Richmond R&D Tax Credit Explained for Businesses

R&D Tax Credits for Richmond, Kentucky Businesses

Richmond, Kentucky, thrives in industries such as healthcare, education, manufacturing, and retail. Top companies in the city include Baptist Health Richmond, a major healthcare provider; Eastern Kentucky University, a key educational institution; Hitachi Automotive Systems, a prominent manufacturing 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 lowering tax burdens, fostering innovation, and improving 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 312 South Fourth Street, Louisville, Kentucky is less than 105 miles away from Richmond and provides R&D tax credit consulting and advisory services to Richmond and the surrounding areas such as: Lexington-Fayette, Nicholasville, Frankfort, Winchester and Berea.

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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Richmond, Kentucky Patent of the Year – 2024/2025

Eastern Kentucky University has been awarded the 2024/2025 Patent of the Year for its groundbreaking advancement in targeted cancer therapy. Their invention, detailed in U.S. Patent No. 12152089, titled ‘LHRH-platinum conjugates for treating reproductive cancers’, introduces a novel compound that combines a hormone-targeting peptide with a platinum-based chemotherapy agent to selectively attack reproductive cancer cells.

This innovative approach links luteinizing hormone-releasing hormone (LHRH) to activated cisplatin using a malonate linker. The resulting conjugate specifically targets tumor cells expressing LHRH receptors, common in aggressive reproductive cancers. By directing the chemotherapy agent precisely to cancer cells, this method aims to enhance treatment efficacy while minimizing damage to healthy tissues.

Preclinical studies have demonstrated that this LHRH-platinum conjugate effectively inhibits tumor growth, particularly in late-stage and recurrent cancers. The targeted delivery system not only improves the potency of the chemotherapy but also reduces the debilitating side effects often associated with traditional treatments. This advancement holds promise for improving patient outcomes and quality of life.

Eastern Kentucky University’s development represents a significant step forward in personalized cancer treatment. By harnessing the specificity of hormone-receptor interactions, this patent could lead to more effective and less toxic therapies for patients battling reproductive cancers.