Minnesota's small biotech companies were awarded on Wednesday $23.2 million in grants and credits under a federal program that will go toward funding 115 biomedical projects.
The credits and grants, under the Therapeutic Discovery Project Program, will allow small biotech firms to hire more staff, improve facilities and move forward with their research projects, said Secretary of Health and Human Services Kathleen Sebelius in a statement.
"We can't afford to see promising discoveries discarded or innovative businesses move overseas," Sebelius said. "Thanks to the funding provided today, firms can avoid these roadblocks and continue to do business right here in the U.S."
A full list of recipients can be found here.
The Minnesota companies were part of 2,923 companies that received $1 billion in grants and credits nationwide under the program.
