Massachusetts Companies Collect $129 million in Grants and Credits

November 4, 2010

310 companies chosen under new Therapeutic Discovery Project program

November 4, 2010 (Cambridge, MA)— MassBio President and CEO Robert K. Coughlin congratulated the more than 300 Massachusetts biotechnology companies named as recipients of the new Therapeutic Discovery Project grants or tax credits. The announcement was made by U.S. Treasury Secretary Geithner and Health and Human Services Secretary Sebelius yesterday.

“As this announcement illustrates, the Therapeutic Discovery Project Credit program ensures Massachusetts’ most cutting-edge companies will be able to maintain their commitment to investment in life-saving research,” said Coughlin said. “The program helps biotech companies continue to discover new cures and therapies to solve unmet medical needs, while adding good jobs across the Commonwealth. We are thrilled to see this investment being made and congratulate all of the recipients.”

The $1 billion Qualifying Therapeutic Discovery Project Credit program was included in the Affordable Care Act signed into law in March. The program, which was limited to companies with fewer than 250 employees, was championed in the Senate by Massachusetts Senator John Kerry and supported by the entire Massachusetts legislative delegation.

A total of 310 Massachusetts companies were awarded either a tax credit or grants under the program, for a total of almost $129 million in investment.

MassBio member companies receiving awards include:

 

Boston Biomedical Catabasis Pharmaceuticals Celexion LLC
Celidex Therapeutics CellThera, Inc. Cerulean Pharma
Concert Pharma Constellation Pharma Creagen Biosciences, Inc.
Curis, Inc. Cytonome/ST Dicerna Pharmaceuticals
Differential Proteomics Dyax Corp Edimer Pharmaceuticals
Eleven Biotherapeutics Enanta Pharmaceuticals Entra Pharmaceuticals
Epizyme Inc. ETEX Corporation Eutropics Pharmaceuticals
Excelimmune Inc. Eyegate Pharmaceuticals Flexion Therapeutics
FoldRx Pharmaceuticals Forma Therapeutics Formatech Inc.
Galenea Corp. Genetix Pharmaceuticals Genocea Biosciences, Inc.
GL Synthesis Inc. Helicos BioSciences Hybrid Silica Technologies
Hydra Biosciences ImmunoGen Infinity Discovery, Inc.
Inotex Pharmaceuticals Intelect Medical, Inc. Interleukin Genetics
Intelligent Bio-Systems IntelligentMDx InVivo Therapeutics
Ironwood Pharma Kala Pharmaceuticals Link Medicine Corporation
Logical Therapeutics Mercury Therapeutics Merrimack Pharmaceuticals
Mersana Therapeutics Metamark Genetics Modular Genetics, Inc.
Microbiotix MicroCHIPS Momenta Pharmaceuticals
NKT Therapeutics NormOxys, Inc. OPK Biotech
Ocular Therapeutix On-Q-Ity, Inc. Paratek Pharmaceuticals
Peptimmune, Inc. Pervasis Therapeutics Pharmalucence, Inc.
Predictive Biosciences PrimeraDx, Inc. Pro-Pharmaceuticals, Inc.
Proteon Therapeutics Pulmatrix Inc. Quanterix Corporation
Radius Health, Inc. Rapid Micro Biosystems Repligen Corporation
Resolvyx Pharma Rxi Pharmaceuticals Satori Pharmaceuticals
Seahorse Bioscience Seaside Therapeutics Semprus BioSciences
Selecta Biosciences SelectX Pharma Strategic Science & Technologies
Seventh Sense Biosystems SmartCells, Inc. Surface Logix, Inc.
Stromedix, Inc. SynDevRX, Inc. Synageva BioPharma Corp
Syndax Pharma Syndexa Pharmaceuticals Synta Pharmaceuticals
T2 Biosystems, Inc. Tetraphase Pharmaceuticals Taligen Therapeutics, Inc.
Tepha Inc. Tolerx, Inc. Velico Medical, Inc.
Verax Biomedical Inc. Virdante Pharmaceuticals Visterra, Inc.
ZIOPHARM Oncology, Inc.

The list of Massachusetts companies, projects and grant or credit amounts is available online here.

For a full list of the awards nationwide, go to the IRS website.

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