U.Va. Biotech Spin-Offs Awarded $2.7M Under New Federal Program

December 03, 2010

December 3, 2010 — Twelve biotechnology firms with roots at the University of Virginia were awarded grants totaling more than $2.7 million under a new federal program.

Established as part of the Affordable Care Act, enacted this spring, the Qualified Therapeutic Discovery Project Program benefits "small firms that show significant potential to produce new and cost-saving therapies, support U.S. jobs and increase U.S. competitiveness."

Under this program, U.S. taxpaying companies with fewer than 250 employees were invited to apply for tax credits or grants covering up to 50 percent of the cost of qualifying biomedical research investments made in 2009 and 2010. The Internal Revenue Service, in conjunction with the Department of Health and Human Services, approved the distribution of a total of $1 billion to nearly 3,000 firms in November. In Virginia, more than $11 million was distributed to a total of 45 firms.

Each U.Va.-related firm received grants totaling from $10,000 to nearly $500,000. A complete list of these firms, the projects for which they received grants and the grant totals:

•    ClavGen Therapeutics LLC: Development of Universal Multivariate Biomarkers for Predicting Chemotherapeutic Response in Bladder and Ovarian Cancers, $195,820 in 2009
•    Diffusion Pharmaceuticals LLC: Trans Sodium Crocetinate for the Treatment of Hypoxic Conditions, $244,479 in 2009
•    Gencia Corp.: Pre-clinical Development for the Treatment of Alzheimer's and Sarcopenia, $224,164 in 2009, $20,315 in 2010
•    Gene Solutions LLC: Parkinson's Disease Diagnostic Development, $17,148 in 2009, $5,353 in 2010
•    HemoShear LLC: Human Surrogate Model of the Liver, $79,221 in 2009, $165,258 in 2010; Human Surrogate Diabetes Vascular Model, $244,479 in 2010
•    Hypogen Inc.: Targeted Therapeutics for Hypertension and/or Salt Sensitivity, $5,000 in 2010; Salt Sensitivity Urine Test, $5,000 in 2010
•    Medical Predictive Science Corporation: Impact of HeRO Monitoring in Neonates, $244,479 in 2009
•    Phthisis Diagnostics LLC: R-Sphere Cypto-Giardia Detect, $173,300 in 2009, $71,180 in 2010; R-Sphere Microsporidia Detect, $35,917 in 2010
•    PluroGen Therapeutics Inc., New Topical Gel Using a Unique Triple-Antibiotic Combination to Reduce Infection and Accelerate Wound Healing for Burns, Acute and Chronic Wounds, $160,570 in 2009, $83,909 in 2010
•    Pocketsonics Inc., Pocket-sized, Low-cost, Ultrasound Imaging Device, $143,783 in 2009, $100,696 in 2010
•    Tau Therapeutics LLC, Interlaced Therapy with Mibefradil for the Treatment of Glioblastoma Multiforme, $169,519 in 2009, $74,961 in 2010
•    WellAWARE Systems Inc., In-Home Monitoring Systems for Seniors, $244,479 in 2009

Media Contact

Morgan Estabrook

Senior Manager of Marketing & Communications U.Va. Innovation