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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Voters to decide whether hunting, fishing is constitutional right
- Dak Prescott's autograph fetches a pretty penny
- Butler Snow names Crockoft new office director
- Farm theft investigation recovers $200K in stolen equipment
- Grand juries charge seven with election violations
- Gulf oil and gas leases to go up for sale in March
- Catfish industry launches TV advertising campaign
- MISSISSIPPI RISING: Time to sell the image
- NCCI petitioning for workers' comp rate decrease
- Student body presidents pushing for on-time graduation