The Valley of Death for potential biomedical breakthroughs isn't looking so scary these days thanks to the U-M Life Sciences Institute new Innovation Partnership. The new fund will help provide valuable start-up money to new firms so they can get their ideas from the research lab to the market place.
More venture capital money is landing in Ann Arbor. A trio of local VC firms are investing $1 million into Tree Town-based Accord Biomaterials latest innovation.
MichBio is looking to take the lead in the state's life sciences industry with its new MichBio Institute. The new institute will help focus the state's life sciences efforts in regards to education, training and research.
Research is a hotbed for business in Ann Arbor and NextGen Sciences is taking advantage of it. The drug research firm has been growing between 10 to 15 percent each year since its founding in 2001 and expects to create up to 15 jobs within the next year.
HandLab is not only doing more with less, it's making it the central cog of its business. The Ann Arbor firm specializing in miniaturizing experiments has become so successful at it that it expects to hire another 10 people this year.
Third time is definitely the charm for Ann Arbor's NanoBio. The UofM spin-off recently received its third installment of venture capital ($10 million) and it hopes to create more research jobs in the near future.
Threefold Sensors/IA Inc. has developed a test that can provide results in just six minutes, and is using a $400,000 loan from the state's Company Formation and Growth Fund to create eight jobs.
With a $200,000 loan from the state's Company Formation and Growth Fund in hand, Ann Arbor's Meditrina http://www.meditrina.com/Pharmaceuticals is poised to add four positions.
Pfizer, Inc., may have closed its doors, but the company continues to investment in Michigan's economy, most recently announcing that $6 million worth of research equipment will be available for life sciences start-ups.
Multi-national pharmaceutical company AstroZeneca has licensed a database created by Ann Arbor start-up Compendia Bioscience, Inc., created for cancer profiling.
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