Ten Alachua County biotechnology companies, nine of them UF-affiliates, received a considerable financial boost this week in an effort to advance health care reform and create more jobs.
The Qualifying Therapeutic Discovery Project Program awarded $4.5 million worth of tax credit grants to the companies as part of the health care law passed in March.
“I definitely think it’s a great opportunity, specifically here in Gainesville where there are so many small companies and entrepreneurs, to allow them to turn their ideas into real products,” said Amanda Burks, director of operations at Optima Neuroscience Inc., an Alachua company that develops software and devices for the treatment of neurological disorders.
Optima Neuroscience Inc. was awarded $244,479, which will be used to pay for research done in 2009 on seizure detection software.
According to a BioFlorida press release, an association that represents Florida bioscience industries, companies that showed the potential to produce cost-saving therapies and technologies were awarded the grants.
Only firms with 250 employees or less were allowed to apply.
“The majority of new jobs created are created by small and entrepreneurial companies,” said Stephanie Warrington, vice president of corporate affairs and business development at Xhale Inc. “Investing in these companies is basically the government investing in future job creation.”
Two new employment opportunities were generated at Optima Neuroscience Inc. since the firm received the grant.
Xhale Inc. received $422,771 from the grant, which will be used to rapidly bring improved breathalyzers to the market.
The other companies that benefited from the grant are: Applied Genetic Technologies Corp., Banyan Biomarkers Inc., EnCor Biotechnology Inc., eTect LLC, Nanotherapeutics Inc., OxThera Inc., Quick-Med Technologies Inc. and Convergence Engineering Inc., the only non UF-affiliate.
