16 Jun Technology development projects receive funding
Madison, Wis. – Governor Jim Doyle today announced that three Wisconsin businesses will receive funding for technology development projects from the Department of Commerce Technology Matching Grant (TMG) and Technology Venture Fund (TVF) Programs.
The projects are as follows:
• Quintessence Biosciences, Inc., is a Madison company established in 1998 to focus on the development of novel protein-based therapeutics for a variety of disease states. It will receive a $250,000 TVF loan for working capital necessary to expedite the development of cancer therapy. The total project cost is $3.2 million with investor financing of $3 million.
• GWC Technologies, Inc., is a Madison company established in 1997 to develop instruments, supplies and reagents for the life science and materials science research. It will receive a $200,000 TVF loan for working capital needs related to the development of a new instrument. The total project cost is $702,374.
• Bell Brook Labs, LLC, is a Madison company established in 2002 to develop biological assay systems. It will receive a $50,000 TMG for working capital necessary to complete a SBIR Phase II project. The total project cost is $1 million and the company has been approved for a SBIR Phase II application for up to $1 million.