For Immediate Release:July 11, 2005

Contact:Tony Hozeny, Department of Commerce, (608) 267-9661
GOVERNOR DOYLE ANNOUNCES FUNDING FOR QUINCY BIOSCIENCE, LLC

MADISON - Governor Doyle today announced that Quincy Bioscience, LLC, Madison, Dane County , will receive $155,000 from the Department of Commerce (Commerce) Technology Venture Fund (TVF) program.

"Through my 'Grow Wisconsin ' initiative, we are supporting and assisting entrepreneurs develop new high-tech businesses to create more good paying jobs for our state," Governor Doyle said. "Companies like Quincy Bioscience, LLC help continue to move Wisconsin 's economy to the high end. I am pleased that we could assist with the growth and development of this great Wisconsin company."

"The State has been very helpful in providing assistance as we grow and they have nurtured a very pro-growth environment for the biotechnology business in Wisconsin." commented Mark Underwood, the COO of Quincy Bioscience. "We have data now that show a significant neuroprotective effect of our therapeutic and we have started hiring for our lab in Milwaukee and our offices in Madison . Commercializing this technology now becomes the key to our success."

Quincy Bioscience, LLC develops treatments for neurodegenerative diseases such as Alzheimer's and Parkinson's diseases. The company will use the funds to purchase equipment. The total project cost is $848,135.

The TVF program provides low-interest loans to Wisconsin high-tech companies with fewer than 100 employees that are seeking angel or other seed capital investment to facilitate the capital search.

For more information about Technology Development programs, contact John Stricker, Commerce, at (608) 261-7710.