Bill Kitchens Quoted in Genetic Engineering & Biotechnology News

AGG Partner William H. Kitchens is quoted in the July 18, 2011, edition of Genetic Engineering & Biotechnology News in an article titled “Revival of Tax Credit Program Depends on Job Creation and Scientific Results.” The Qualifying Therapeutic Discovery Project is a program contained in the Patient Protection and Affordable Care Act of 2010 that set aside $1 billion in tax credits and grants for biotechnology and pharmaceutical companies working on new therapies or other biomedical innovations. The project successfully delivered all of its available $1 billion for the 2009 and 2010 tax years to 2,923 biotechnology companies, and some members of Congress and industry supports would like to extend the program. Mr. Kitchens says that the program is especially needed to fund earlier-stage life science companies that may have to shut down without proper funding, even if they have some great technology.

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