AMF-Nano leverages microloan to help commercialize tech

A small Ann Arbor-based bio-tech start-up recently received a little infusion of cash, with which it expects to make a big splash next year. AMF-Nano recently received financing from the Michigan Microloan Fund, where the microloans usually average about five figures in size. The 3-year-old start-up plans to use that money to continue the development of its innovative nano sensor that could help detect heart attacks and be implanted in pacemakers. "There is a need for instruments to be smaller, cheaper and better for the human body," says Rakesh Kapragadda, president & chief scientist of AMF-Nano. The two-person team is working out of the University of Michigan's Kellogg Eye Institute where it is developing a smart sensor system. That system could be used by cardiac patients to help self-monitor their own heart for signs of heart attacks instead of habitually visiting medical centers for checkups. Another version of the platform could be used in pacemakers. "All of the funds will go toward the commercialization of these technologies at the University of Michigan," Kapragadda says, adding he expects his start-up to commercialize the technology within six months. Source: Rakesh Kapragadda, president & chief scientist of AMF-Nano Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.