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Why Do Biotechs Love the IRS Today? Washington Companies Just Got $34M in Grants

Xconomy Seattle — 

Biotechies around the country are feeling a lot of love toward the Internal Revenue Service today. And the impact is being felt in Washington state’s biotech cluster, as 83 local biotech companies were awarded grants worth a combined $34 million, in one of the little-known postscripts to the new healthcare reform law that was enacted last spring.

This program, called the Qualifying Therapeutic Discovery Project Grants, was part of an overall tax credit and grant program set up by the IRS to support research project spending during 2009 and 2010. The total budget for the program was supposed to be $1 billion in credits and grants.

I’ve been getting barraged with press releases from companies crowing about these little grants, which are worth about $245,000 per project, although the amount can be prorated for projects that last more or less than one year. Rather than report on all these announcements in piecemeal fashion, I thought I would just publish the list here, and provide a link back to the IRS site, which has more detail on what the project money is going to be used to support. Washington state has five companies that received more than $1 million—Adaptive TCR, AVI Biopharma, Omeros, Proteotech, and Trubion Pharmaceuticals.

“It’s a nice shot in the arm as we try and tie up additional financing for our three programs, and will allow us to hire additional people to work on our hearing loss R&D programs,” says Jonathan Kil, CEO of Seattle-based Sound Pharmaceuticals, whose company was awarded $733,000 in grants.

Without further ado, here are Washington-based companies that got grants, in alphabetical order, followed by how much they are getting. For a full list of the grant winners in each state, check the IRS site by clicking here.

Accium Biosciences $244,479

Adaptive TCR $1,047,954

Advanced Medical Isotope $488,958

Agave Pharma $244,479

Alder Biopharmaceuticals $244,479

Allozyne $488,958

Animex Therapeutics $244,479

Amnis $244,479

Anergix $244,479

AVI Biopharma $1,222,395

Blood Cell Storage $488,958

Calistoga Pharmaceuticals $733,437

Calypso Medical Technologies $488,958

Cancer Targeted Technology $183,928

Cell Therapeutics $977,916

Cerevast Therapeutics $244,479

CG Therapeutics $244,479

CoCrystal Discovery $733,435

Columbia Northwest Pharmaceuticals $488,958

Ekos $297,683

Emergent Detection $229,900

Enject $244,479

Epigenomics $244,479

Etubics $244,479

Focused Scientific $23,232

Healionics $244,479

HemaQuest Pharmaceuticals $977,916

Hyprotek $244,479

Immune Design $488,958

Impel Neuropharma $244,479

Implicit Bioscience $244,479

Inimex Pharmaceuticals $244,479

Insilicos $244,479

Integrated Diagnostics $733,435

IsoRay Medical $526,510

Kineta $733,435

Koronis Pharmaceuticals $244,479

Kurve Technology $244,479

Light Sciences Oncology $488,958

Marina Biotech $244,479

MediQuest Therapeutics $244,479

Micronics $244,479

Mirabilis Medica $244,479

Mirina $488,958

Nanoquantum Sciences $244,479

NanoString Technologies $244,479

Northwest Biotherapeutics $244,479

Nortis $28,823

Oasis Diagnostics $14,367

Omeros $1,585,803

OncoGenex Pharmaceuticals $488,958

Onconome $231,016

Oncothyreon $485,958

Ondine Research Laboratories $244,479

Onkor Pharmaceuticals $488,958

Pacific Biomarkers $244,479

Pathway Medical Technologies $244,479

PhaseRx $488,958

PhenoPath Laboratories $244,479

Poniard Pharmaceuticals $244,479

Presage Biosciences $244,479

Profibrix $244,479

Proteotech $1,167,529

Qwell Pharmaceuticals $244,479

Rarecyte $244,479

Rhine Pharmaceuticals $244,479

Scolr Pharma $251,087

Silere Medical Technology $244,479

Sound Pharmaceuticals $733,435

STB $244,479

Stratos Genomics $244,479

Syntrix Biosystems $939,604

Theraclone Sciences $977,916

Tissue Regeneration Systems $244,479

Trubion Pharmaceuticals $1,222,395

Unigen $488,958

Uptake Medical $244,479

VLST $733,435

VisionGate $359,482

VPDiagnostics $244,479

XL Sci-Tech $185,409

Xori $244,479

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