Intensity Therapeutics, Inc. (private) announced the Connecticut Innovations approved the Company as a “Qualified Connecticut Business” (QCB). The Company was so designated after filing an application with Connecticut Innovations. “We are pleased to be one of the few specialty pharmaceutical companies in Connecticut approved as a Qualified Business”, said Lewis H. Bender, President & CEO of Intensity Therapeutics. “This designation will allow potential Angel investors to obtain a significant tax credit on their investment in our Company.”
About the Angel Investor Tax program
The State of Connecticut launched a program in 2010 that allows Angel Investors to take a credit against Connecticut State income tax for certain investments made in qualifying businesses. Investments must be at least $25,000 in order to be considered under the Program and the income tax credit equals 25% of the cash investment up to a maximum credit of $250,000.