X-Message-Number: 15303 From: "John de Rivaz" <> Subject: raising money for research other than by asking for gifts Date: Tue, 9 Jan 2001 17:32:40 -0000 I wonder if this is of any use or interest to people running or considering running research companies into cryonics and related matters: >>>>>>>>> ALTEON INC. SELLS NET OPERATING LOSS CARRYFORWARDS UNDER NEW JERSEY PROGRAM; RAISES MORE THAN $1.5 MILLION Ramsey, New Jersey, January 9, 2001 - Alteon Inc. (AMEX: ALT) announced today that it has received $1,547.762.00 from the sale of its net operating loss carryovers (NOLS) under the State of New Jersey's Technology Business Tax Certificate Transfer Program (the "Program"). The Program is an initiative passed by the New Jersey State Legislature that allows qualified technology and biotechnology businesses in New Jersey to sell unused amounts of NOLS and defined Research and Development tax credits for cash. "This Program is of significant value to Alteon as we prepare for further Phase II development of our lead A.G.E. crosslink breaker compound ALT-711," said Kenneth I. Moch, President and Chief Executive Officer. "I am pleased to report that with this non-dilutive funding, as well as our efforts to control costs, Alteon has approximately $11 million in cash at this time." Alteon may again participate in the Program for the year 2001. The actual amount of tax credits the Company may sell will depend upon the allocation among qualifying companies of an annual pool established by the State of New Jersey. <<<<<<<<< Of course it may rely on the company being a public one and countless other legal restrictions. But it may be worth a look for someone. -- Sincerely, John de Rivaz my homepage links to Longevity Report, Fractal Report, music, Inventors' report, an autobio and various other projects: http://www.geocities.com/longevityrpt http://www.autopsychoice.com - should you be able to chose autopsy? Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=15303