The Qualifying Therapeutic Discovery Project was initially targeted to help drug companies develop therapies that treat areas of unmet medical need, or prevent, detect or treat chronic or acute diseases and conditions; reduce the long-term growth of healthcare costs in the United States; significantly advance the goal of curing cancer within 30 years; and for “projects that show the greatest potential to create and sustain high-quality, high-paying jobs in the United States, and to advance our competitiveness in the fields of life, biological and medical sciences.”
Companies with 250 employees or fewer can receive up to $5 million in credits. Startups with no tax liabilities can receive a maximum $244,000 grant.
The IRS has the full list of tax credits and grants, broken down by state, here.
