CPA & Business Advisory Blog

62 Ohio Biomedical Companies Receive Therapeutic Discovery Project Grants

The IRS granted around $15 million to 62 Ohio biomedical companies for qualified Therapeutic Discovery Projects that take place during 2009 and 2010. 


The Patient Protection and Affordable Care Act  enacted in March 2010 allowed for $1 billion dollars in tax credits or grants (for not yet profitable companies) for companies with projects that show potential to:

·          Result in new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions,

·          Reduce the long-term growth of health care costs in the United States, or

·          Significantly advance the goal of curing cancer within 30 years.


Skoda Minotti would like to take the opportunity to congratulate the all Ohio recipients and especially the following clients who were awarded grants:



2009 Grant

2010 Grant

 Arteriocyte Medical Systems, Inc.



Arteriocyte, Inc. (two projects)



ChanRx Corporation



Cleveland Medical Devices, Inc.



Oakwood Laboratories



Polgenix Inc.



Portal Capital LLC




For a full list of Ohio grant recipients, click on the link below:,,id=229007,00.html

If you would like to learn more about tax credit and grant opportunities, please leave a comment or contact our Life Sciences Group at (440) 449-6800.

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