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WI Watchlist: Fiserv, Promega, Arrowhead, Basic-code, EnSync & More

Xconomy Wisconsin — 

The biggest news of the week from Wisconsin’s high-tech sectors was by far Brookfield-based Fiserv’s (NASDAQ: FISV) massive $22 billion deal to acquire First Data (NYSE: FDC). Meanwhile, here are some headlines and happenings you might’ve missed:

Basic-code raised nearly $250,000 in equity funding, according to an SEC filing. The Brookfield, WI-based startup, which offers sales analysis and forecasting software, pulled in more than $736,000 in equity financing last February. Founder and president Audrey Walby previously served as vice president of inventory planning and analytics at online costume retailer BuySeasons. In 2017, she settled a lawsuit she brought against BuySeasons over its use of the sales analysis and forecasting software being commercialized by Basic-code, which she developed before joining BuySeasons, according to a BizTimes report.

—Promega could receive up to $1.5 million in state tax credits over a three-year period to aid construction of its planned 270,000-square-foot research and development facility in Fitchburg, the Wisconsin Economic Development Corp. announced Wednesday. The $190 million project is expected to create 100 jobs. The life sciences firm broke ground on the facility last July—click here to see a photo slideshow.

—Arrowhead Pharmaceuticals (NASDAQ: ARWR) eliminated the position of Peter Leone, the company’s vice president of strategic business initiatives, according to a document filed with the SEC. Leone joined the company in 2012 and served in the lead business development role for almost three years, per his LinkedIn profile.

Pasadena, CA-based Arrowhead operates its laboratories in Madison, WI. In October, the RNA interference drug developer licensed a hepatitis B drug candidate to a subsidiary of Johnson & Johnson (NYSE: JNJ) in a cash and stock deal valued at $250 million up front.

—EnSync (NYSE: ESNC), a Milwaukee-area maker of energy storage and power control products, said that its stock is in danger of being delisted from the NYSE American stock exchange, which lists small- and mid-cap companies. The exchange notified the company that its shares have been selling for a low price for “a substantial period of time,” and EnSync has until July 7 to turn things around, perhaps by enacting a reverse stock split. The company’s share price has mostly stayed below 50 cents since last summer and has rarely surpassed $1 over the past four years.

—Lastly, Xconomy published an analysis of startup exits in Wisconsin over the past five years. We found 33 deals, led by the recently announced $225 million acquisition of Madison-based Propeller Health by San Diego-based medical device giant ResMed (NYSE: RMD). The general takeaway from the analysis is advocates of the Badger State’s startup scene have reasons to feel encouraged, but there’s a lot of room for improvement.