The grant was related to four of the company’s projects – the Blastomere Program, the Myoblast Program, the RPE Program for Stargardt’s Disease, and the iPS Program.

The grants were for $244,479.25 each, and the funds are exempt from federal income taxes.

The PPACA provides small and mid-sized biotech, pharmaceutical and medical device companies with a tax credit for investments in qualified therapeutic discoveries for tax years 2009 and 2010, or a grant for the same amount, tax-free.

The tax credit/grant program covers research and development costs from 2009 and 2010 for all qualified therapeutic discovery projects.

ACT chairman and CEO William Caldwell IV said that securing non-dilutive funds for clinical programs is a priority, and securing this grant is a step toward achieving that goal and they are pleased that all four of their major research programs received funding.