Since 2001, Protea Biosciences, Inc. has been researching and developing new medical technology right here in West Virginia. The first biotechnology company in the state, Protea has grown into a global company in marketing and sales. As President and CEO Steve Turner said, the company is a “pioneer” in regards to their research and development and establishment in the state. The company’s products help researchers identify potentially disease-causing proteins which can lead to new developments in pharmaceutics for that field.
As sales and funding grow, so does the company. Protea now manufactures over 200 products and employs more than 30 full-time workers in their 7,000 square foot laboratory right off the Mileground in Morgantown. Just in the last six months, the company has seen dramatic growth in sales and the future keeps looking bright for such increases, especially since their customer base has swelled to 300 worldwide. Many of the full time employees are graduates of West Virginia University, and were born and raised in WV.
The West Virginia Jobs Investment Trust, a state-run investment company, has invested $1.7 million in Protea Biosciences and plans to purchase stock in order to help create new opportunities for research, development and careers. Andy Zulaf, executive director of WVJIT, said this about the initiative, started in 1992:
“Our mission is to provide equity capital to West Virginia-based companies with the goal of providing a financial return to the taxpayers of West Virginia, as well as stimulating social and economic returns in the form of job creation, job retention, and diversity of our economic base.”
In essence, the technology and research done at Protea is not only advancing the global field of medical technology, but also the economy of our great state of West Virginia. The combination of support from the University and Protea Biosciences strengthens the “next generation technology” and resident’s livelihood.
To access the full article by Jessica Legge Borders at timeswv.com, please click here.
Posted by Natasha Catino on February 12, 2010 at 11:30 am in the following categories: Protea Biosciences
