St. Petersburg R&D Tax Credit Benefits for Businesses

R&D Tax Credits for St. Petersburg, Florida Businesses

St. Petersburg, Florida, is known for its strong presence in healthcare, finance, tourism, and education. Top companies in the city include Johns Hopkins All Children’s Hospital, a major healthcare provider; Raymond James Financial, a leading financial services provider; the Dali Museum, a key tourism and cultural institution; the University of South Florida, a prominent educational and research institution; and Tech Data, a major technology company. The R&D Tax Credit can help these industries reduce tax liabilities, encourage innovation, and enhance business performance.

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Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed’s office location at 390 North Orange Avenue, Orlando is less than 110 miles from St. Petersburg and provides R&D tax credit consulting and advisory services to St. Petersburg and the surrounding areas such as: Clearwater, Largo, Pinellas Park, Seminole and St. Pete Beach.

If you have any questions or need further assistance, please call or email our local Orlando Partner on (407) 635-8766.
Feel free to book a quick teleconference with one of our Florida R&D tax credit specialists at a time that is convenient for you. Click here for more information about R&D tax credit management and implementation.

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St Petersburg, Florida Patent of the Year – 2024/2025

Woolsey Pharmaceuticals Inc. has been awarded the 2024/2025 Patent of the Year for its breakthrough in treating agitation and anxiety in dementia patients. Their invention, detailed in U.S. Patent No. 11865119, titled ‘Methods of treating agitation and other dementia-associated behavioral symptoms’, utilizes the rho kinase inhibitor fasudil to significantly reduce behavioral symptoms associated with Alzheimer’s disease.

Agitation affects up to 90% of individuals with dementia, often leading to distress and increased caregiver burden. Current treatments, such as antipsychotics, carry serious risks, including increased mortality. Woolsey’s approach offers a safer alternative. Clinical observations indicate that fasudil delivers improvements in agitation that surpass those of existing therapies by orders of magnitude.

Fasudil, traditionally used for vascular conditions, is repurposed here to target neurological pathways involved in dementia-related behaviors. By inhibiting rho kinase, the drug may modulate brain signaling linked to agitation and anxiety. This novel application could transform care for millions living with Alzheimer’s and related disorders.

Woolsey Pharmaceuticals is advancing fasudil under the brand name BRAVYL®. The company is also exploring its potential in treating amyotrophic lateral sclerosis (ALS), supported by additional patents. With this innovation, Woolsey aims to redefine neurodegenerative disease treatment and improve patient quality of life.