Bioenergy Inc. has received notification of a federal grant in the amount of $244,000 as part of the Qualifying Therapeutic Discovery Project. The company said it will use the grant funds to investigate their patented D-Ribose’s role in protecting the heart and improving heart function. The Qualifying Therapeutic Discovery Project Credit (QTDP) is provided under section 48D of the Internal Revenue Code (IRC), as added to the IRC by the Patient Protection and Affordable Care Act of 2010 (P.L. 111-148). The project issues one-time awards to biotech companies that show significant potential to produce new therapies; address unmet medical needs; prevent, detect, or treat chronic or acute diseases or conditions; reduce health care costs, or significantly advance the goal of curing cancer within the next 30 years. “This is exciting news for our company as we continue to work with D-Ribose and its application for cardiovascular health,” said Raj Khankari, CEO of Bioenergy, Inc. “We are very grateful the federal government has recognized the value of our company’s work and will be supporting us in our efforts as we continue to move forward.
