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Biomedical firms get grants

November 4, 2010

Rep. Brian Higgins, D-Buffalo, announced more than $1.85 million in federal tax credits to support biomedical research at several area companies.

The companies are: Androbiosys, Buffalo BioLabs, Empire Genomics, Kinex Pharmaceuticals and SmartPill Corp. Kinex received the largest share of the tax credits, with a total of about $733,000.

Nationwide, more than 2,900 biotechnology companies were awarded credits under the Qualifying Therapeutic Discovery Project program.

Projects covered by the credits are aimed at advancing the goal of curing cancer within 30 years; reducing the long-term growth of health care costs in the United States; or resulting in new therapies to treat unmet medical needs or to prevent, detect or treat chronic or acute diseases and conditions.