Biotechnology

Ann Arbor startups score big wins at Accelerate Michigan

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November 11, 2015

When Steve Schwartz went up to collect the ceremonial $100,000 check for taking second place at the Accelerate Michigan Innovation Competition last week, he was surprised but not shocked. The CTO of Genomenon didn’t expect to win big, but he knew the Ann Arbor-based startup’s team has a lot of potential when it comes to the fight against cancer. "We all know someone in our lives who has been impacted by cancer," Schwartz says. "We're all passionate about it." Genomenon is a life sciences company developing a technology platform focused on personalized medicine with simplified genome interpretation software. The University of Michigan spinout's platform tackles the challenges of analyzing DNA sequencing data, including gathering, organizing and interpreting the results. This is process is called tertiary analysis and typically requires extensive manual review that can be frustratingly inefficient and error-prone. Genomenon’s software accelerates tertiary analysis so it can treat patients and publish findings faster. The 1-year-old startup’s team of seven has built out the product and has begun introducing it to its first paying customers. A larger product roll-out is planned for next year. "We are now in the process of raising a seed round," Schwartz says. "This (the Accelerate Michigan win for $100,000) is a nice little bump for our seed round." Five other Ann Arbor-based startups, all of which receive help from Ann Arbor SPARK, also walked away from Accelerate Michigan with $25,000 in prize money. Those include Akervall Technologies (winning the advanced materials category), Arborlight (alternative energy), FlexDex (medical device), Workit Health (IT), and PicoSpray (Advanced manufacturing). Accelerate Michigan is Michigan's biggest business plan competition. It awards more than $1 million in prizes each year. Ann Arbor-based startups normally dominate the winners circle each year. Source: Steve Schwartz, CTO of Genomenon Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Latest in Biotechnology

HistoSonics raises $3.5M as it pushes clinical trails forward

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Innovation News

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August 19, 2015

HistoSonics has closed on seven figures worth of seed capital over the last year as the Ann Arbor-based startup pushes forward the clinical trails of its biotechnology that treats prostate disease. The 5-year-old company raised an $11 million Series A in 2009 and is in the process of raising a Series B. It raised $3.5 million in a couple of interim fundraising rounds over the last year as it preps to land an even bigger Series B. "We're looking to do a much larger round next year," says Christine Gibbons, president & CEO of HistoSonics. "We're thinking the first quarter of 2016." The University of Michigan spinout got its name by combining histo (meaning tissue) and sonics (meaning sound waves). The firm’s primary platform is a medical device that uses tightly focused ultrasound pulses to treat prostate disease in a non-invasive manner with robotic precision. HistoSonics and its team of 15 people (four more than last year) is currently in the midst of its clinical trails, which it has completed enrollment in. It plans to expand that clinical trail in the next year and wrap it up by 2016. HistoSonics is also looking to add more applications for its platform over the next year, which it is looking for partners in the medical device world. "This next round of financing we are looking for strategic partners and investors," Gibbons says.

Ocunelis doubles sales of eye-drop tech since last year’s launch

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Innovation News

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June 24, 2015

Ocunelis hit a significant milestone earlier this month when it sold its 400th DROPin, the company's signature eye-drop assist technology. That milestone comes on the heals of the Ann Arbor-based bio-tech startup doubling its sales a little more than one year after launching the business. Ocunelis's DROPin products can be found in a few retailers across Metro Detroit, but the company is aiming for bigger gains elsewhere. "Our primary sales are through Amazon," says David Lorch, CTO of Ocunelis. "We are selling in almost every state through Amazon." Lorch and Marius Tijunelis came up with the idea to start Ocunelis while they were working through an entrepreneurial apprenticeship out of the Medical Innovation Center at the University of Michigan's Kellogg Eye Center. They saw eye drop application as a pain point in everyday medicine and came up with a easier, pain-free, eye-drop assist technology called DROPin. They have since been working to expand sales and create a few partnerships to further expand the use of DROPin. The team is also working on a couple of new products it hopes to release relatively soon. "I would assume that by 2016 we will be releasing new products," Lorch says. Source: David Lorch, CTO of Ocunelis Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Blaze Medical Devices earns first revenues, new investment and hires up next

