Gov. Scott Walker announced June 13 that Zurex PharmAgra LLC, Madison, has received the Qualified New Business Venture certification from the Department of Commerce.
The company’s certification by Commerce makes investors in Zurex PharmAgra eligible for a 25-percent tax credit and capital gains tax deferrals on qualified amounts they invest in the company.
“Spurring more venture capital investment is essential to the state’s economic growth,” Walker said. “By encouraging investors to make crucial investments, we are turning great ideas into viable, job-creating businesses. Today, new technology firms are starting and expanding all across Wisconsin.”
“We are very excited about the formation of Zurex PharmAgra and taking our antimicrobial technology beyond human health into agriculture,” said President and CEO Carmine Durham.” Our initial focus will be on the prevention of Dairy Mastitis which is a common and costly challenge for dairy professionals.”
Zurex PharmAgra is a newly formed subsidiary of Zurex Pharma, a mid-stage specialty pharmaceutical company developing proprietary antimicrobial products designed to prevent healthcare acquired infections. Zurex PharmAgra will apply the same technology platform to the agricultural industry with an initial focus on dairy farm applications. For more information please visit http://www.zurex-pharma.com/
For additional information about the Qualified New Business Venture and Qualified New Business Venture Capital Gains programs, please visit www.commerce.state.wi.us/bd/BD-Act255-QNBV.html