Lured by the state's tax credits for investments in high-growth companies, a Minneapolis biotech start-up said Thursday it is moving to Wisconsin.
VitalMedix Inc. is developing a drug that could be used by first responders to potentially keep trauma victims alive longer. The drug, called Tamiasyn, has been tested in animals and could go into human trials as early as a year from now, said Jeffrey M. Williams, the company's president and chief executive officer.
"This sort of deal is better understood by investors in Wisconsin, and angel groups in Wisconsin are not only more aggressive, there are just a lot more of them," Williams said. The state has 22 organized angel investing groups, up from just a handful five years ago, according to the Wisconsin Angel Network.
