Grants galore, US is recession profing by encoraging companies in biotechnology industry

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Integrated Genomics gets $250K from Wisconsin State

Wisconsin will provide $250,000 to Integrated Genomics through a combination of a loan and a grant, and the company plans to relocate its laboratory and commercial operations from Chicago to Madison, the state's governor's office said Tuesday. The state will give the microbial genomics and gene expression services and technologies company a loan of $200,000 and a grant of $50,000 from the Technology Venture Fund. It said that Integrated Genomics' move could create up to 18 new jobs.

Compugen Gets $500K in Grants from Israel

The company plans to use the funding to pay for relocating the laboratory to Madison and to buy equipment. Wisconsin Governor Jim Doyle said in a statement that Integrated Genomics "is exactly the type of company our state should be investing in – companies that are developing innovative solutions in the biotechnology industry."

Compugen said today that it will receive grants totaling around $500,000 from the Office of the Chief Scientist of Israel to fund the firm's drug and diagnostic product candidate discovery activities. Tel Aviv, Israel-based Compugen said that it would use the grant money to discover additional drug targets for antibody therapeutics and preclinical nucleic acid biomarkers for drug-induced toxicity. The firm said these activities would be based on "modifying and enhancing" its 10 existing discovery platforms.

Compugen also said that it would use a portion of the funds to develop additional computational methods predicting genes, mRNA transcripts, proteins, and peptides that appear most suitable for development as therapeutic and diagnostic products.



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