If our regulators considered the needs and objectives of innovators in their work, and provided regular feedback to those creating, updating and improving our legislation, we would go a long way to achieving the Government’s objective of making the UK one of the most innovative countries in the world, and increasing the amount that we spend on research and development to 2.4% of GDP.
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No competing firm’s federal contracts match Chainalysis', and none are as prevalent across agencies. CipherTrace, led by CEO David Jevans, has made about $6 million through mostly research and development contracts; Elliptic, a British firm, has had only one contract worth $2,450 with the Internal Revenue Service, according to federal data.
The company's R&D spending during the recently completed quarter was up 8 percent year over year to $57.1 million from $53.1 million, while its SG&A costs were essentially flat at $214.2 million from $214.0 million.
Co-Diagnostics said it anticipates using net proceeds to acquire PCR equipment to be used in connection with sales of infectious disease test reagents. The firm also anticipates using the proceeds in connection with research and development costs associated with test development for additional pathogens and test-menu expansion, and for working capital and other general corporate purposes.
And the costs of the inefficient, error-prone process that is drug discovery are not only high but increasing. Where Moore’s Law illustrates the cheapening and "easy access" of digitization in many technology fields, the pharmaceutical industry has the cleverly named Eroom’s Law ("Moore" spelled backward), described by Jack Scannell and team in 2012, that shows that the number of new drugs approved by the FDA per billion U.S. dollars (inflation-adjusted) spent on R&D has halved roughly every 9 years.