About Personal Genome Diagnostics (PGDx)
Personal Genome Diagnostics (PGDx) empowers the fight against cancer by unlocking actionable information from the genome. PGDx was established in 2010 by Johns Hopkins University researchers Luis Diaz and Victor Velculescu, internationally recognized leaders in cancer genomics who have extensive experience in the application of innovative genomic technologies for drug development and clinical practice. In January 2018, the company completed a $75 million Series B co-led by new investor Bristol-Myers Squibb and existing investor New Enterprise Associates (NEA).
PGDx’s knew that they had significantly over calculated and overpaid their taxes to the State of Maryland in their early years due to their R&D status. Because Clearview Group knew how to recoup the funds and navigate the state’s requirements, PGDx engaged Clearview on a contingency basis to study their business, audit previous years’ returns, and report back to PGDx on any overpayments and opportunities for recovery.
How Clearview Gave PGDx a Win
Based on our extensive experience with biotech and pharmaceutical companies, we expected overpayments existed. We toured PGDx’s facility and gained a complete understanding of the Company’s processes including the people/equipment/supplies employed by the Company. We then analyzed the Company’s spending and tax history, and identified areas where the Company wasn’t taking full advantage of various sales tax exemptions. We gathered the necessary documentation and supporting documents, filed the refund claim and worked with the auditor to get it processed and approved.