BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

Pepex Biomedical: Pepex(TM) Awarded Qualifying Therapeutic Discovery Project Grant


12/22/2010 7:54:47 AM

ST. LOUIS, Dec. 21, 2010 /PRNewswire/ -- Today, Pepex Biomedical, Inc. announced that the company has been awarded a grant of $244,479.25 under the Qualifying Therapeutic Discovery Project created by Congress as a component of the Patient Protection and Affordable Care Act of 2010, the major health care reform bill, signed into law by President Obama on March 23, 2010. Pepex submitted their ground-breaking, patented, electrochemical biosensor, nanotechnology and the company received the maximum allowable grant amount. The Pepex technology can be used in a wide array of products for more rapid diagnosis and intervention of disease which will improve patient quality-of-life and save lives.

Pepex CEO, Steve Collins said, "We are delighted to receive the grant. These funds were awarded to a select group of companies and this represents another confirmation of Pepex' potential as a valuable contributor to the medical community, for improved patient care."

The Qualifying Therapeutic Discovery Project (QTDP) offers, at the discretion of each recipient company, either a tax credit or grant equal to eligible costs and expenses for tax years 2009 and 2010. Each grant cannot exceed $244,479.25. The objective of the QTDP was to assist small, innovative biomedical companies with the ultimate goal of reducing long-term, healthcare costs in the United States.

The QTDP defined clear and strict submission qualifications to drive successful attainment of its goal. Only companies with less than 250 employees could submit project applications for grant consideration. The winning group of recipients has an average number of 20 employees. Projects submitted were required to demonstrate reasonable potential to result in new therapies for treatment of unmet medical needs in the areas of prevention and detection of chronic or acute disease. Additional selection criteria for the awards included the likelihood for a project to create high-quality, high-paying jobs in the U.S. market and to increase U.S. competitiveness in the life science and pharmaceutical fields. Companies were required to submit discrete applications for each project in development to the Department of Treasury.

Pepex is a privately held a medical device company specializing in the development, manufacturing, and marketing of disposable, miniaturized electrochemical biosensors. The company protects its market opportunities with 64 patents which encompass a broad spectrum from sensor chemistry and architecture, to wireless communications for the sensors, to laser welding and high-speed manufacturing processes. Pepex' biosensors are the heart of a pipeline of life altering products for medical diagnostics and intervention. The company is led by a team of business and scientific professionals experienced in the biomedical field and populated by a development staff with a successful track record of delivering next generation biomedical devices to market. For more information, please visit www.pepex.com.

If you'd like more information about this topic, or to schedule an interview with Steve Collins, please call Andrea Skov at 408.888.3338 or e-mail Andrea at andrea.skov@pepex.com

SOURCE Pepex Biomedical, Inc.



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->