PROVIDENCE – Three Rhode Island companies have received preliminary approval from the R.I. Economic Development Corporation for the state’s Innovation Tax Credit, according to EDC spokeswoman Melissa Withers.
The companies and their projects are:
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• Isis Biopolymer of Warwick, an early-stage medical device company, to pioneer an electronic transdermal patch to allow non-invasive, remote-controlled drug delivery.
The bandage-like patch is waterproof and can be used to administer a seven-day supply of as many as three medications. A radio-frequency ID (RFID) antenna and chip in each patch helps to provide an electronic record of the date, time and quantity of medicine administered.
The team at Isis, led by Emma Durand, president and chief technical officer, includes members with expertise in medical device, materials and systems design, as well as technology licensing. It currently has four laboratories in an 18,000-square-foot space in Warwick, plus an option for additional lab space.
The company is seeking a credit in the biotechnology and life sciences category.
• ER Card of Warwick, to expand its electronic personal health record (EHR) service.
The company’s credit-card-like member IDs contain both identification and access data, to make comprehensive personal health data instantly available via phone, fax or the Internet.
ER Card already has more than 3,100 members in Rhode Island, as well as relationships with Kent Hospital, the Warwick Fire Department and a network of primary care physicians and senior residents.
Now, it is seeking to raise $300,000 to develop and market a unique USB-compatible mini flash drive system for incorporation into a credit-card-size device, a key-chain attachment and costume jewelry. The flash-drive system would be available to subscribers as an upgrade, permitting them to store PHR data and sync with ER Card’s Web-based electronic records system.
The company, led by co-founders Maria and Janice Gil, has teamed up with the University of Rhode Island College of Pharmacy, for clinical pharmacy review; Salve Regina University, for program evaluation; and Purvis Systems, for public-safety IT.
ER Card is seeking a credit in the category of professional, technical and educational services / computer systems design.
• EvoCare Infusion Services, a startup aiming to acquire an office in East Providence and hire employees to launch a home infusion therapy service.
Intravenous medications, including antibiotics, cardiac and chemotherapeutic agents, nutrition and blood products and biologicals would be compounded by the company in its own infusion pharmacy; delivered and administered by a specially trained nurse; and billed to the patient’s health insurance.
EvoCare – led by Marina Marcoccio, Bernard Lambrese and Joseph Haley, who bring experience in health-care reimbursement, finance and operations – will be looking to hire pharmacy, nursing, customer service, finance, sales and operations staff.
It is seeking an innovation credit in the health care services category.
The Innovation Tax Credit is one of several targeted for elimination in the controversial R.I. Economic Growth and Fairness Act of 2008” (H-7950 and S-2668), a public hearing on which is planned this afternoon. (READ MORE)
The R.I. Economic Development Corporation is a quasi-public agency established to promote business development, preservation and expansion in the state and undertake port projects in Rhode Island. To learn more, visit www.riedc.com.
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