MIDDLETON, Wis., – Zurex Pharma, Inc. (Zurex), a life sciences company with a novel antimicrobial technology platform, announced today it has raised $6.2 million in Series A financing, led by Baird Venture Partners and the State of Wisconsin Investment Board (SWIB), with participation from Wisconsin Investment Partners, Peak Ridge Capital and individual investors. Zurex will use the capital to develop and commercialize a portfolio of innovative antimicrobial products designed to prevent healthcare acquired infections with a focus on surgical site wounds and catheterrelated infections.
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Zurex Pharma, Inc. Forms New Agricultural Technology Subsidiary and Appoints Dairy Industry Executive6/28/2011
MADISON, Wis.--(BUSINESS WIRE)--Zurex Pharma, Inc. (Zurex) has officially formed a new Agricultural Technology company, Zurex PharmAgra, LLC. (PharmAgra) in Madison, Wisconsin. The Zurex technology platform consists of proprietary and novel antimicrobial products designed to prevent healthcare acquired infections. The lead product candidates will focus on surgical site infections and catheter-related blood stream infections in the hospital and outpatient settings. PharmAgra will apply the same technology platform to the agricultural animal and veterinary markets. The initial PharmAgra product is a novel non-iodine based sanitizer targeting dairy mastitis. Read the full story on Business Wire
Governor Walker Certifies Zurex PharmAgra
as Qualified New Business Venture
MADISON-Governor Scott Walker today announced that Zurex PharmAgra, LLC, Madison, Dane County, has received the Qualified New Business Venture certification from the Department of Commerce (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," Governor 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 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.
Contacts: Barbro McGinn, Department of Commerce, 608-267-9661
In this edition of "WisBusiness: The Show," the twice-a-month Web show covering state business news and issues, Carmine Durham, president and CEO of Zurex Pharma, talks about their recent fundraising round and how pending legislation could help companies such as theirs obtain more venture capital.
During a recent press conference event and visit to the University Research Park, Governor Walker visited with executives from Zurex Pharma. Carmine Durham, President and CEO of Zurex, showcased the company's line of late-stage antimicrobial products and discussed why recent legislation designed to provide much needed venture capital to Wisconsin companies is so important.
Peak Ridge Capital announced today that it made investments in Zurex Pharma, Inc. and its subsidiary, Zurex PharmAgra, LLC, Madison, WI-based specialty pharma and agricultural technology companies. This investment is Wisconsin Act 255 certified and marks Peak Ridge Capital's eleventh investment into a Wisconsin-based company. The Series A financing involves a $1M commitment to Zurex.
A Madison company with a unique infection-fighting technology has raised $1 million in venture capital. Zurex Pharma Inc. raised the money from the Peak Ridge AgTech Fund, which is managed by Peak Ridge Capital, a Boston-based venture capital fund with offices in Madison. Zurex's technology has "tremendous potential" to prevent infections humans acquire in health care settings as well as dairy mastitis, said Jason Smith, a general partner in the AgTech Fund.
New Ag Products
ZuraLac™ is specifically formulated to sanitize and protect teats from mastitis causing organisms, and protect teat skin tissue from harsh environmental conditions.
Zurex Pharma's corporate office is located in the Middleton Industrial Park. Specific comments or questions may be submitted online through our contact page.