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Wisconsin-based GenTel Awarded $250K State Loan

NEW YORK, July 6 (GenomeWeb News) - GenTel BioSurfaces, a Madison, Wis.-based microarray vendor, will receive a $250,000 loan from the state government.

  

According to a report by the Wisconsin Technology Network, the loan is part of the state Department of Commerce's Technology Venture Fund program, which helps small in-state technology companies with funding repayable at low interest rates.

 

The 10-man GenTel shop plans to bring a product to market next year, GenTel president Alex Vodenlich is quoted as stating in the article.

Vodenlich estimated the total cost of bringing its chips to the market could be $1.7 millionThe total cost of the project is about $1.7 million, $250,000 of which has already been offset by federal funding, Vodenlich told the online regional news source.

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