News & Events

Proacta Inc receives $489,000 from US government stimulus for biotechnology

SAN DIEGO, CA. December 1, 2010 – Proacta has been awarded a total of $489,000 in the form of a 48d tax credit from the US government. The program, designed as a stimulus for small biotechnology companies, provides tax credits towards further biotech research. The money awarded was a tax credit against Proacta’s two main research projects; PR104 and the Hypoxia Selective Multikinase Inhibitor program, and will be used to fund ongoing research in these areas.