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Governor Doyle Announces $250,000 Loan For Cell Line Genetics, LLC
For Immediate Release: April 7, 2009 MADISON - Governor Jim Doyle today announced that Cell Line Genetics, LLC in Madison has received a $250,000 Technology Venture Fund loan to develop two new technologies for stem cell research. Governor Doyle's Department of Commerce has also certified the company as a Qualified New Business Venture eligible for investor tax credits under the Angel Investor and Venture Fund Tax Credit programs. "Wisconsin is a world leader in stem cell research and development. During this national economic downturn, it's important we keep moving forward and continue creating the processes and products that will create the jobs of the future for hardworking Wisconsin families," Governor Doyle said. "I am pleased that we can help Cell Line Genetics, LLC with their development costs." "We are very excited and thankful to receive this award from Governor Doyle as it allows us to accelerate our product development effort and improve the research process for our customers," said Cell Line Genetics, LLC Co-founder and Chief Science Officer Dr. Lorraine Meisner. Cell Line Genetics, LLC, established in October 2005, provides cell line characterization services to stem cell researchers across the country. The independent company plans to use the funds to develop stem cell related quality assurance products, and to expand the company's technology capabilities. Total project cost is about $2.1 million. For more information on Commerce programs and services, contact the Commerce area development manager at www.commerce.wi.gov/BD/BD-AreaDevManagers.html. -30- |
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