Soligenix Receives $490,000 in Non-Dilutive Financing from New Jersey’s Technology Business Tax Certificate Transfer Program

PRINCETON, N.J., Dec. 9, 2015, SNGX, /PRNewswire/ Soligenix, Inc. (OTCQB: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need, announced today that it has recently received approximately $490,000, net of transaction costs, in non-dilutive financing via the state of New Jersey s Technology Business Tax Certificate Transfer Program (the Program). This Program enables approved, unprofitable biotechnology businesses to sell their unused Net Operating Loss Carryovers (NOLs) and unused Research and Development (R&D) Tax Credits to unaffiliated, profitable corporate taxpayers in the state of New Jersey. This allows biotechnology businesses with NOLs to turn their tax losses and credits into cash proceeds to fund more R&D, buy equipment and/or facilities, or cover other allowable expenditures. The New Jersey Economic Development Authority (NJEDA) determines eligi
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