UW spinoff receives $150,000 investment

InBusiness Madison

BrightStar Wisconsin Foundation Inc. announced a $150,000 investment in the University of Wisconsin licensed spinoff company Immuto Scientific Inc., according to a release from Brightstar. The 3-year-old Madison startup has developed a process that enables pharmaceutical companies to analyze biomolecules with unprecedented speed, resolution, and accuracy. This funding round will allow the founders, led by co-inventor Dr. Michael Sussman and CEO Faraz Choudhury, to scale up the needed equipment and manpower to provide commercial analytical research to already identified drug discovery customers. The Immuto technology was developed using $1.4 million in nondilutive funds via a collaboration between the University of Wisconsin labs of the Electrical Engineering and Biochemistry departments. BrightStar co-invested with Wisconsin Investment Partners, Wisconsin Alumni Research Foundation, Marquette Golden Angels, and the newly formed Milwaukee Venture Partners fund.

Reposted from InBusiness Madison