Biotechnology

Biotech Firms May Get Up to $5 Million Tax Credit

(Updates with pertinence details in 10th paragraph.)

By Drew Armstrong

May 21 (Bloomberg) -- Biotechnology companies with fewer than 250 employees may get as much as $5 million each in U.S. superintendence tax credits to help pay for development of “promising” new therapies.

The program gives companies with fewer than 250 employees as much as a 50 percent trust on investments that the government judges will create “promising” therapies and products, according to an Obama provision fact sheet. Investments made in 2009 and this year are eligible.

The $1 billion in credits may help cancel out the effects of the slow economy for companies that don’t yet have products on the market. GlycoMimetics Inc., a closely held firm based in Gaithersburg, Maryland with 25 employees, will apply to help pay for the development of its experimental treatments for sickle stall anemia, said Chief Executive Officer Rachel King.

Animal Biotechnology

Animal biotechnology encompasses a broad range of techniques for the genetic improvement of domesticated animal species including selective ...

Biotech in the Blogosphere

India’s Northern Voices Online (NVO), writes,
“Animal Cloning may prove to be boon for Dairy Sector.” NVO goes on to explain that,

“India is the world?s largest milk producer with 104.9 million tonnes milk production per year. Milk production in India is growing at 4% per year, and at present India contributes 15% of the total global milk production. Out of this, 55% is contributed by buffalo. Though per capita availability of milk in India has increased from 120 grams in 1960 to 241 grams per day in 2005-2006, demand for milk is increasing day by day owing to increase in population and individual income. In 2008 it was 104.9 million tonnes which has already been achieved. The projected milk demand in India by 2010, 2015 and 2020 will be 120, 140 and 170 million tonnes.”

Furthermore NVO writes,

“India has the largest cattle and buffalo population in the world, to the tune of about 180 million and 85 million respectively. This, more than being a productive resource, is causing huge pressure on our limited fodder reserves. Already there is a shortage of 30% fodder for domestic animals. The land for grazing and fodder production which is only 9% of total agriculture land, is getting constricted day by day. In this situation, the only solution to increase our dairy production, is to scientifically control the population of animals and upgrade them for better quality and more quantity of milk and meat per animal.”

That means it’s time for cloning.

For more information on cloning check out CloneSafety.org

Moving from animals to plants,

the blog, War on You, writes that,

“Britain is planning to spend up to EUR115m on support for genetically modified crops for the world?s poor. A new white paper shows the government is committed to dramatically increasing spending on high-tech agriculture in the next five years, much of which will be on GM crop research.”

And that,

“The plans are delicate because Britain has not allowed any GM crops to be grown commercially at home. The move to support the development of high-tech food for Africa is deemed as a way not only to reduce poverty but also to gain acceptance for GM foods in Britain.”

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