WI: Governor Doyle Announces Technology Venture Fund Loan and Qualified New Business Venture Certification for Zurex Pharma, Inc.
20 Dec, 2010
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Governor Jim Doyle recently announced that Zurex Pharma, Inc., Madison, Dane County, will receive a $250,000 Technology Venture Fund loan and Qualified New Business Venture certification from the Department of Commerce (Commerce) to continue the development of products for the prevention of healthcare acquired infections.
The company's QNBV certification by Commerce makes investors in Zurex Pharma, Inc. eligible for a 25-percent tax credit on the amount they invest in the company.
"Furthering the development of innovative solutions in the medical industry is important in growing Wisconsin's economy," Governor Doyle said. "I am pleased we could assist a company that is striving to grow and advance in this field."
"We are very excited about developing our human and agricultural technologies here in Wisconsin," Carmine Durham said, President and CEO of Zurex Pharma, Inc. "The support from these programs at the Department of Commerce is a critical component of our initial plan and future success."
Zurex Pharma, Inc. develops and commercializes anti-microbial products designed to prevent healthcare acquired infections, such as surgical site infections and catheter-related bloodstream infections. The company is located at the UW-Madison Research Park. For additional information, visit www.zurex-pharma.com.
For more information on Commerce programs and services, contact the Commerce area development manager at http://commerce.wi.gov/BD/BD-AreaDevManagers.html or visit www.commerce.wi.gov/bd/BD-Act255-QNBV.html for more information about the Qualified New Business Venture program.