Three Wisconsin companies focused on stem cell research are merging.
The companies are joining under the banner of Cellular Dynamics International (CDI), based in Madison. Stem Cell pioneer, Dr. James Thomson, says they're looking at the commercial use of stem cell technology.
Already, the company has contracts to develop stem cells for cardiac drug testing. Thomson believes the technology will eventually be used to test all medications before they go to market.
The two companies joining CDI are Stem Cell Products and iPS Cells. Thomson had a role in founding all three companies as a way to commercialize the discoveries made at the UW-Madison.
The merged companies will employ nearly 50 people and have been able to attract over $18 million in private funding. Thomson says they were able to get all of the capital they need from Wisconsin investors, which helps to make sure the research is still done in the Badger State.
AUDIO: Andrew Beckett reports (MP3 1:20)
