Tech and Biotech: Madison’s InvivoSciences to work with Rhode Island company
InvivoSciences, a Madison biotech, is teaming with Myomics, of Providence, R.I., to provide screening services using their combined resources.
InvivoSciences provides engineered human heart tissues for companies working on drugs to treat heart disease while Myomics offers engineered muscle tissues to drug companies focused on fighting muscular dystrophy.
Both companies also have developed robotic systems used to examine the tissues in three-dimensional models. They say their systems can help predict the safety and effectiveness of drug compounds early on.
InvivoSciences had a lab in Waukesha but moved all of its operations to Madison, CEO Ayla Annac said.
The company has four employees, down from nine last year, and raised $4 million in grants and private funding since it was founded in 2001. Annac said InvivoSciences is trying to raise another $3 million to $5 million to expand to the global market.
InvivoSciences was named this week as one of three finalists in the category of science or medical analytic systems for the Edison Awards, honoring innovation in product and service development. The other finalists in that category are 3M and CardioDX.
Only one other Wisconsin company was named as a finalist in the competition: Johnson Controls of Glendale is a contender for the Edison Green Award.