Rochester R&D Tax Credit Explained for Businesses

R&D Tax Credits for Rochester, New York Businesses

Rochester, New York, is known for industries such as healthcare, education, manufacturing, technology, and optics. Top companies in the city include the University of Rochester Medical Center, a leading healthcare provider; Rochester Institute of Technology, a major educational institution; Eastman Kodak, a significant manufacturing employer; Xerox, a key player in the technology sector; and Bausch & Lomb, a prominent optics company. The R&D Tax Credit can help these industries save on taxes by encouraging innovation and technological advancements.

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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 350 Northern Blvd, Albany, New York is less than 225 miles away from Rochester and provides R&D tax credit consulting and advisory services to Rochester and the surrounding areas such as: Greece, Irondequoit, Henrietta, Perinton and Webster.

If you have any questions or need further assistance, please call or email our local New York Partner on (518) 801-0616.
Feel free to book a quick teleconference with one of our New York 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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Rochester, New York Patent of the Year – 2024/2025

Vaccinex Inc. has been awarded the 2024/2025 Patent of the Year for its pioneering work in cancer immunotherapy. Their invention, detailed in U.S. Patent No. 11859000, titled ‘Anti-CCR8 antibodies and uses thereof’, introduces a novel class of antibodies designed to enhance the body’s immune response against tumors.

This technology targets the CCR8 receptor, predominantly found on immunosuppressive regulatory T cells (Tregs) within tumors. By binding to CCR8, the antibodies selectively deplete these Tregs, reducing their suppressive effect on the immune system. This approach aims to bolster the body’s natural ability to combat cancer cells without affecting Tregs in healthy tissues.

The antibodies were developed using Vaccinex’s proprietary ActivMAb® platform, which specializes in generating fully human monoclonal antibodies against complex membrane proteins. This platform enabled the precise targeting of CCR8, a challenging receptor due to its structural complexity.

Vaccinex has licensed this antibody, known as SRF114, to Surface Oncology. The therapy has progressed to Phase 1/2 clinical trials, marking a significant step toward potential new treatments for advanced solid tumors.

This advancement represents a promising direction in immuno-oncology, offering a targeted strategy to enhance anti-tumor immunity while minimizing collateral effects on the body’s overall immune regulation.