Florence R&D Tax Credit Explained for Businesses

R&D Tax Credits for Florence, Kentucky Businesses

Florence, Kentucky, thrives in industries such as healthcare, education, manufacturing, and retail. Top companies in the city include St. Elizabeth Healthcare, a major healthcare provider; Gateway Community and Technical College, a key educational institution; DHL, a prominent logistics company; Walmart, a global retail giant; and Amazon, a global logistics and e-commerce company. The R&D Tax Credit can benefit these industries by reducing tax liabilities, fostering innovation, and improving business performance. By leveraging the R&D Tax Credit, companies can reinvest savings into advanced research boosting Florence’s economic growth.

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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 312 South Fourth Street, Louisville, Kentucky is less than 90 miles away from Florence and provides R&D tax credit consulting and advisory services to Florence and the surrounding areas such as: Louisville, Lexington, Covington, Richmond and Georgetown.

If you have any questions or need further assistance, please call or email our local Kentucky Partner on (502) 237-5088.
Feel free to book a quick teleconference with one of our Kentucky 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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Florence, Kentucky Patent of the Year – 2024/2025

EPM (IP) Inc. and Yissum Res Dev Co of Hebrew Uni of Jerusalem Ltd. has been awarded the 2024/2025 Patent of the Year for innovation in treating neuroinflammatory conditions. Their invention, detailed in U.S. Patent Application No. 20240316073, titled ‘Cannabidiolic acid esters for treating prader-willi syndrome’, uses a novel synthetic cannabigerol derivative to reduce inflammation in the central nervous system.

The technology centers on a modified cannabinoid compound that targets neurological inflammation without causing psychoactive effects. Unlike traditional cannabinoids, this synthetic version is engineered to interact more precisely with receptors involved in immune response and neuroprotection. The treatment shows promise for conditions like multiple sclerosis, Parkinson’s disease, and traumatic brain injury.

By designing a molecule that is both potent and selective, the inventors aim to address the root cause of inflammation-related neurodegeneration. Preclinical studies referenced in the application suggest improved outcomes in reducing harmful immune activity while preserving healthy brain function. The formulation may be delivered orally or via injection, expanding its potential clinical use.

This breakthrough builds on growing interest in non-psychoactive cannabinoids as therapeutic agents. The invention offers a new path for drug development in neurology and immunology, especially for patients who have limited treatment options. It also underscores Israel’s leadership in cannabinoid research, combining academic insight with biotech innovation.

EPM (IP) Inc. and Yissum’s patent points to a future where safer, targeted therapies can tackle some of medicine’s most complex neurological disorders.