Contacts: Tony Hozeny, Department of Commerce, 608-267-9661
Laura Smith, Office of the Governor, 608-261-2162
MADISON—Governor Jim Doyle announced today that Addiction Therapeutix, Inc., Wauwatosa, Milwaukee County, has received the Qualified New Business Venture certification from the Department of Commerce (Commerce) for developing medications for the treatment of various drug addictions and related illnesses. Commerce certified the company as eligible for up to $1 million in investor tax credits.
The company’s certification by Commerce makes investors in Addiction Therapeutix, Inc. eligible for a 25-percent tax credit on the amount they invest in the company.
“My administration is committed to helping businesses with their efforts to support new economic development opportunities,” Governor Doyle said. “Addiction Therapeutix is built on a foundation of innovative technology and strong leadership. I am very excited to support a company that represents the future of Wisconsin’s economy.”
Since taking office in 2003, Governor Doyle has worked aggressively to help Wisconsin’s businesses grow and create and retain jobs in the state. Governor Doyle’s budget last year created some of the strongest economic development tools in the nation to help businesses create jobs and get people back to work. Wisconsin now has powerful new tax credits to help manufacturers create and retain jobs, new tools to help investors create start-ups, and new incentives to spur research and development.
Addiction Therapeutix, Inc., an affiliate of MPP Group, LLC, was founded in September 2009. The company is in the process of developing medications for the treatment of alcohol and drug addiction. For additional information about Addiction Therapeutix, Inc. and its development of drug abuse treatment medications, please visit http://www.addictiontherapeutix.com.
For additional information about the Qualified New Business Venture program, please visit http://www.commerce.state.wi.us/bd/BD-Act255-QNBV.html.