03 Jun Integrated Genomics will receive $250,00 to relocate to Madison
Governor Jim Doyle announced that Integrated Genomics, Inc. will receive a total $250,000 from the Technology Venture Fund. They will be relocating their laboratory and commercial operations to Madison from Chicago. They estimate that up to 18 new positions will be created.
The Wisconsin Department of Commerce’s Technology Venture Fund Loan program provides low-interest loans to assist small Wisconsin high-technology businesses in searching for angel or other seed capital investment. The $250,000 will be in the form of a $200,000 load and a $50,000 grant from the fund.
“Integrated Genomics, Inc. is exactly the type of company our state should be investing in – companies that are developing innovative solutions in the biotechnology industry,” Governor Doyle said. “I am pleased to welcome Integrated Genomics, Inc. to Madison and to support the company’s efforts in advancing and benefiting the field of microbial genetics.”
“Madison, Wisconsin has the scientific talent pool that a microbial metabolic engineering company requires to be successful,” said Jonathan M. Sheridan, president and CEO of Integrated Genomics, Inc. “Wisconsin has also shown the ability to draw and help develop a rich and thriving biotech community through efforts of the state, local government and not for profit organizations.”
Integrated Genomics, Inc. was founded in Chicago, IL in 1997 and is now a leader in the field of microbial genetics. The company is working on enhancing its current product line and expanding its microbial metabolic engineering services. Integrated Genomics, Inc. plans to use the funds to relocate the laboratory to Madison and purchase equipment.