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Economic Development

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May 20, 2015

Blaze Medical Device accomplished a big milestone many other bio-tech startups never even get close to. "For the first time we are generating revenues," says David Weaver, CEO of Blaze Medical Devices. The Ann Arbor-based startup made its first sale of its blood analysis services earlier this year. Blaze Medical Devices' platform enables medical researchers and product developers to better understand blood damage from all causes. "They didn't want to wait," Weaver says. "It has a huge upside for us. It shows that the market is real." Blaze Medical Devices is now working on adding more clients by the end of the year. The 9-year-old firm is also in the midst of raising a $2 million angel found. Late last year it landed a $200,000 SBIR grant and has since landed more angel investor capital. So far the company has raised $1.3 million toward its $2 million goal, which it expects to close on by the end of the year. Blaze Medical Devices employs a staff of six employees and is looking to add some summer interns. It has hired one lab technician earlier this year. Weaver expects his staff to continue to grow as it generates more revenues and closes out on its angel round. Source: David Weaver, CEO of Blaze Medical Devices Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Lavin Lift Strap targets commercial medical facilities for growth

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Healthy Communities

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May 13, 2015

Lavin Lift Strap has made a name for itself by selling a product that makes home healthcare easier for caregivers and family members. Now the downtown Ypsilanti-based firm is aiming for much more rapid growth by targeting bulk sales to acute healthcare providers, big commercial players in the healthcare industry (think hospitals, nursing homes and other large institutions). "It (our orders) will significantly increase," says Manuel Lavin, president of Lavin Lift Strap. "The home healthcare market is a onsey and twosey. With acute healthcare you're talking boxes, pallets." The 5-year-old firm got its start when Lavin and his wife, Donna Gilkey-Lavin, had to find a way to help take care of his father who was suffering from Alzheimer's disease and obesity. They created a strap and pulley system that made it easy for one person to lift and clean the patient where previously it took multiple people. The technology acts as a mini crane that helps raise the patient's legs or entire lower half off the bed. The family turned the invention into a product and began selling it to people and companies specializing in elder care through word-of-mouth and the firm's website. It leveraged Ann Arbor SPARK's services to further commercialize the product and set up its first office in the SPARK East Business Incubator in downtown Ypsilanti. Lavin Lift Strap now has three patents and another one pending on its products. It is also planning to file a few more patents later this year. The company has hired a few sales pros to expand its team to 13 people and sales of the Lift Strap are up 25 percent over the last year. The company expects those sales figures to spike over the next year as it starts to fill some large orders. ? "It's a tough slog," Gilkey-Lavin says. "Hospitals are not as quick to adapt to new technology as you would think. It can take years." Source: Manuel Lavin, president of Lavin Lift Strap; and Donna Gilkey-Lavin, vice president of sales & marketing for Lavin Lift Strap Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Arbor Assays scores with 40 percent revenue growth, adds staff

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Innovation News

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May 6, 2015

Russ Hart has been so success at growing a business making assay kits he decided to do it again. Hart and his partners grew Assay Designs in Ann Arbor to the point it got so big it wasn’t fun for them to run it anymore. They exited it in 2007 and launched another, similar firm later that year, Arbor Assays. "We just like doing what we do," says Hart, partner with Arbor Assays. "It's an opportunity do the things we enjoy and make money while doing it." The 8-year-old firm is doing well researching and developing high quality assay kits. It has gone from three co-founders to a staff of 11 people, including two hires (sales & marketing, and manufacturing positions) over the last year. Those staff additions are justified by 35-40 percent revenue growth each year since Arbor Assays' founding. "We sell to a whole bunch of different industries," Hart says. "We sell to pharmaceutical companies and bio-tech companies and academic institutions." Arbor Assays has grown 40 percent in the last month alone, and expects to do it again each month for the foreseeable future. "The month before we did slightly better than that," Hart says. "Each month is better than the last one." Source: Russ Hart, partner with Arbor Assays Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Backyard Brains looks to double revenue with national marketing

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Innovation News

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May 6, 2015

Backyard Brains has been chugging along for years, making a nice little business out of neuroscience testing kits with cockroaches. After five years it has hit $500,000 in revenue, but has its sights set on a much bigger number. "We want that to increase to $1 million," says Tim Marzullo, co-founder & chief science officer of Backyard Brains. The Ann Arbor-based company is getting ready to embark on a national marketing campaign to close that gap. Marzullo likes to say that when he or members of his sales team show off the company's insect neuroscience kits for grade-school education products, like the RoboRoach, they become instantly popular with teachers and students to the point orders are placed on the spot. "It shocks us when we go to a neuroscience conference and people haven't heard of us," Marzullo says. Which is a bit surprising because Backyard Brains is an international firm with a growing office in Chile. It has made five hires over the last year and now employs a team of about a dozen people. Marzullo hopes that team will be able to really make a name for itself this year. "We want to expand beyond word of mouth," Marzullo says. "We're selling every day but not the numbers we need to be selling." Source: Tim Marzullo, co-founder & chief science officer of Backyard Brains Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

