10 Jul Minneapolis biotech firm moving to Wisconsin
Posted at 12:50h in Biotech, Digest, Economy 0 Comments
Lured by the state’s tax credits for investments in high-growth companies, a Minneapolis biotech start-up said Thursday that it was moving to Wisconsin.
VitalMedix Inc. is developing a drug that first responders, trauma center surgeons and military medics could use. The drug, Tamiasyn, has the potential to allow humans to endure severe blood loss and inhibit organ damage during resuscitation. It has been tested in animals and could go into human trials as early as a year from now, said Jeffrey M. Williams, company president and chief executive.
“This sort of deal is better understood by investors in Wisconsin,” Williams said. “Angel groups in Wisconsin are not only more aggressive, there are just a lot more of them.”
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