Madison-based pharmaceutical developer looking to address the opioid crisis won the Wisconsin Governor’s Business Plan Contest Thursday.
Plumb Pharmaceuticals, which is developing a drug delivery method that will help people battling opioid addiction, will receive cash and in-kind services for winning the grand prize of the contest at this year’s Wisconsin Entrepreneurs’ Conference.
Of 200 entries, judges selected by the Wisconsin Technology Council, which puts on the contest and conference, winnowed the list to 12 finalists. Those companies created pitch videos that judges reviewed ahead of the conference.
“I’ve already been contacted by a few interested investors, so that’s certainly a positive outcome,” CEO Jacqueline Hind said.
Timothy Heath and Lisa Krugner-Higby, who founded Plumb about 10 years ago, have created a formula of liposomes that, when loaded with medication and injected under the skin, slowly releases the medication.