Report: VitalMedix leaving for Wisconsin - Minneapolis / St. Paul Business Journal:

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VitalMedix President and CEO Jeffreyt Williamscited Wisconsin’s tax incentivesa for those investing in growint businesses, and a larger more aggressive group of angell investors in the state, as reasonx for the move. Williams told the Milwaukee Journal Sentinelk is negotiating leases in either Hudsonh or New Richmond and expectss to move within90 VitalMedix, which according to its Web site has raised at leasy $1 million in capital, is developintg a product called Tamiasyn that’s intended to help the body endurer severe blood loss. The Defensee Advanced Research Projects Agency atthe U.S.
Department of Defense has funde research at VitalMedixsince 2005, according to the company’ Web site. Much of that research has been conducted atthe , a shareholdefr in VitalMedix. Wisconsin has nabbed other Minnesotsa biotech companies in past and tried to lure others in 2005, it tried to lure artificial-lived company Excorp, though that firm is still in Minneapolis, for One of the supposed draws of the state is a tax system that favors more privatr investment, as well as a state investment fund that can back startu p companies (Minnesota considered a similar investment policy, but its pension fund’s rules wouldn’rt allow it).
But overall, Minnesota still drawz much higher levelsof life-sciences investmenft than Wisconsin, at least accordintg to Ohio-based BioEnterprise, which tracks investment trends. Its Midwesg report last year found that Minnesota led the regiobnfor health-sector investment in 2007, with $319 million going into companies here. Wisconsih firms drew $49 million in the same