Ablitech receives more ‘Seed’ money from MTA
RIDGELAND and HATTIESBURG — Mississippi Technology Alliance (MTA) president and CEO Tony Jeff announced that Ablitech Inc., a biotechnology company based in Hattiesburg, has received a second round Research and Development investment from the Mississippi Seed Fund.
Ridgeland-based MTA invested $100,000 in Ablitech for further product and market development of Versadel, the company’s proprietary gene therapeutic delivery technology.
Ablitech received a first-round investment of $100,000 from the Seed Fund in Sept. 2009. The company achieved all goals and milestones in their first round of funding, which made them eligible for second round funding.
“MTA’s investment helps move our technology for delivering gene therapeutics from the laboratory to the marketplace,” said Ken Malone, co-founder and CEO of Ablitech.
The Mississippi Seed Fund was established by the Mississippi Legislature to provide start-up technology companies with access to pre-seed financing, early stage risk capital and product development capital to accelerate the development of high-performance, innovation-based business ventures in Mississippi. The fund is managed by the MTA.
Recipients must have a cash match from accredited investors to obtain funding.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Prescription for success — Transcript Pharmacy continues fast growth
- Study: Mississippi has highest sales tax rate in U.S.
- MSU researchers develop timber-management software
- New law on taxing methods hailed as big win for businesses
- Panther Creek megasite — Putting a value proposition out there
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- BBB issues warning involving asphalt paving scam
- Running luxury car dealerships, like Mercedes of Jackson, comes naturally to Trudy Higginbotham Moody
- Chris McDaniel responds to radio show audio clip