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Feds pump $61m into Md, DC, Va biotech
November 12, 2010
Biotechs in Virginia, Maryland and the District hauled in $61 million in grants and tax credits under the federal health overhaul.
Not surprisingly, the bulk of the funding coming to the region under the Qualifying Therapeutic Discovery Project went to Maryland firms in the form of grants. Since the program targeted research for small and mid-sized biotechnology companies, which generally don't bring in any significant revenue (let alone make a profit), tax credits made up a negligible portion of the overall fundin