VENTURE CAPITAL
Georgia Research Alliance (GRA) Venture Capital Fund
In January 2008, Governor Sonny Perdue announced the creation of a $40 million GRA Venture Capital Fund, which will allow the state to partner with the private sector and provide early-stage financing to startup companies based on ideas developed in Georgia's research universities. The Fund encourages venture capital investment through:
a 25% income tax credit for up to $30 million invested seed capital; &
a 10% income tax credit for up to $75 million "follow-on" capital following formation of companies.
Both tax credits were created by Georgia House Bill 1196, which was signed into law in May 2008. For more information, please contact:
Mr. Michael Cassidy
President
Georgia Research Alliance
Phone: 404.332.9770
Web site: http://www.gra.org/
Firms in Georgia
Accuitive Medical Ventures LLC
Cordova Ventures
EGL Holdings
Kinetic Ventures, L.L.C.
Research Corporation Technologies
UPS Strategic Enterprise Fund
Georgia Top Deals
Venture Capital
AviGenics, Inc. of Athens raised just over $10M for its development of therapeutic proteins for humans.
Combining both the 3rd and 4th quarter amounts that CardioMEMS Inc of Atlanta raised, this company, which develops wireless medical devices for the treatment of chronic diseases, was able to bring in nearly $35M.
Grants and Awards
Dr. Harriet Robinson, lead scientist and co-founder of GeoVax Labs, Inc., (OTC BB: GOVX) an Atlanta-based biotechnology company developing HIV/AIDS vaccines, co-presented successful Phase I trial results at the 15th Conference on Retroviruses and Opportunistic Infections (CROI). The NIH recently provided additional support to GeoVax’s vaccine development program in the form of a $15 million IPCAVD grant awarded in October 2007.
The National Cancer Institute was awarded a five-year, $12.5 million Specialized Program of Research Excellence (SPORE) grant in head and neck cancer to Emory University's Winship Cancer Institute.