Nov 2 2010
Micronics, Inc., a leading developer of point of care molecular diagnostics, announced today that it has been awarded a cash grant for tax year 2009 totaling approximately $244,479 under the U.S. Government's Qualifying Therapeutic Discovery Project ("QTDP") program.
“We are pleased to have been awarded the QTDP grant based on the PanNAT platform”
The QTDP program was created by Congress on May 21, 2010 under Section 48D of the Internal Revenue Code, as enacted under the Patient Protection and Affordable Care Act. It established criteria by which small businesses could apply to be certified for either a tax credit or grant up to specified limits for tax years 2009 and 2010; for projects that had the greatest potential to create or sustain high quality jobs and to advance United States competitiveness in the fields of life sciences, biological and medical sciences.
Micronics submitted a single grant application for its PanNAT molecular diagnostic platform, currently in development, and received the award based on this system's responsiveness to the QTDP threshold criteria. "We are pleased to have been awarded the QTDP grant based on the PanNAT platform," said Karen Hedine, Micronics' President and CEO. "The PanNAT system is being advanced for the diagnosis of diseases in a new format that we believe represents a significant improvement over existing methods for molecular detection today."
Source: Micronics
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