Chromatin Receives Illinois State Funding to Advance Mini-Chromosome Technology.CHICAGO -- Chromatin chromatin: see chromosome. , Inc., announced today that it has received grant funding through the Biotechnology / Bioscience Training Investment Program (BioTIP), The Illini-Entrepreneurship Center Network (IECN) / Champaign County Champaign County is the name of several counties in the United States:
The Morrill Act of 1862 granted each state in the United States a portion of land on which to establish a major public state university, one which could teach agriculture, mechanic arts, and military training, "without excluding other scientific (UIUC UIUC University of Illinois at Urbana-Champaign ). The BioTIP and IECN programs were promoted by Governor Blagojevich and funded through The Illinois Department of Commerce and Economic Opportunity and the Internship in Entrepreneurship program is funded by the Academy for Entrepreneurial Leadership (AEL AEL Association Electronique Libre AEL Appalachia Educational Laboratory AEL Arabisch Europese Liga AEL Agence de l'Energie AEL Arab European League AEL Accessible Emission Limit AEL Acceptable Exposure Limit AEL Arquivo Edgard Leuenroth ) at UIUC. These funds will be matched by contributions from Chromatin and will be used to further develop and license the company's gene stacking technology. Founded at the University of Chicago, Chromatin is developing and marketing novel proprietary technology that uses a plant's own DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. to add several new traits to crops. These mini-chromosomes can be used in any plant and benefit agriculture and biofuels production. Kathryn Hyer, of IllinoisVENTURES, an investor in Chromatin, commented, "It's great to see the combination of state programs supporting game-changing technology conceived and developed in Illinois." Funding through BioTIP and the Academy for Entrepreneurial Leadership has expanded Chromatin's work force. BioTIP provides unique opportunities for Illinois employees to gain skills for a career in biotechnology. Dr. Gary Rudgers, who heads Chromatin's operations said, "BioTIP funding has allowed Chromatin to hire four highly skilled and knowledgeable employees who have contributed greatly to Chromatin." AEL's Executive Director, Tony Mendes Tony Mendes (born August 10, 1977) is an American professional bull rider. Career He started riding at age 3 on top of a sheep. Over the years he progressed from sheep to calves and steers, before climbing on his first bull at age 14. , explained the Internship in Entrepreneurship program's purpose, saying, "The internships give talented students experience working in a fast growth venture. And the Academy's financial support for the students' salaries is a tremendous value for these young companies. It's a huge benefit for both." Chromatin will use the IECN funding to expand its mini-chromosome licensing activities. Dr. Daphne Preuss, Chromatin's President said, "Chromatin's non-exclusive licensing model is providing the company with access to the entire market for major agbiotech crops. Chromatin has a partnership in place with Monsanto Company; with the IECN funding we are launching additional partnerships both with major ag-biotechnology companies, as well as the non-profit sector The nonprofit sector, also called the third sector, civic sector or voluntary sector, is a third area of an economy, distinct from the public sector and the private sector. It is made up of all of the non-profit organizations in the economy. ." IECN is aimed to serve as a catalyst for high-growth potential small- and medium-sized business enterprises that will grow and create jobs in Illinois. For more information about Chromatin, Inc., please visit www.chromatininc.com |
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