Xemed received official notification from the Internal Revenue Service that its research expenditures were certified as qualified investments in a qualifying therapeutic discovery project under section 48D of the Internal Revenue Code. Xemed was issued a grant for reimbursement of 50% of the certified costs. The Therapeutic Discovery Project program is targeted to projects that show significant potential to produce new therapies, address unmet medical needs, reduce the long-term growth of health care costs, or advance the goal of curing cancer within the next 30 years. The allocation of funding also reflects which projects show the greatest potential to create and sustain high-quality, high-paying jobs in the United States and to advance US competitiveness in the fields of life, biological, and medical sciences.
Xemed awarded reimbursement grant for its Qualifying Therapeutic Discovery Project
ABOUT XEMED—We are a product-focused diagnostic drug company with broad expertise and IP in the field of hyperpolarized gases, partnering with clinical researchers and the pharmaceutical industry to advance pulmonary functional MRI through regulatory approval towards worldwide commercial availability.
At Xemed, our mission is to develop inhaled diagnostic agents that are capable of improving the standard of care of respiratory diseases. We will accomplish this by establishing hyperpolarized gas as a scientifically robust, clinically validated, FDA approved, and publically available diagnostic agent for magnetic resonance imaging of lung functional microstructure. We work to demonstrate effectiveness in two fields: 1) guiding clinical management of respiratory diseases, and 2) as a drug development tool to evaluate of the safety and efficacy of new therapies