Nuritas Announces Connecticut Headquarters in Plans to Expand into North America
Nuritas, an Irish biotech company, has announced their plans to set up a North American headquarters in New Haven. The location will be close to Yale in order to capitalize on the commercial and scientific talent and resources in the area.
Jean Claude Bacos, the Chief Commercial Officer for Nuritas, said some of the company’s Irish workforce will be relocating to Connecticut, including the Nuritas’ founder and chief executive officer, Nora Khaldi, who said the state “offers a unique quality of life for our employees.”
In addition to relocating some existing staff, the company intends to hire 12-15 people to expand their staff.
Through the use of artificial intelligence, Nuritas is on the lookout for bioactive peptides in familiar food sources. These peptides are protein fragments that benefit the body and health. Their use of AI to identify these peptides streamlines the process by substantially reducing the amount of time it takes to bring the next wave of plant-derived nutritional supplements to market.
“The fact that they are coming here, to this economic ecosystem is an endorsement of what we’re doing here,” said Josh Geballe, a senior associate provost for entrepreneurship and innovation at Yale University. “New Haven will continue to emerge as an alternative to major cities because of its affordability and quality of life.”
The company has built and scaled their own unique discovery platform over the course of the past 8 years, training it on years of proprietary experimental data. Development of the platform as well as processing of the discovered peptides are a source of constant R&D as the company strives to expand the industry’s capabilities.
Are you developing new technology for an existing application? 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.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.
