Commerce board approves 3 innovation vouchers, tax incentives

PROVIDENCE – The R.I. Commerce Corp. board of directors voted to approve three innovation vouchers Tuesday evening, each for a value of $50,000.

The award recipients were Alcinous Pharmaceuticals LLC, Circadian Positioning Systems Inc. and Gliaview LLC.

Alcinous Pharmaceuticals, located in East Providence, will use the voucher to work with the University of Rhode Island to optimize and scale-up the synthesis and pre-clinical assessments of the chemical and biological characteristics of novel small molecules designed for the treatment of BCRA 1/2 mutated cancers.

Circadian Positioning Systems, located in Newport, will use the voucher to work with Bradley Hospital to conduct a scientific assessment of a smart olfactory system and its impact on sleep and human performance

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Gliaview, headquartered in Providence, will use its voucher to work with Brown University to help identify commercially available biopolymers with characteristics ideal for the Gliaview device and to perform analysis on skull geometry to recommend standard prothesis sizes.

Commerce RI’s board also voted to approve $2.2 million in Rebuild Rhode Island tax incentives for the $15.5 million Farm Fresh Rhode Island food hub project in Providence.

The board also approved $200,000 in incentives for the National Sailing Hall of Fame under the First Wave Closing Fund program for its relocation to the Newport Armory from Annapolis, Md. Commerce RI said the project to build out the museum is expected to cost $4.5 million.

“With today’s exciting announcements, it’s clear that our commitment to economic development and job training is paying off,” said Gov. Gina M. Raimondo. “Thanks to Rebuild Rhode Island – which has already created more than 10,000 jobs in our state – Farm Fresh Rhode Island is expanding. Moving the National Sailing Hall of Fame to Newport will cement the city’s status as the sailing capital of the world. And our Innovation Vouchers will support industry-leading research and development projects right here in Rhode Island.”

Chris Bergenheim is PBN’s web editor. He can be reached at bergenheim@PBN.com.

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