Gema Diagnostics set to close on $2M Series B round

Gema Diagnostics recently landed an investment from the Pure Michigan Venture Match Fund, which is part of a $2 million Series B round of venture capital the bio-tech start-up expects to close on later this month. Gema Diagnostics raised $625,000 in a Series A round when it launched in 2006, licensing technology from Michigan State and Yale universities. Its most recent round of seed capital comes from North Coast Technology Investors (which led the round), the First Step Fund and the Blue Water Angels. "It will be for a pivotal clinical trial to get the company's product to market," says Dave Repp, president & COO of Gema Diagnostics. Gema Diagnostics is developing technology that will help improve the odds of a successful in vitro fertilization. "Our tool will help clinicians figure out which of a woman's eggs is the best to fertilize," Repp says. "No other non-invasive technology can do that." Repp expects the final clinical trial to take six months and wrap up later this year, which should prompt the two-person start-up to expand its staff. Commercialization could begin by the end of the year. Source: Dave Repp, president & COO of Gema Diagnostics Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.