Madison biotechs get Commerce grants

Governor Doyle announced Tuesday that two Dane county businesses will receive funding for their technology development projects through the Department of Commerce Technology Assistance Grant program.

BioSystem Development LLC of Middleton, will receive $11,250 to assist in its development of improved methods of protein analysis.  The company will use this award to finish a patent-filing project.

"Since we are not a university spin-off, we have not had the benefit of WARF to complete our patent filings, and it has been challenging to raise seed round investment money without having our intellectual property situation well under control," said Scott Fulton, a BioSystem representative.

The second grant recipient, Quintessence Biosciences of Madison will receive $15,000. The company develops protein-based therapeutics to treat disease.  The company will use the funding to hire professional grant researchers and writers.

"[We] will be able to expand our work force, increase the amount of money spent for research and development, and speed up the process of product development," said Ralph Kauten, a Quintessence representative. The Technology Assistance Grant program offers grants of up to $15,000 to early-stage Wisconsin high-tech companies. This money offsets the investment into hiring qualified professionals.

"It's our belief that the government and the university are both doing as much as they can to help get a vibrant entrepreneurial base working in the area, and that they are doing very well," Fulton said.