Virginia Patent of the Month – April 2023
Antibiotic resistance is a growing problem worldwide, with at least 2 million people acquiring serious infections with bacteria that are resistant to antibiotics each year in the United States alone. The problem adds considerable and avoidable costs to the healthcare system, with the total economic costs of antibiotic resistance ranging as high as $20 billion in direct healthcare costs and additional costs to society for lost productivity as high as $35 billion annually.
Fortunately, a new invention by I2PURE Corp offers a promising solution. Molecular iodine (I2) has been shown to be highly effective against MRSA, the most common causative pathogen of hospital-treated acute bacterial skin infections. The advantage of I2 is that it offers a broad-spectrum antimicrobial nasal agent with substantial in vitro and in vivo evidence, and its activity is effective against both common bacterial and antibiotic-resistant species, without generating resistant bacterial strains.
I2PURE’s invention offers a pharmaceutically acceptable formulation based upon an emollient organic carrier molecule that can stabilize molecular iodine for at least nine months at room temperature. The formulation delivers free I2 at concentrations that are 10 to 400 times higher than those found in typical iodophors, is emollient, and lowers the effective vapor pressure of I2, allowing it to remain in the composition for an extended period.
This innovation offers a significant improvement over the current solutions, as their iodophors lose free molecular iodine rapidly and do not provide a persistent antimicrobial barrier. The new composition offers a topical solution that can maintain high concentrations of free I2 in contact with mammalian tissue for extended periods of time, making it a promising solution for preventing and treating antibiotic-resistant infections.
I2PURE’s I2 is able to kill pathogens on contact while leaving healthy tissue unharmed. It can be used to destroy pathogens in, on and above skin and on surfaces. The formulation can be readily included in custom blends for specific needs, creating unlimited potential in the battle against microbes.
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.
Are you eligible?
Why choose us?
Pass an Audit?
What is the R&D Tax Credit?
The Research & Experimentation Tax Credit (or R&D Tax Credit), is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The credits are a tax incentive for performing qualified research in the United States, resulting in a credit to a tax return. For the first three years of R&D claims, 6% of the total qualified research expenses (QRE) form the gross credit. In the 4th year of claims and beyond, a base amount is calculated, and an adjusted expense line is multiplied times 14%. Click here to learn more.
Never miss a deadline again
Stay up to date on IRS processes
Discover R&D in your industry
R&D Tax Credit Preparation Services
Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed provides state and federal R&D tax credit preparation and audit services to all 50 states.
If you have any questions or need further assistance, please call or email our CEO, Damian Smyth on (800) 986-4725.
Feel free to book a quick teleconference with one of our national R&D tax credit specialists at a time that is convenient for you.
R&D Tax Credit Audit Advisory Services
creditARMOR is a sophisticated R&D tax credit insurance and AI-driven risk management platform. It mitigates audit exposure by covering defense expenses, including CPA, tax attorney, and specialist consultant fees—delivering robust, compliant support for R&D credit claims. Click here for more information about R&D tax credit management and implementation.
Our Fees
Swanson Reed offers R&D tax credit preparation and audit services at our hourly rates of between $195 – $395 per hour. We are also able offer fixed fees and success fees in special circumstances. Learn more at https://www.swansonreed.com/about-us/research-tax-credit-consulting/our-fees/
Choose your state
