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Governor Doyle Announces $250,000 Award to Perscitus Biosciences

For Immediate Release: June 1, 2007
Contact: Tony Hozeny, Department of Commerce, 608/267-9661

MADISON - Governor Jim Doyle today announced that Perscitus Biosciences, LLC, Madison, Dane County, has received a $250,000 loan from the Department of Commerce (Commerce).

"Wisconsin is America's leader in biotechnology," Governor Doyle said. "My Administration and I are committed to keeping all of our state's companies and workers at the cutting edge of this industry, to ensure Wisconsin remains home to the best research, the best innovation, and the best companies - giving our state a major advantage in the global economy."

"This award from the State of Wisconsin is a tremendous opportunity for our company, providing the resources to further develop our technologies and attract additional investment." commented James Thomas, M.D., Ph.D., CEO and Chairman of Perscitus Biosciences. "We have rapidly achieved our early proof of concept milestones and this investment will help position Perscitus for the next steps in the development of these promising technologies."

Perscitus Biosciences, LLC was founded in 2006 to develop and commercialize two technologies based on reactive oxygen biochemistry. The first technology is a compound that selectively protects normal cells from the toxic effects of chemotherapy and radiation therapy. The second is a method for determining the function of unknown proteins by identifying protein binding partners in intact cells using reactive oxygen. The company will use the loan to purchase equipment and hire researchers.

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