Accuri Cytometers takes in $15 million in VC, expects to hire 88
Venture capital is almost always a good thing. In the case of Ann Arbor’s Accuri Cytometers, it’s good to the tune of $15 million in cash and 88 new jobs. That $15 million was recently topped with $1.9 million from Michigan’s 21st Century Jobs Fund. All of that money is expected to nearly quadruple the three year-old biotechnology firm’s employee base of 32 people. And the company hopes to grow its manufacturing facility in Ann Arbor soon.Accuri Cytometers specializes in making the cytomer systems that measure T-cell counts (among other things), which is an instrumental tool in tracking and treating diseases like AIDS and cancer. It is a research field with lots of room to grow in both the near and long term.The University of Michigan spin-off is shipping instruments to its first customers in the U.S., and anticipates $3.5 million in sales this year. Revenues are expected to grow to $42 million in 2010. Its annual addressable market potential is somewhere between $363 million and $625 million.Source: Michigan Economic Development CorporationWriter: Jon Zemke
Venture capital is almost always a good thing. In the case of Ann Arbor’s Accuri Cytometers, it’s good to the tune of $15 million in cash and 88 new jobs.
That $15 million was recently topped with $1.9 million from Michigan’s 21st Century Jobs Fund. All of that money is expected to nearly quadruple the three year-old biotechnology firm’s employee base of 32 people. And the company hopes to grow its manufacturing facility in Ann Arbor soon.
Accuri Cytometers specializes in making the cytomer systems that measure T-cell counts (among other things), which is an instrumental tool in tracking and treating diseases like AIDS and cancer. It is a research field with lots of room to grow in both the near and long term.
The University of Michigan spin-off is shipping instruments to its first customers in the U.S., and anticipates $3.5 million in sales this year. Revenues are expected to grow to $42 million in 2010. Its annual addressable market potential is somewhere between $363 million and $625 million.
Source: Michigan Economic Development Corporation
Writer: Jon Zemke
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