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Uncle Sam Delivers $18.4M in Research Awards to Michigan Biotechs

Xconomy Detroit/Ann Arbor — 

Usually, people pay the Internal Revenue Service. But this week the IRS announced awards to biotech companies in Michigan and elsewhere in the U.S. through the Qualifying Therapeutic Discovery Project program.

The program awarded 57 Michigan firms a total of $18.4 million in grants, according to the IRS website. The program’s grants and tax credits—which are intended to cover up to 50 percent of the cost of qualified biomedical research projects—are part of the $1 billion in funding for the program that was established through the federal healthcare reform legislation passed in March.

These awards have been given to companies to support research in 2009 and 2010 that can improve healthcare and fuel the economy. The funding is especially important to small firms that can use the money for research that otherwise might have been difficult to finance. Indeed, it’s difficult to come by traditional sources of financing for young companies such as venture capital nowadays.

Apparently, these awards are a big deal for the recipients. For instance, Ann Arbor-based Adeona Pharmaceuticals (AMEXAEN) was awarded two grants totaling $488,959 under the program. Those funds will not only support the firm’s Alzheimer’s disease and multiple sclerosis research programs, but they also make up about 38 percent of the firm’s annual research budget, according to the company.

The program awards to each firm were commonly about $245,000, but there were a couple of companies in Michigan working on multiple projects who got more than $1 million—Michigan Critical Care Consultants, or MC3 ($1.1 million), and NanoBio ($1.2 million).

Below is a list of each company that received one or more grants and the total amount of funding. Here’s a link to the IRS website for more detailed information about each of the grants and the research they will support. (Also, look for links to Xconomy’s recent stories about the grant recipients in the list below).

Aastrom Biosciences $244,479

Accord Biomaterials $699,370

Accuri Cytometers $244,479

Adeona Pharmaceuticals $488,959

AlphaCore Pharma $$244,479

Angott Medical Products $244,479

ApoLife $200,910

Armune BioScience $244,479

Art Optical Contact Lens $84,418

AureoGen Bioscience $244,479

Aursos $40,953

Cardiavent $244,479

Cayman Chemical $323,700

Compendia Bioscience $244,479

CytoPherx $244,479

Delphinus Medical Technologies $244,479

Esperion Therapeutics $244,479

Genetics Squared $244,479

Great Lakes BioSciences $244,479

Housey Pharmaceutical Research Laboratories $488,958

Hygieia $244,479

Innovative Biotherapies $244,479

Integrated Sensing Systems $488,958

IPGDx $488,958

Life Magnetics $193,692

LPIT Solutions $$244,479

LVAD Technology $244,479

Lycera $488,958

Meditrina Pharmaceuticals $244,479

Metabolic Solutions Development $244,479

Michigan Critical Care Consultants (MC3) $1,110,068

Michigan Technology Research Institute $51,597

NanoBio $1,222,396

NanoVir $244,479

Nephrx $488,958

NeuroNexus Technologies $209,944

Novalung $244,479

Nustep $32,500

Nymirum $733,438

OtoMedicine $244,479

Phrixus Pharmaceuticals $488,958

ProNAi Therapeutics $244,479

QuatRx Pharmaceuticals $244,479

RealBio Technology $244,479

RetroSene Therapeutics $162,844

Rockwell Medical Technologies $244,479

Rubicon Genomics $394,529

Sonetics Ultrasound $244,479

Swift Biosciences $244,479

Tangent Medical Technologies $244,479

TCH Pharmaceuticals $57,602

Therapeutic Systems Research Laboratories $573, 095

Tolera Therapeutics $244,479

Ultrasound Medical Devices $244,479

Velcura Therapeutics $194,016.10

Xoran Technologies $488,958

ZuSyn $4,985