The government allocates a billion to small biotech businesses

The US government has announced a program to help biotech companiesIlya Dugin, Farmvestnik
The American government has unveiled a new program to help small biotech companies.

They will be allocated $1 billion in tax credits and grants. This amount is equivalent to 50% of the volume of investments in the company in 2009-2010. Financial assistance on a competitive basis will be provided to companies developing innovative medicines, medical equipment and diagnostic tools with a staff of less than 250 people. To be among the winners, it is necessary that the company has the potential to develop cost-effective medicines, maintain or increase the number of high-paying jobs, and that its products strengthen the competitiveness of the American biotechnology sector.

According to Rachel King, executive director of GlycoMimetics, it is currently difficult for any biotech company, and the financial assistance program adopted as part of the healthcare reform will allow many of them to continue developing.

Portal "Eternal youth" http://vechnayamolodost.ru25.05.2010