Biotech Industry Applauds Introduction of the High Technology Small Business Research Incentives Act
03 October 2012 - 10:20PM
Marketwired
The Biotechnology Industry has seen increased investor interest in
2012 as it continues to impress with strong gains. The iShares
NASDAQ Biotechnology Index ETF (IBB) has gained over 35 percent
this year, more than double the S&P 500 Index's gain of 15
percent. New legislation, increased mergers & acquisition
activity as a result of major patent expirations have all been
contributing factors to industry's rapid rise in 2012. Five Star
Equities examines the outlook for companies in the Biotech Industry
and provides equity research on Aastrom Biosciences, Inc. (NASDAQ:
ASTM) and Pluristem Therapeutics Inc. (NASDAQ: PSTI).
Access to the full company reports can be found at:
www.FiveStarEquities.com/ASTM
www.FiveStarEquities.com/PSTI
The Biotechnology Industry Organization (BIO) has recently
praised the introduction of the High Technology Small Business
Research Incentives Act. The new legislation would allow investors
of joint venture R&D projects to utilize the losses and tax
credits.
"Through the tax code, Congress historically has provided
opportunities that encourage private investment in pre-revenue,
R&D-intensive companies. The early growth of the biotech
industry in the 1980s was due in part to the ability of investors
to support projects aimed at finding new cures and treatments
through similar joint ventures. This legislation will help spur
greater private investment in biotech and other R&D intensive
industries," BIO's President and CEO Jim Greenwood said in a
statement.
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Aastrom Biosciences is the leader in developing
patient-specific, expanded multicellular therapies for use in the
treatment of patients with severe, chronic cardiovascular diseases.
The company's proprietary cell-processing technology enables the
manufacture of ixmyelocel-T, a patient-specific multicellular
therapy expanded from a patient's own bone marrow and delivered
directly to damaged tissues.
Pluristem Therapeutics is a leading developer of placenta-based
cell therapies. The company last month reported that a third
critically ill patient was treated Pluristem's PLX cells. The
outcome of the treatments potentially suggests that the company's
PLX cells may have significant potential to treat a range of
indications of bone marrow diseases.
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