BBC Entrepreneurial Training & Consulting expands to 29 states

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Economic Development

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December 10, 2014

BBC Entrepreneurial Training & Consulting isn't known as a company that is big on hiring. The life sciences consulting firm hasn't hired or fired anyone over the last year, and doesn't plan to in the near future. It just stays steady at seven employees. In fact, when it moved to a new office last summer it went to a smaller space. "That building was bigger than what we needed all along so we sold it," says Lisa Kurek, managing partner of BBC Entrepreneurial Training & Consulting. What it is doing is growing its footprint. The Ann Arbor-based firm is now doing work in 29 states, up about five from its mark last year. That means it is helping life sciences startups snare non-dilutive government funding to develop their technologies. Kurek hopes to expand the firm's reputation and prowess even more in 2015. "I'd like to see us in 39 states next year," Kurek says. BBC Entrepreneurial Training & Consulting has built up a steadfast reputation as one of a boutique consulting firm with a deep expertise in helping startups capture six figures or more in government research funding. If you’re a region looking to build a life sciences startup scene, you want a BBC Entrepreneurial Training & Consulting in your backyard, or for it at least to have a presence there. More and more states are coming around to that idea, bringing BBC Entrepreneurial Training & Consulting into their regions. "We're in a very niche area of expertise," Kurek says. "It (the firm's growth) is a combination of referrals and presence at national conferences. Our web and social media presence helps, too." Source: Lisa Kurek, managing partner of BBC Entrepreneurial Training & Consulting Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Blaze Medical Devices adds staff, scores $200K SBIR grant

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Innovation News

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December 3, 2014

Blaze Medical Devices recently scored a nice boost in funding, adding a Small Business Innovation Research grant to its bottom line. The Phase 1 SBIR grant is worth $200,000 and will be used to pay for a pre-clinical study of 50 patients. The company hopes to go for a Phase 2 grant worth $175,000 next year. Blaze Medical Devices is developing blood transfusion technology that enables medical professionals to better control and optimize blood banking and transfusions. Its clinical tests assess the quality of stored blood and its laboratory instruments help facilitate blood research. "We anticipate to get our first revenue from this service before the end of the year," says Michael Tarasev, COO of Blaze Medical Devices. Blaze Medical Devices currently employs a staff of five people after adding a researcher over the last year. The company hopes to keep expanding its team as it generates its first revenues next year and pushes its core technology closer to commercialization. Source: Michael Tarasev, COO of Blaze Medical Devices Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

OcuSciences enlists Adams Fellow to grow startup

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Innovation News

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October 22, 2014

OcuSciences hired two people over the last year, expanding the bio-tech startup’s staff to five. One of those hires was a new CTO (coming Accuri Cytometers) and another is from the Adams Entrepreneur Fellowship program. The Automation Alley-managed program pairs recent college graduates with locally based startups. The idea is to get more talented young people involved in the local entrepreneurial ecosystem. Erich Heise joins OcuSciences as its business manager, specializing in business development. "It's a chance for Erich to get his feet wet in a company," says Kurt Riegger, COO of OcuSciences. "OcuSciences is doing a lot of business development and Erich has a chance to do a lot of it." OcuSciences spun out of the University of Michigan six years ago developing a new way to diagnose diseases like diabetes with eye scans. Its ocular diagnostic technology for metabolomic diseases that allows doctors to diagnose patients earlier and with higher accuracy. It's the type of new technology in an emerging area that attracted Heise back to Ann Arbor after he graduated from Case Western University. "Ann Arbor is really an area of opportunity when it comes to entrepreneurship," Heise says. "Most people run to the coasts but I think this area is really blossoming." OcuSciences’ technology is being used in two clinical centers, and the startup is working to bring two more online in the coming months. "The need is high," Riegger says. "The challenge is can we get ahead of the need?" Source: Kurt Riegger, COO of OcuSciences Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.