RetroSense Therapeutics has raised about $1 million in seed funding over the last year, allowing it to build up its business in Ann Arbor.
"It has been instrumental in getting some of our operations off the ground, namely manufacturing of our product," says Sean Ainsworth, CEO of RetroSense Therapeutics
. "We have also built out our team a little bit."
RetroSense Therapeutics is developing gene therapy for vision restoration with technology licensed from Wayne State University in Detroit. The two-year-old firm is extracting a new gene from blue-green algae that helps make cells more photo sensitive. The idea is to apply this gene to human cells to regenerate photo receptors in the retina.
The start-up has also built out its team to three employees and a few independent contractors. It plans to add a chief medical officer and a finance position over the next year as it works to complete its pre-clinical trial and prepare for its clinical trial. It has also recently made the semi-finals of the Accelerate Michigan Innovation Competition, where it hopes to take home the $500,000 grand prize and some leads for more seed funding and strategic partnerships.
"It's just good exposure," Ainsworth says. "Not just to the venture capital community but for the local entrepreneurial community as well."
Source: Sean Ainsworth, CEO of RetroSense Therapeutics
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.