Braasch Biotech‚Äôs Expansion of Anti-Obesity Vaccine Research Supported with Qualifying Therapeutic Discovery Project Grants
Online PR News – 10-December-2010 – – Braasch Biotech LLC today announced that the company has been awarded over $244,000 in grants under the Qualifying Therapeutic Discovery Project (QTDP) program. The program was highly competitive with nearly seven thousand applicants vying for funding. The maximum grants requested were awarded for Braasch‚Äôs ‚ÄúTreatment of Human Obesity by a Therapeutic Vaccination Approach.‚ÄĚ
Included as part of the Patient Protection and Affordable Care Act of 2010, the QTDP program provided a tax credit to encourage investments in new therapies to prevent, diagnose, and treat acute and chronic diseases. Companies, such as Braasch, that cannot currently use a tax credit were allowed to apply for a cash grant in lieu of a tax credit.
To be eligible for the program, projects must show reasonable potential to result in new therapies to treat areas of unmet medical need; prevent, detect, or treat chronic or acute disease and conditions; reduce long-term health care costs in the United States; or significantly advance the goal of curing cancer within a 30-year period. In addition, preference was given to projects that showed the greatest potential to create and sustain (directly or indirectly) high quality, high-paying jobs in the United States, and advance United States competitiveness in the fields of life, biological, and medical sciences. Projects were selected jointly by the Treasury Department and the Department of Health and Human Services.
Braasch Biotech is a privately held, preclinical-stage biopharmaceutical firm that maximizes its patented and patent-pending vaccine technologies for novel therapeutic treatment of human metabolic diseases, such as Obesity, Growth Hormone Deficiencies and Type 2 Diabetes. The company‚Äôs anti-obesity vaccine has been projected as a blockbuster vaccine of the future by Kalorama Information, with an estimated 2020 market of $900 million.
Braasch is headquartered in Garretson, SD with new laboratories and offices in Sioux Falls on the University of South Dakota‚Äôs GEAR Center Campus. The company has additional affiliations in California, Iowa and Colorado.
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