07 Feb Five more companies eligible for Act 255 investor tax credits
Potential investors in five more Wisconsin companies qualify for tax credits under Act 255, legislation passed last year to provide financial assistance to start-up companies, Governor Jim Doyle said on Friday.
One of the act’s provisions allows angel and venture investors to claim tax credits after financing technology firms from a pre-approved list, which now includes 12 companies.
Most companies on the list are in the life sciences, including the five added last week.
Quintessence Biosciences, a seven-year-old company based in Madison, develops protein-based theraputics. (Previous coverage).
OvaTech makes feed additives to enhance the growth of livestock. Incorporated in 2001 in Madison, the company injects hens with proteins that cause their eggs to be rich in growth-promoting antibodies. (Previous coverage.)
Botanic Oil Innovations, out of Spooner, makes botanical oils meant for cancer theraputics and nutritional products.
GenTel BioSurfaces, established in Madison in 2000, makes biochips that allow lab researchers to place many tiny drops of sample chemicals onto a single slide, streamlining tests and using up only small amounts of test substances.
Marvel Medtech, out of Cross Plains, was formed in 2002 to develop a device that can be fitted onto magnetic resonance imaging (MRI) scanners.