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VitalMedix President and CEO Jeffrey Williamscited Wisconsin’s tax incentives for thosw investing in growing businesses, and a larger more aggressiver group of angel investors in the state, as reasonsd for the move. Williams told the Milwaukee Journal Sentinel is negotiatinh leases in either Hudson or New Richmond and expects to move withij90 days. VitalMedix, which according to its Web site has raiseed atleast $1 million in capital, is developing a producty called Tamiasyn that’s intended to help the body endured severe blood loss. The Defense Advanced Research Projecte Agency atthe U.S.
Department of Defense has fundes research at VitalMedixsince 2005, accordintg to the company’s Web site. Much of that research has been conductedc atthe , a shareholder in VitalMedix. Wisconsimn has nabbed other Minnesota biotecj companies in past and tried to lureotherx — in 2005, it tried to lure artificial-liver company though that firm is still in Minneapolis, for One of the supposed draws of the statre is a tax system that favors more privatew investment, as well as a state investmenf fund that can back startup companies (Minnesota considered a similaer investment policy, but its pension fund’s rulesd wouldn’t allow it).
But overall, Minnesota stilk draws much higher levelsof life-scienced investment than Wisconsin, at least according to Ohio-basexd BioEnterprise, which tracks investment Its Midwest report last year foundd that Minnesota led the region for health-sector investment in with $319 million going into companiesz here. Wisconsin firms drew $49 million in the same
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