The decision, part of the state's 2010 budget, will allow life-sci shops in FY2011 to determine the percentage of corporate income taxes they owe the state based solely on sales, rather than combining sales with payroll and owned property.
Under terms of the deal, Novartis will give Epistem a $4 million upfront payment and provide funding to study the stem cell shop's drug targets. Epistem could also get up to $45 million in milestone payments for each product developed from targets licensed under the agreement.
NHLBI in late January put out an RFP for the program, which calls for researchers to develop proteomics technologies and apply them to solve clinical puzzles. It is set to begin early next year, shortly after its current two major proteomics initiatives expire.
The study is the first to look at a clinical biomarker to assess potential ecological risk assessment. Eventually, they hope to develop an assay that hydropower operators can use to evaluate how their facilities may be affecting the survival of fish populations, especially those that may be endangered.
If MedImmune can develop and market a drug based on the discovery, it could be a financial boost to the institute, which hopes to diversify its revenue sources once cash from sole corporate sponsor Kirin Pharma USA dries up in 2010.