News Release Distributed 11/14/12
BATON ROUGE, La. – TransGenRx Inc. (tgrxinc.com), a biopharmaceutical manufacturing company based here, recently received a substantial Louisiana R&D Tax Credit award.
The credit, administered by Louisiana Economic Development and available through the 2019 tax year, allows for small businesses to receive refunds equal to 40 percent of qualified research expenses. The goal of the program is to encourage companies to make investments in Louisiana to innovate and grow their businesses. Working with Baton Rouge-based tax credits and incentives advisory firm TRCG Advisors (trcgadvisors.com), TranGenRx Inc. was awarded one of the largest R&D Tax Credits in the history of the program.
“The R&D tax credit has allowed us to take the steps we need for our business to grow here in Baton Rouge,” said Richard Cooper, president and chief scientific officer of TranGenRx Inc. “Our goal is to hire more highly skilled employees, and we thank LED Secretary Stephen Moret, Louisiana R&D tax credit program administrator Shamelda Pete and the entire LED staff for working with us toward achieving these goals.”
“It was gratifying to see LED award the R&D tax credits to such a deserving company. It is an honor to work with TransGenRx. We look forward to watching TranGenRx use the R&D credits to fuel even greater growth here in Louisiana,” said Adam Weems, managing director of TRCG Advisors.
TransGenRx Inc. was started with technology licensed from the LSU AgCenter. Cooper also is a professor in the AgCenter’s School of Animal Sciences.
Linda Foster Benedict