Ann Arbor

Adeona Pharma raises $3.5 million in new capital

By Newsroom

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April 13, 2011

Adeona Pharmaceuticals has increased its liquidity by $3.5 million after selling 1.6 million shares of common stock.The Ann Arbor-based company plans to use that new pool of money to further the development of its reaZin and Trimesta pharmaceutical programs. "It enables us to have the funding available for additional programs in the future," says James Kou, CEO of Adeona Pharmaceuticals. "There are a lot of growth opportunities for us."Adeona Pharmaceuticals specializes in drugs that address problems in the central nervous system, such as multiple sclerosis and Alzheimer's. It commonly licenses these drugs at the clinical stage to large pharmaceutical companies.Trimesta, which is well into clinical trials, is being developed for the treatment of multiple sclerosis. So far the trial for the oral drug is 85 percent enrolled and is expected to fill completely later this year. Also in the midst of development is reaZin, a zinc-based medical food product candidate for Alzheimer's.Source: James Kou, CEO of Adeona PharmaceuticalsWriter: Jon ZemkeRead more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

U-M Hospital Medical Procedure Unit to get $6 million addition and new look

By Newsroom

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Development News

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April 13, 2011

Cutting edge concepts are a moving target, particularly in the medical field. Such is the case with the Medical Procedure Unit at the University of Michigan Hospital. At its meeting last month, the university's Board of Regents approved a $6 million expansion and renovation of the unit, considered a state of the art facility upon its opening in 1991. Plans call for a three-phase renovation of 2,200 square feet of existing space and a 4,000-square-foot addition.Visiting patients primarily see gastroenterologists for routine items from upper endoscopy and colonoscopy to more complex treatments. Bronchoscopy, a pulmonary procedure, is also done there. Fifteen to 20 percent of procedures are inpatient, and the rest are outpatient, says Dr. Grace Elta, medical director of the Medical Procedure Unit and a professor of internal medicine at U-M. Two interventional endoscopy rooms will be added by virtue of the fact that the advanced endoscopy field has grown considerably in the last 15 years, Elta says. "It's just going to equip us for new procedures, more expanded use of anesthesia assistance than we've ever had before, and that just really modernizes everything we're doing. It allows us to have more space to do these complex interventional techniques, many of which we didn't do several years ago."Another phase will add prep and recovery space to the unit, which currently has 21 recovery bays. Eight more will be added, and healthy and ill patients will be separated in the new configuration. The waiting room, which currently has inadequate seating, will also be enlarged. Some visitors are issued beepers so they may wait in the cafeteria or other parts of the hospital. The project should start by June 1 and be complete within one year, Elta estimates. "We do about 15,000 procedures a year so we expect that number to tick up when the whole expansion is finished."Source: Dr. Grace Elta, medical director of the Medical Procedure Unit; University of Michigan Board of RegentsWriter: Tanya Muzumdar

Concentrate Speaker Event – Canceled

By Concentrate Staff

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Economic Development

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April 13, 2011

Everyone knows it's all about who you know. Whether it's work, play, politics, or business we're all looking for a community to plug into. Concentrate's monthly Speaker Series has invited A2's version of Kevin Bacon (he's probably far less than six degrees from you) to take us through the ins and out of organizing a successful meet up. Sign up now for Ed Vielmetti's April 21st talk.

Raw Talent: Chef Swaroop Bhojani, PhD

By Tanya Muzumdar

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Arts & Culture

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April 13, 2011

Whether it's in a research lab or restaurant kitchen, the ability to perfectly mix ingredients is vital for success. Dr. Mahaveer Swaroop Bhojani has got both domains down but until now has only made a career of one. Last week, however, the U-M researcher opened A2's very first Chaat House. Don't know what that is? Read on.

The Michigan Department Of Zingerman’s?

By Newsroom

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Community Development

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April 13, 2011

"Bureaucrat" and "customer service" are two words that seem incompatible and contradictory. Nevertheless, Governor Rick Snyder thinks Lansing employees could learn a thing or two from Zingerman's "service culture" training. Does that mean license renewal will include a complimentary bagel with cream cheese? One can dream, right? Excerpt: "The state of Michigan wants to raise its service game, and it is turning to entrepreneurial businesses for help. Zingerman's, an Ann Arbor–based deli and food company at which doing the right thing by customers is bred in the bone, has stepped up to train government employees in service culture. Michigan's new governor, Rick Snyder, posed the idea to Paul Saginaw, a co-founder of Zingerman's, when the two crossed paths at an awards dinner last winter. "I said, 'Are you serious?' " recalls Saginaw. "But I thought, Wouldn't it be great if the orientation of public servants was, My job is to be your resource. You are paying my salary. How do I help you get your business open?"" Read the rest of the story here. And a local follow up here.

Beer mag celebrates what ales Ann Arbor

By Newsroom

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Arts & Culture

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April 13, 2011

Maybe our little burgh will finally be known for something other than U-M and football. Which some may view as redundant. If we had to pick a virtue, beer seems as good as anything else. Excerpt: "While the area surrounding the University of Michigan campus has the usual mix of vintage stores and college bars, Ann Arbor does have a grown-up side: Picturesque streets encourage meandering through art galleries, coffee houses and upscale eateries. But this is the city Bob Seger croons about in “Mainstreet,” and since it is the Midwest, beer isn’t obscured by all the fancy." Read the rest of the story here.

