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Cobra BioManufacturing (CBF.L) Receives Approval for Research and Development Tax Credit


3/13/2008 2:43:25 PM

Keele, UK: Cobra Biomanufacturing Plc (AIM: CBF), the international manufacturer of biopharmaceuticals, today announces that the French Ministry for Higher Education and Research has recognised Cobra as an approved research and development service provider. This allows companies, subject to the French General Tax Code, to take advantage of the research and development tax credit (Le Crédit d’Impôt Recherche (CIR)).

Therefore, French companies which have outsourced research and development to Cobra will be able to benefit from research and development tax credit (Le Crédit d’Impôt Recherche (CIR)).

This approval is granted for the years: 2007, 2008 and 2009.

The tax credit limit was 16 million Euros per company per year in 2007.

“This new status will allow Cobra’s clients in France to easily take advantage of the tax breaks the French Government has made available,” said Simon Saxby, COO Cobra Biomanufacturing. “Cobra is already an active player in the French market, and this development will further improve our offering to customers.”

For further information: www.enseignementsup-recherche.gouv.fr/pid20105/aide-a-la-recherche-et-au-developpement-des-entreprises.html


Read at BioSpace.com


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