Minnesota Patent of the Month – January 2021
Have you ever thought about what goes on under the skin in your body? All the processes and functions of everything. Like how we rely on our muscles to move us and lift heavy things. Well, in turn, muscles rely on other things too, like bones and tendons. Tendons are connective tissue that connects muscle to bone. Muscles and tendons work together to move you, along with the brain of course. Tendons can withstand incredible tension; however, they can still tear if we aren’t careful. Sometimes these can take a long time to heal, and that’s where Rotation Medical, Inc. steps in. It’s created a repair implant to help treat tendon damage.
Rotation Medical’s repair treatment involves treating the tendon itself, unlike conventional methods of removing bone. The company’s innovative treatment starts with an implant resembling a sheet that is inserted along the tendon’s surface using an arthroscopic instrument. The sheet-like material has properties for repairing tears in tendons and as the implant undergoes strain and load sharing with the natural tendon, it stimulates new tissue growth. Because the implant is made of bioabsorbable or bioresorbable material, the implant will degrade over time promoting new tendon growth.
Are you developing a new medical treatment? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
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The Research & Experimentation Tax Credit (or R&D Tax Credit), is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The credits are a tax incentive for performing qualified research in the United States, resulting in a credit to a tax return. For the first three years of R&D claims, 6% of the total qualified research expenses (QRE) form the gross credit. In the 4th year of claims and beyond, a base amount is calculated, and an adjusted expense line is multiplied times 14%. Click here to learn more.
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