Missoula biotech startup, Rocky Mountain Biologicals Inc. looks to go global
A Missoula biotech startup has raised $2.7 million to develop, manufacture and market specialized blood products for use by pharmaceutical and biotechnology companies as well as academic research centers.
"We can be a global company based right here in Montana. It just takes time and money," said Rocky Mountain Biologicals Inc. president Suresh Daniel. The company opened its doors three weeks ago.
Daniel, the former research director at Western Montana Clinic, looked to the local medical community to begin his fundraising. A private stock offering in which he sold 43 percent of the company stock raised $1.5 million from local investors.
Daniel raised an additional $1.2 million with a loan package assembled with help from the nonprofit Missoula Area Economic Development Corp http://www.maedc.org .
Dick King, president of MAEDC, is excited about the company and its potential.
The new business will increase the size of Missoula’s budding biotech industry, and that bodes well for the area economy.
Rocky Mountain Biologicals Inc
6015 Gregs Way
Missoula, MT 59808 -8438
By ROBERT STRUCKMAN of the Missoulian
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