TAMPA, Fla.--(BUSINESS WIRE)--Accentia Biopharmaceuticals (NASDAQ: ABPI) announces that its wholly-owned special purpose subsidiary, Biotech CDE, Inc., has received official notification from the U.S. Treasury that it has qualified as a national community development entity. This notification means that Biotech CDE, Inc. may now make direct applications to the U.S. Treasury Department for New Market Tax Credits (NMTCs) to support research, development, manufacturing, and commercialization of biopharmaceuticals in qualifying census tracts within the U.S. Accentia pioneered the use of NMTCs to support biopharmaceuticals during 2006 when the Company facilitated two different NMTC allocations aggregating approximately $19 Million from established CDEs to support biotechnology opportunities at its majority owned subsidiary, Biovest International, Inc., while stimulating economic growth in qualified low income areas.
