27 Aug Doyle announces $630K for Milwaukee biotech
Posted at 11:33h in Biotech 0 Comments
Milwaukee, Wis. – Gov. Jim Doyle said the state will provide a $250,000 loan and $380,000 in grants for assistance over three years to help MPP Group, LLC, a pharmaceutical development company, with its early-stage costs.
The state Department of Commerce has certified the company as a qualified new business venture eligible for investor tax credits under the Angel Investor and Venture Fund Tax Credit programs.
MPP Group, which was founded in 2007, specializes in active pharmaceutical agents that treat a variety of medical conditions.
The company, which is located at the Milwaukee County Research Park, will use Commerce funds for product development and other costs. Overall project costs will approach $20 million.