax-credit-program

https://esd.ny.gov/industries/biotech-and-life-sciences

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CFB Client, IAMBIC has been awarded approximately $1M in grant funding from the National Science Foundation Small Business Innovation Research program. IAMBIC is an innovative shoe company disrupting the centuries-old footwear industry with their sizeless, precision-fit footwear driven by proprietary AI algorithms. This substantial funding from NSF enables IAMBIC to scale its cutting-edge precision-fit shoe design and manufacturing.

The Center for Biotechnology and its accelerator programs have been instrumental in assisting IAMBIC with their SBIR pursuits and commercialization development.

Read more about IAMBIC and their recent funding here.

[post_title] => IAMBIC Receives $1 Million NSF SBIR Phase II Grant [post_excerpt] => This substantial funding from NSF enables IAMBIC to scale its operations. [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => iambic-receives-1-million-nsf-sbir-phase-ii-grant [to_ping] => [pinged] => [post_modified] => 2024-08-09 15:38:43 [post_modified_gmt] => 2024-08-09 19:38:43 [post_content_filtered] => [post_parent] => 0 [guid] => https://centerforbiotechnology.org/?p=4439 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [1] => WP_Post Object ( [ID] => 3464 [post_author] => 3 [post_date] => 2020-03-24 14:02:59 [post_date_gmt] => 2020-03-24 14:02:59 [post_content] => The Center for Biotechnology team is working remotely in order to continue our efforts to support our community. We are available to help clients with their technology and/or business development concerns, and are exploring ways in which we can provide services, programs, and events in a productive, socially responsible way. We encourage you to stay in touch, and we provide updates to the community as things develop. Stay well, The Center for Biotechnology Team [post_title] => Moving Forward [post_excerpt] => During the time of the COVID-19 pandemic, the Center for Biotechnology team is working to support our community. [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => moving-forward [to_ping] => [pinged] => [post_modified] => 2020-03-24 15:50:04 [post_modified_gmt] => 2020-03-24 15:50:04 [post_content_filtered] => [post_parent] => 0 [guid] => https://centerforbiotechnology.org/?p=3464 [menu_order] => 72 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [2] => WP_Post Object ( [ID] => 2552 [post_author] => 3 [post_date] => 2017-01-09 15:31:38 [post_date_gmt] => 2017-01-09 15:31:38 [post_content] => Sincerest congratulations to our clients who are being recognized among Stony Brook University's 40 under 40 for 2016.  Since earning their Stony Brook degree, they have gone on to pursue their passions, help others and lead positive change. J. Robert Coleman ’08, PhD Molecular Genetics and Microbiology - Chief Operating Officer, Codagenix, Inc Katarzyna M. Sawicka ’04, ’05, ’14, BS Engineering Chemistry, MS Chemistry, PhD Biomedical Engineering - Founder and President, ImmunoMatrix Joseph Scaduto ’08, MBA Business Administration - Founder and CEO, Traverse Biosciences Inc.
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Tools that accelerate medical countermeasure screening and development are vital to improving human health – from enabling personalized medicine to responding to health security threats such as pandemics. To this end, BARDA, in partnership with the National Center for Advancing Translational Sciences (NCATS), part of the National Institutes of Health, has launched the new ImmuneChip+ program.

We aim to partner with innovators to support the development of advanced microphysiological systems / tissue chip platforms that integrate a component of the human immune system. The objective of the program is to develop a set of set of mature ImmuneChips, combining a previously validated model of a vital human tissue (e.g. lung, heart, kidney) with an immune system component, in a single platform that can be machine-manufactured and that includes multiple in-line sensors for long-term tissue monitoring. With this program, we aim to further enhance the usability of tissue chips and position them as useful tools in the drug development process and for personalized therapeutics.

For more details, please visit BARDA DRIVe program at https://drive.hhs.gov/immunechip.html

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CFB Client, IAMBIC has been awarded approximately $1M in grant funding from the National Science Foundation Small Business Innovation Research program. IAMBIC is an innovative shoe company disrupting the centuries-old footwear industry with their sizeless, precision-fit footwear driven by proprietary AI algorithms. This substantial funding from NSF enables IAMBIC to scale its cutting-edge precision-fit shoe design and manufacturing.

The Center for Biotechnology and its accelerator programs have been instrumental in assisting IAMBIC with their SBIR pursuits and commercialization development.

Read more about IAMBIC and their recent funding here.

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IAMBIC Receives $1 Million NSF SBIR Phase II Grant

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Moving Forward

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Congratulations 40 under 40 Winners!

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BARDA: Immunechip+ Program Overview

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