From WisPolitics.com/WisBusiness.com …
— A drug discovery company called FAR Biotech has moved to Wisconsin to build on partnerships with researchers in the state.
The company today announced it has set up shop at Forward BIOLABS in Madison.
Max Duckworth, co-founder and director for FAR Biotech, says the team is “thrilled” to join the state’s biohealth community.
“Wisconsin offers scientific excellence and pedigree, a collaborative and entrepreneurial culture, and a strategic, forward-looking mindset,” he said in a statement. “With this move, FAR Biotech is not just opening an office in Madison — we’re committed to building and growing here.”
The business, which is part of the Johnson & Johnson Innovation JLABS ecosystem, was formerly based in Houston, according to an earlier announcement. It’s developing a new drug discovery approach based on quantum mechanics and a proprietary AI system called QuantumAI.
This technology platform has been validated for use across various drug targets, including more difficult ones in oncology, infectious disease and neurodegeneration, according to the announcement. It also notes QuantumAI needs “substantially fewer computational resources” than other AI models, calling that a key advantage amid rising demand for the technology.
The move to Wisconsin comes as FAR Biotech has worked with researchers at the UW-Madison School of Medicine and Public Health’s McArdle Laboratory for Cancer Research, as well as others at the Versiti Blood Research Institute in Milwaukee. The company says it plans to form more research partnerships in the state in the months to come.
Martin Martinov, another company founder and director, is touting Wisconsin’s “depth of scientific thinking” and openness to take on challenging problems.
“Being able to advance our first-principles quantum approach and discover novel therapeutics in close collaboration with world-class researchers here is really exciting,” he said.
See more in the release below.
— Assembly Speaker Robin Vos was noncommittal over whether his chamber will have a floor vote on legislation to require health insurance policies to cover diagnostic breast exams for those at increased risk of cancer.
The Senate passed SB 264 32-1, and the bill was sent to the Assembly Org Committee. Many took that as a sign Assembly GOP leaders planned to kill the bill. The only other bill in the committee would extend postpartum coverage under the Medical Assistance program, which Vos has often derided as an expansion of welfare.
The Assembly Health, Aging and Long-Term Care Committee had planned an executive session on AB 263 earlier today.
“It’s certainly possible,” Vos, R-Rochester, said yesterday when asked about the prospects of a floor vote. “Again, I don’t know if we need it because it’s already been mandated by the feds. That’s what we’re looking into to find the final answer.”
Health, Aging and Long-Term Care Committee Chair Clint Moses, R-Menomonie, called AB 263 an important bill to help with the early diagnosis and treatment of breast cancer.
“I am doing my due diligence as chairman to get good legislation out of committee,” Moses said.
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