COVINGTON, La.--(BUSINESS WIRE)-- TCA Cellular Therapy was recently awarded a Qualifying Therapeutic Discovery Program (QTDP) grant from U.S. Department of Health and Human Services. The program was highly competitive with nearly seven thousand applicants vying for funding. TCA Cellular Therapy received the grant for their efforts in developing combination and single adult stem cell therapies with an emphasis on cardiovascular and neurological diseases.
QTDP Grant recipients Drs. Jose Minguell and Gabriel Lasala examine cryopreserved adult stem cells being utilized in TCA Cellular Therapy's FDA trials. (Photo: Business Wire)
QTDP was part of the Patient Protection and Affordable Care Act of 2010 and provides a 50% tax credit or grant to biotech, pharmaceutical and other healthcare companies for qualified investments by eligible companies in taxable years beginning in 2009 and in 2010 in connection with qualifying projects.
Qualifying projects included those designed to:
- Treat or prevent diseases or conditions by conducting pre-clinical activities, clinical trials and clinical studies, or carrying out research protocols for the purpose of securing federal government approval by the FDA.
- Diagnose diseases or conditions or to determine molecular factors related to diseases or conditions by developing molecular diagnostics to guide therapeutic decisions.
- Develop a product, process or technology to further the delivery or administration of therapeutics.
This funding will help TCA Cellular Therapy continue the development of adult stem cell therapies for critical limb ischemia (lack of blood flow to the legs), cardiac ischemia (lack of blood flow to the heart), myocardial infarction (heart attack), amyotrophic lateral sclerosis (ALS or Lou Gherig’s Disease), and spinal cord injury.
“We are grateful for the award and the recognition of TCA Cellular’s significant advances in adult stem cell therapies,” stated TCA Cellular president and medical director Gabriel Lasala, MD. “This grant will assist the company in expanding the research for the treatment of multiple diseases and conditions.”
TCA Cellular Therapy partnered with Alliantgroup, the nation’s premier provider of specialty tax services, during the application process. Alliantgroup’s team of biotechnology and life sciences experts assisted the research company throughout the application process.
About TCA Cellular Therapy
Under the scientific guidance of cellular biologist, Jose J. Minguell, Ph.D., TCA Cellular Therapy is a biotherapeutic adult stem cell research and development company. The company has been recognized by the FDA as one of the top 10 U.S. companies researching stem cell therapies. Founded in 2006, the privately-held company is located in Covington, Louisiana.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6510137&lang=en
KEYWORDS: United States North America Louisiana
INDUSTRY KEYWORDS: Health Biotechnology Clinical Trials Hospitals Other Health Research Other Science Science General Health
|QTDP Grant recipients Drs. Jose Minguell and Gabriel Lasala examine cryopreserved adult stem cells being utilized in TCA Cellular Therapy's FDA trials. (Photo: Business Wire)|