Feds help small drug companies

Grants from the federal Qualifying Therapeutic Discovery Project, created by Congress as part of the Patient Protection and Affordable Care Act of 2010 and available only to companies with no more than 250 employees, are being touted as a job creator everywhere they have been announced. NanoValant Pharmaceuticals, based in Bozeman, Montana, will receive $13,500 to help it develop a new drug delivery system for cancer treatment. The company has drug delivery partnerships with the NIH, Children's Hospital of Los Angeles, Novelix Pharmaceuticals and University of Texas Houston. Senator Max Baucus (D-Mont.) is hailing the grants in his state. "Giving these businesses a break for investing in research and hiring more employees will help boost Montana's economy in an innovative and sustainable way," he says in a statement. "This is a winning combination because this research that can lead to more affordable medical treatments and technological advancements." News

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