Business Update

Tech group applauds passage of Maryland biotechnology investment incentive bill

Published in Drug Week, May 13th, 2005

The Tech Council of Maryland applauds the Maryland General Assembly for passing the Biotechnology Investment Incentive Act, sponsored by Delegate Brian Feldman (D) and the first of its kind in the United States.

The legislation that passed the general assembly on April 11, House Bill 664, establishes the Maryland Biotechnology Investment Tax Credit Reserve Fund to provide tax credits to investors in early-stage biotechnology companies headquartered in Maryland.

"This legislation goes to the heart of what so many biotechnology companies need to advance to the next step--increased access to capital," said Julie Coons, president of the Tech Council of...

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Source: Drug Week (2005-05-13)

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