Wisconsin Biotechnology & Medical Device Association
Manchester Place – Capitol Square
2 E. Mifflin St., Suite 600
Madison, WI 53703
www.wisbiomed.org
www.wisbiomed@dewittross.com
FOR IMMEDIATE RELEASE: November 17, 2004
Contact:
Jim Leonhart
Executive Vice President
Wisconsin Biotechnology & Medical Device Association
608-252-9393
The Wisconsin Biotechnology and Medical Device Association, which has a key role in promoting the life science industry in Wisconsin, is very encouraged by the opportunity for private investment in a new research facility at UW-Madison and by the refocused effort to make venture capital available to new biotechnology and health science businesses as outlined in the Governor’s announcement today at the Biotechnology Center on the UW-Madison campus.
“We see a significant opportunity for investors to join with researchers at an earlier juncture in the process of creating new businesses in Wisconsin,” says Jim Leonhart, Executive Vice President of the Association. “The result is a truly collaborative model which could have more impact on advancing discoveries and subsequently creating thousands more biotechnology and medical device jobs than any California initiative.”
Further, the Governor’s commitment to quickly implement the provisions of Act 255, leveraging $250 million in venture capital and providing grants and loans to start-ups, is telling Wisconsin companies to stay at home. A strong nucleus of biotechnology companies is being created and now is the time to strengthen that base of companies so that the investment community will recognize Wisconsin as the Third Coast Scientific Community.
“We feel that it is very wise to incrementally grow the $1 billion already invested in the state’s life science research infrastructure, and giving new incentives to private enterprise is a wise decision,” said Leonhart.
