R&D tax relief for life-saving pharmaceutical technology
A child dying every 20 seconds is an unacceptable statistic. That’s why Stablepharma committed to launching the world’s first fridge-free vaccines, eliminating the need for the cold chain and enabling stockpiling anywhere in the world. It’s product, StablevaX™, is a disruptive technology platform that aims to produce fridge-free vaccines to reduce vaccine wastage and save lives through better immunisation.
Importance of R&D tax relief in developing fridge-free vaccines
R&D tax relief has been important to Stablepharma since they started up and were introduced to the incentive by their accountant. The relief has remained central to funding the company’s research and development since then.
Nick Child, Vice President and Co-founder says “We need investment all the time and cash is precious, especially the first four or five years when we were working without salaries half the time! It was difficult raising funding for a concept like StablevaX in the early days, so R&D tax credits were pivotal for us.”
As the company grew, time and money became more precious as Stablepharma raced to develop innovative solutions to constantly evolving scientific challenges. Stablepharma decided to seek specialist advice and support for its R&D tax claims. “We chose to partner with ForrestBrown because we were impressed with their knowledge of R&D tax credits and their clear professionalism. We also felt that they could follow us on our journey and support us as we grew.” says Nick.
Nick Child Vice President
It’s really useful to be working with an adviser who has a genuine interest and understanding of what we’re all about. It really makes a huge difference. You’ve made it plain sailing.
Long term partnerships and proactivity
Nine R&D claims later, ForrestBrown remains a trusted partner to Stablepharma. This is largely down to the value added by our experienced sector specialists, according to Nick: “It’s obvious that their experience streamlines the whole process. ForrestBrown’s team have scientific backgrounds, so they know the right questions to ask and makes everything more efficient. It’s pretty painless because you guys can run through our management accounts and you can pick out the stuff that’s eligible, and you’ve educated us over the years on what counts and what doesn’t”.
ForrestBrown’s proactive approach and specialist expertise allows Stablepharma to get on with the work that matters, and access funding that continues to fuel their growth. “It’s just totally positive.” says Nick.
“You know, you’re just getting things done with minimum amount of fuss. It’s really useful to be working with an adviser who has a genuine interest and understanding of what we’re all about.”
“It really makes a huge difference. It reduces our work as we’re not sat there explaining all the time what we’re doing. You’ve made it plain sailing”.