20 Aug ConjuGon Awarded $250,000
Madison, WI— ConjuGon, a Madison-based biotechnology company determined to solve the global antibiotic resistance problem, has been awarded a $250,000 Technology Development Fund Loan (TDF) from The Wisconsin Department of Commerce. The company plans to use the low-interest, deferred-payment loan to develop its proprietary technology for treating and preventing bacterial infections.
“The Technology Development Fund is a spectacular asset to Wisconsin,” said ConjuGon president Marcin Filutowicz. “We are fortunate that our state recognizes the long-term benefit of cultivating our Wisconsin businesses and keeping our hard-working employees here.”
According to the Department of Commerce, the TDF loan program was established in 1984 to help Wisconsin businesses research and develop technological innovations that have the potential to provide significant economic benefit to the state.
“I am pleased that we could support ConjuGon’s continuing efforts to develop effective treatments for bacterial infections,” said Department of Commerce Secretary Cory L. Nettles. “Promoting the growth and development of technology companies in our state is a cornerstone of Gov. Jim Doyle’s Grow Wisconsin Initiative.”
ConjuGon is a spin out from the University of Wisconsin and its technology is licensed to the company by the Wisconsin Alumni Research Foundation. “WARF is pleased that the state has recognized the potential of technology developed at the University of Wisconsin-Madison. The company is another example of the role our great university plays in starting new companies and creating new jobs,” said Carl Gulbrandsen, managing director.