ACTC.OB received grants amounting to $977,917 under The Patient Protection and Affordable Care Act of 2010 (PPACA).
The grants were related to 4 projects: the Blastomere Program, the Myoblast Program, the RPE Program for Stargardt’s Disease and the iPS Program.
- The grants were for $244,479.25 each, for a total grant of $977,917.
The PPACA provides small and mid-sized biotech, pharmaceutical and medical device companies with a tax credit for investments in qualified therapeutic discoveries for tax years 2009 and 2010, or a grant for the same amount, tax-free.
- The tax credit/grant program covers research and development costs from 2009 and 2010 for all qualified “therapeutic discovery projects;
- A qualifying therapeutic discovery project is designed to diagnose, treat or prevent diseases or conditions by conducting preclinical studies or clinical trials or carrying out research protocols for the purpose of securing approval from the FDA.