OcyonBio and InvestPR at C.P.H.I. India
OcyonBio was at C.P.H.I. India to speak alongside InvestPR to discuss how Puerto Rico, with its sixty years of pharmaceutical history; and OcyonBio as a landing pad, can incubate Research and Development companies through commercialization and how we can provide unique opportunities to reduce Costs lower compliance and supply risks.
Puerto Rico offers unique incentives to companies coming to the Island. Puerto Rico universities graduate over 15,000 STEM students a year; generating a rich pool of talent. As we say in Puerto Rico; we speak three languages; Spanish; English; and C.G.M.P. Puerto Rico has established innovative incentives that include cash grants; and up to 50% reimbursement for expenditure on Research and Development; Construction; Operational; and capital purchases. These incentives have been enacted and are part of the Puerto Rico constitution to attract and establish innovative pharmaceutical companies.
Once profitable; the companies can qualify for tax rate in the range 1 to 4% depending on the technology.
This makes Puerto Rico unique as a territory of the United States; it can create incentives to support job growth; and enable new technologies.
Invest Puerto Rico will be providing a comprehensive list for how these incentives can impact technical transfer; and Cost of Goods. Once incentives are combined, we believe your company will have competitive cost of goods at par with India.
OcyonBio, located in Puerto Rico, has a campus with over 200 thousand square feet. The campus is designed to support companies from Research and Development to commercialization for Cell and Gene Therapy, Biologics Drug Substance for bacterial and mammalian; and small-scale Viral vectors for Retrovirus; Lentivirus; and A.A.V. It also has capacity to produce over 60 million units of sterile drug product for vials, syringes, and cartridges.
In short, OcyonBio hopes to help InvestPR discuss these benefits in Puerto Rico to incentivize pharmaceutical companies in India to consider doing business in Puerto Rico for an innovative way forward.