Seven small businesses receive state grants to commercialize their products

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Seven small businesses from across the state are set to receive their share of $600,000 in state matching grants to commercialize their products. The funding was provided specifically to small businesses completing a project in either the federal Small Business Innovation Research (SBIR) program or the Small Business Technology Transfer program. This is the latest round of funding provided via the SBIR Advance program.

Recipients are broken into two phases. Those in Phase 1 will get up to a $75,000 matching grant and those in Phase 2 will get up to $100,000.

ReNeuroGen, LLC of Milwaukee was named a Phase 1 recipient. ReNueroGen is a virtual pharmaceutical company developing a drug candidate that has potential to treat a number of oxidative stress and inflammatory-based diseases. The company has also received two other SBIR grants, each about $280,000.

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XLock BioSciences, LLC of Milwaukee is a Phase 2 recipient. The company develops novel engineered chemokine proteins that have therapeutic utility.

Voximetry of Madison is also a Phase 2 recipient. The healthtech software company seeks to help cancer patients treated with radiopharmaceutical therapy. The company also received a $100,000 matching SBIR grant in 2021.

Stem Pharm of Madison is the last Phase 2 recipient. It develops high-value applications of organoids (3D in vitro models) for drug discovery and cell-friendly coatings for the manufacture of cell-based therapies. Stem Pharm also received a $100,000 matching SBIR grant in 2020.

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Cellular Logistics, Inc. of Madison is a Phase 1 recipient commercializing a novel biomaterial that enables cell therapies by increasing cell retention and engraftment and promoting healing in damaged tissues.

Nano RED, LLC, also a Phase 1 recipient, is developing precision delivery technologies to power the next generation of RNA and immunotherapeutics. Its platform technology offers a new way to treat COVID-19 and other emerging pandemic viruses, as well as a new tool to deliver the next generation of RNA therapeutics in cancer.

Stream Instruments of Madison is the final Phase 1 matching grant recipient. The early-stage startup is developing and commercializing technologies to improve the mass range, quantum efficiency and spatial resolution of mass spectrometry.

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“In this round, we have seven high-tech startups that are working to commercialize products in digital health, scientific instrumentation, biomanufacturing and drug and therapeutic discovery,” said Brian Walsh, SBIR program manager. “The SBIR Advance grant funds will help them achieve critical milestones like overcoming regulatory barriers, protecting intellectual property, forging partnerships and raising investment capital.”

SBIR grant recipients receive Center for Technology Commercialization staff support, including Lean Startup training, business plan review and other consulting.

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