W.Va. provides financing for firm's protein tech

AP News
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Posted: Nov 16, 2009 12:59 PM

A Morgantown-based company is getting help from the state to develop technology that will help researchers identify disease-specific proteins.

The West Virginia Jobs Investment Trust announced Monday that it has completed a $1.7 million equity and debt financing in Protea Biosciences Inc.

Protea Chairman and CEO Steve Turner says the financing will allow the company to bring the technology to market next year.

Turner says Protea has doubled its work force to 30 full-time employees this year. The company expects to employ 200 workers by 2013.