The Capital Times — 6/26/2008 8:22 pm
Perscitus Biosciences LLC of Madison is one of two companies the state Department of Commerce has qualified for investor tax credits under the Angel Investor and Venture Fund Tax Credit programs.
The Angel Investor and Venture Fund Tax Credit programs offer Wisconsin income tax credits to angel investors and investors in seed-stage venture capital funds. The programs are designed to increase the supply of both qualified angel investors and investors in qualified venture capital funds. The tax credits are available only for investments made in technology businesses qualified by the state.
"Spurring more venture capital investment is essential to the state's economic growth," Gov. Jim Doyle said in a statement. "By encouraging investors to make crucial investments, we are turning great ideas into viable, job-creating businesses. "
Founded in 2006, Perscitus is developing and commercializing a novel chemoprotectant molecule and a protein assay. The molecule has shown an ability to protect healthy human cells against the harmful effects of chemotherapy and radiation. The assay allows researchers to accelerate the identification of unknown binding proteins. To learn more, go to www.perscitusbio.com.