Cobra Biologics Granted Approval for Research Tax Credit
News Apr 02, 2014
Cobra Biologics has announced that the French Ministry of Higher Education and Research (MESR) has recognized the contract manufacturer as an approved service provider for its antibody and recombinant protein services for the period 2013 to 2015.
French companies which outsource their research and development (R&D) programmes to Cobra’s centre of excellence for mammalian antibody and recombinant protein production will benefit from the research tax credit (Le Crédit d’Impôt Recherche).
The tax credit scheme from the MESR serves as a powerful incentive for research partnerships; encouraging research and development efforts, enhancing the France’s attractiveness for investment, and supporting the development of organizations within the country regardless of their size or industry.
All French companies incurring research expenses are eligible to receive this tax credit which covers 30% of all R&D expenses up to €100 million, and 5% above this threshold.
Peter Coleman, CEO Cobra Biologics, commented: “CIR is a real benefit to our French customers as it encourages them to invest in innovative drugs that are ultimately the driving force for the medicines of tomorrow.”