OcuSciences to start clinical trials for ocular diagnostic technology

By Newsroom

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Education

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April 6, 2011

OcuSciences can almost see the finish line, and the end is commercialization for the Ann Arbor-based firm.The circa-2006 start-up is in the process of developing an ocular diagnostic technology for metabolomic diseases. In layman's terms, that technology allows doctors to diagnose patients with diseases like diabetes by scanning their eyes. The process has the potential to be more accurate and catch a diabetes diagnosis much earlier than traditional methods."We are making more and more improvements as we develop the product," says Matt Field, business manager for OcuSciences. His company has partnered with two pharmaceutical firms and a medical device company to further the development as it progresses through clinical trials. Commercialization could come as soon as 18-24 months.OcuSciences, a University of Michigan spin-out, grew from three people to eight, including three full-timers and a number of independent contractors. Field expects the staffing numbers to increase as the firm gets closer to commercialization."We could go from three people to 10 or 20 very quickly," Field says. "It depends on how the clinical trials go."Source: Matt Field, business manager for OcuSciencesWriter: Jon ZemkeRead more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

U-M Law Quadrangle to get $39 million refurbishing

By Newsroom

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Arts & Culture

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April 6, 2011

The stone-and-Gothic Law Quadrangle, an area of the University of Michigan campus that personifies the university's "Public Ivy" cachet, is now due for a $39 million recasting. At its meeting last month, the U-M Board of Regents approved upgrades to the Lawyers Club dormitory wing and the John P. Cook buildings. The Lawyers Club was erected in 1924 and the John P. Cook Building in 1931. Their makeover will be part of a larger expansion project at U-M's law school that also calls for a new academic building to rise on the corner of State and Monroe streets. Just over half the cost will be funded through a $20 million gift from U-M alum Charles T. Munger, vice chairman of Berkshire Hathaway Corp. The balance comes from investment proceeds and the Lawyers Club's own funds.The fixes in both buildings (with a combined total of about 159,000 square feet) will be largely mechanical. Plans call for new HVAC and fire detection and suppression systems, plumbing, and high-speed internet. In the Lawyer's Club, where approximately 260 students reside, separate "townhouse-style" entries to dorm rooms will be replaced with interior hallways and the club wing will get a new roof. The facilities' energy performance is expected to beat national energy efficiency standards by over 30 percent. The project designers will be Hartman-Cox Architects and SmithGroup. A schematic design is forthcoming.Source: University of Michigan Board of RegentsWriter: Tanya Muzumdar

RollingEdge strategy consultancy stabilizes clients

By Newsroom

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Diversity & Equity

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April 6, 2011

If experience is the best teacher, then it can also serve as a decent business model. That's how Rangarajan Tirumala's second business, Rolling Edge, got started.The techie and partner at InfoSoft hung on when the company recently went through a number of ups and downs thanks to the local and national economies. He and his partners steadied the tech firm, putting it on a profitable footing once again. Now Tirumala is turning that experience into a business consultancy based in downtown Ann Arbor.Rolling Edge provides software applications that help a business get its basics back under control. That includes work flow, supply chain management, and price analysis and simulation. The 5-year-old company's team of about half a dozen people also advises companies about when they should outsource and how to do it properly and within cost limits."I wanted to build a model that instills stability in an organization," Tirumala says. Rolling Edge focuses on small-to-medium-sized businesses and is based in Ann Arbor to avail itself to the area's vibrant ecosystem of tech firms. Tirumala is shooting for his company to hit $2 million in revenue within the next year and to add a few more people to his team in that time. He is looking for experienced candidates who have been through the ups and downs of the economy."If they have seen the ups and downs then they will bring an ocean of experience," Tirumala says.Source: Rangarajan Tirumala, owner & founder of Rolling EdgeWriter: Jon ZemkeRead more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Rudolf Steiner Lower School playground will be one with nature

By Newsroom

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Development News

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April 6, 2011

In the growing realm of eco-friendly re-dos, some things've had extensive airtime: LED lighting, LEED-certified construction, and whatnot. Now we're seeing the trend creep towards lesser-known turf – playground design. The Rudolf Steiner Lower School in Ann Arbor has a new master plan to renovate its playground, which sports the ubiquitous circa-1950s equipment and expanse of blacktop, into a natural playscape that will better handle water runoff.Rather than climbing grids or man-made objects, the play area will have logs and boulders, hills and valleys sculpted from the earth, and a natural amphitheater formed from a hill embedded with stumps and rocks, according to Katrina Klaphake, development director at the Rudolf Steiner School. The plan deletes half of the hardscape and replaces it with stepping stones and rain gardens to absorb water runoff from the roof. Students will also be able to use natural materials for building dams in a water play area to come in the form of a trough feeding into the rain garden."We're... managing more responsibly the water that comes off of our roof and any hardscape in the area and filtering that through rain gardens and also creating a really beautiful space for our kids to play in and interact with the natural world," she explains. A $3,000 grant from the James A. and Faith Knight foundation helped fund the master plan. And Washtenaw County has committed to awarding a grant for the rain gardens once the project has commenced, says Klaphake. Though the county has awarded grants for other commercial and residential rain gardens, Rudolf Steiner is the first educational institution to receive one.The school is in the process of raising the roughly $150,000 needed to complete the project. Installation should begin in summer 2012, Klaphake says.Source: Katrina Klaphake, development director at the Rudolf Steiner SchoolWriter: Tanya Muzumdar