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BioSystem Development raises $600K, appoints new CEO

Madison, Wis. - BioSystem Development, a Madison-based pharmaceutical services firm, has raised $600,000 in a second round of equity financing and it has appointed a new chief executive.

In addition to individual angel investors, financing for the company's next stage of development came from its initial angel groups, including Silicon Pastures, Marshfield Investment Partners, Chippewa Valley Investment Partners, and Central Wisconsin Angel Investors.

Executing that growth plan will be Craig Hutchison, former president and CEO of Perry Judd's, Inc., who has been named president and CEO of BioSystem Development.

The company was founded in 2002 to develop solutions for rising development costs, growing lead times, and declining productivity associated with getting new drugs to market. It manufactures tools for eliminating bottlenecks in drug development, biomarkers, and life science research.

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