The life sciences industry moves at a rapid pace, driven by constant innovation, market disruption, and evolving regulatory standards. Companies across the industry each face unique challenges depending on their stage of growth or product development. From tax credits and compliance to streamlining your back office or IT solutions and cybersecurity, navigating this complex landscape requires a trusted advisor who understands the nuances of the life science industry and can provide strategic guidance.
Withum’s Life Sciences Services Team delivers tailored advisory, accounting, audit, and tax solutions to privately held, venture-backed, private equity-funded, and publicly traded companies. Whether you’re an early-stage startup, scaling rapidly, preparing for an IPO, or considering an exit, our life science accountants and consultants offer deep industry insight to support your goals.
For early-stage and development-stage companies, one of the largest expenses typically incurred are costs associated with research and development activities (R&D). When developing new products and ideas, opportunities may exist to reduce payroll tax liability by qualifying for a refundable R&D tax credit.
Learn MorePreviously known as OMB A-133 Audits, Uniform Guidance Audits (UGA) are essential to ensure compliance, enhance internal controls, and strengthen an organization’s financial and operational integrity. Withum’s Life Science Services Team is among the few firms with decades of experience understanding and applying Uniform Guidance, the Federal Acquisition Regulation, agency specific grant regulations and guidance, as well as award-specific terms and conditions. Additionally, we have performed numerous program-specific audits for life science companies receiving funding from a variety of Federal agencies.
Learn MoreWithum’s Life Sciences Services Team delivers tailored advisory, accounting, audit, and tax solutions to privately held, venture-backed, private equity-funded, and publicly traded companies. Whether you’re an early-stage startup, scaling rapidly, preparing for an IPO, or considering an exit, our life science accountants and consultants offer deep industry insight to support your goals.The rapid growth of your life science company can often put a strain on internal finance and accounting operations. Outsourced accounting, finance and CFO consulting services can create greater flexibility, compliance and cost savings in a scalable manner to support the growth of your business.
Learn MorePreparing for an IPO (initial public offering) is an enormous task for any company. Going public requires financial statement audits under PCAOB guidelines that will comply with strict SEC regulations. Withum as a firm is registered with the PCAOB and the Center for Audit Quality. Withum is among the firms nationwide that are required to meet the highest level of quality standards for life sciences companies.
Life science companies are a prime target for cyber crime due to the nature and structure of the business. By identifying areas of vulnerability in your IT infrastructure, you can better mitigate the risk of cyber threats by adopting effective cyber and information security strategies.
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For emerging life sciences companies, the Qualified Small Business (QSB) election under IRC §41(h) offers a critical opportunity to monetize research and development (R&D) tax credits by applying them against payroll tax liabilities. However, the strategic decision of when to first make the QSB election is often overlooked. Thoughtful timing, particularly in an industry characterized…
The life sciences industry, encompassing biotechnology, pharmaceuticals, medical devices and diagnostics, is uniquely positioned to benefit from the federal Research & Development (R&D) tax credit under IRC §41. This incentive rewards companies that invest in innovation, particularly where activities involve scientific uncertainty, experimentation and technological advancement. However, while many life sciences companies perform work that…
The Orphan Drug Credit (ODC) is a powerful federal tax incentive designed to encourage the development of treatments for rare diseases, generally defined as conditions affecting fewer than 200,000 individuals in the United States. For biotechnology and pharmaceutical companies advancing therapies through clinical trials, the ODC can deliver a significantly enhanced tax benefit compared to…
The life sciences industry is characterized by high-value intellectual property (“IP”), extensive research and development (R&D), complex regulatory environments, and global supply chains. Life sciences companies are increasingly global from day one where R&D is performed in one country, clinical trials in others, IP held centrally, and manufacturing and commercialization is performed elsewhere. These unique attributes create opportunity, but it also creates tax risk if global structuring and transfer pricing are not…
Massachusetts corporations receiving large cash infusions from equity investors may be surprised to find that the mere act of depositing the cash into their bank account can trigger thousands of dollars in excise taxes, whether they generate taxable income or not. Massachusetts Security Corporations (“MSCs”) can be used to solve this problem. How Can My…
Life Sciences companies are often expanding beyond geographic borders to execute their vision. Whether the need for global expansion is to attract talent, enter new commercial marketplaces, or perform research and development activities, companies need to consider how global expansion impacts their accounting and finance functions. If your life sciences company is expanding into or out of the U.S., Withum is your trusted advisor for global transfer pricing, international tax and tax structuring, R&D tax credits, outsourced accounting, insurance advisory, cybersecurity and connections to the HLB network.
Backed by decades of experience, we help you stay focused on innovation and growth—while we handle the complexities behind the scenes—so you can continue delivering value in a competitive market.
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