Investment

HealthMedia becomes part of Johnson & Johnson, plans to stay in Ann Arbor

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October 29, 2008

It's gone but it's staying. That's the situation with HealthMedia. Gone is the old private company. Staying is the Ann Arbor-based firm that is now a subsidiary of Johnson & Johnson.The corporate behemoth acquired Health Media Monday for an undisclosed amount to create a wellness and prevention business platform. HealthMedia and its 140 employees (most of which are stakeholders in the firm) expect to stay and grow in Ann Arbor for the foreseeable future."We think this is an important space for HealthMedia," says Susan Odenthal, a spokeswoman for Johnson & Johnson. "We expect it will continue to grow as it has grown in the past."The company, born from 30-plus years of behavioral science research at the University of Michigan, has grown to 140 employees. It has added 10 in the last few months alone. Of those more than 100 of them are based out of Tree Town. HealthMedia helps health plan providers save time and money using scalable behavior change interventions through the Internet. The firm uses its technology and behavioral science to deliver individually tailored behavior change suggestions and programs. The net result has been increased medical compliance and productivity while reducing medical utilization, which, of course, increases profitability for health plans and employers. Johnson & Johnson has been a client of HealthMedia for years before the acquisition. Source: Susan Odenthal, spokeswoman for Johnson & Johnson and Caren Kenney, a spokeswoman for HealthMediaWriter: Jon Zemke

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Avidimer Therapeutics initiates clinical trails, plans to round out staff

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Economic Development

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October 29, 2008

Avidimer Therapeutics is working on some promising new technology, promising enough to illicit a recent $2.4 million investment from 21st Century Jobs Fund. That investment is expected to help pay for more clinical trails for the pharmaceutical company as it aims to commercializes its first product in 2014-15. The 3-year-old company employs about five people today along with another half a dozen independent contractors.Those numbers are expected to grow as the firm conducts more clinical trails. Eight new jobs are expected to be created by the $2.4 million investment and accompanying $5 million in matching funds."We're looking at adding several more people to round out our management team and clinical staff within the next year or so," says David Repp, vice president of business operations for Avidimer Therapeutics.Avidimer Therapeutics lead product is a compound that targets diseases while minimizing collateral damage to healthy tissues. Two of the biggest diseases it's looking at targeting are rheumatoid arthritis and cancer. The Ann Arbor-based firm has already done the pre-clinical trail work for the cancer aspect and plans to do so with the rheumatoid arthritis soon. A previous 21st Century Jobs Fund grant of $2.25 million helped pay for the pre-clinical work for the cancer aspect of the compound.Source: David Repp, vice president of business operations for Avidimer TherapeuticsWriter: Jon Zemke

Saline Lectronics invests $1.1 million in equipment to target two new sectors

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Economic Development

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October 22, 2008

Saline Lectronics is growing, and growing, and growing and growing… Excerpt: Boosted by the weak dollar and manufacturers' need to get complex electrical parts quickly, Saline Lectronics has invested $1.1 million in new manufacturing equipment to accelerate its movement into two new sectors. Saline Lectronics received a tax abatement from the city of Saline to install new technology designed to "continue quality improvement," said CEO Mario Sciberras. Sciberras said the new technology would allow his company to more efficiently target the aerospace and medical industries. The 80-person contract manufacturer specializes in producing customized electrical circuit boards. Sciberras has said his company is benefiting from the weak dollar and clients' reluctance to request overseas orders that take weeks to arrive. The new investment will require the addition of about a dozen workers, Sciberras said. "It is specifically to continue to help us be perfect in our manufacturing. What this new line does is count all the material as you're manufacturing and tracks for quantity, so it knows exactly what's been put on the board in assembly," he said. "It provides real-time production feedback." Read the rest of the story here and another one about the Saline-based firm here.

Meditrina Pharmaceuticals to use 21st Century grant to start clinical trails

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Economic Development

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October 22, 2008

Well, Meditrina Pharmaceuticals has the funding down today so it can get ready to do the clinical testing tomorrow.The Ann Arbor-based firm recently received a $2.6 million grant from Michigan's 21st Century Jobs Fund that will accompany $12.325 million more in matching funds. All of that money will help create 243 jobs over time as the company prepares its main product for a second clinical test.Meditrina Pharmaceuticals specializes in repurposing drugs for specific women's health issues. The company plans to start the second clinical trail early next year and begin commercializing it in 2012 at the earliest. The company has grown consistently in its short lifespan. It went from its two founders (Thomas A Collet and Holly Vene) in 2006 to eight employees and about a dozen contractors today. Meditrina's bread and butter is an aromatase inhibitor in combination with estrogen and progestin for the treatment of endometriosis. Repurposing the drug would allow it to lower estrogen levels in younger women so it can be used to help treat maladies like endometriosis and uterine fibroids.Source: Thomas A Collet, president, CEO and co-founder of Meditrina PharmaceuticalsWriter: Jon Zemke

Eleven Ann Arbor companies to create 845 high-tech jobs

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Economic Development

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October 15, 2008

Ann Arbor is one of the main players transforming Michigan's economy from brawn-based to brain-based and it's no more evident that in last week's job creation announcement from the Michigan Economic Development Corporation. Ann Arbor-based companies received millions of dollars in tax incentives to invest millions more into expanding their businesses and creating local jobs. The bottom line equals 845 new high-tech jobs and more than $52 million in investments.The list of growing companies include:Accuri Cytometers – 88 new jobs, $13 million investmentSolidica – 12 new jobs, $1 million investmentNeuroNexus Technologies – 7 new jobs, $1 million investmentCompendia Bioscience – 20 new jobs, $1.25 million investmentNephrion – 200 new jobs, $2 million investmentCielo MedSolutions – 70 new jobs, $1.875 million investmentMeditrina Pharmaceuticals – 243 new jobs, $12.325 million investmentAvidimer Therapeutics – 8 new jobs, $5 million investmentArbor Photonics – 136 new jobs, $1.515 million investmentNanocerox – 25 new jobs, $1.057 million investmentPixel Velocity – 36 new jobs, $2 million investmentAll in another day of doing business in Ann Arbor.Source: Michigan Economic Development CorporationWriter: Jon Zemke

NetEnrich to open Ann Arbor-area office, create 225 jobs

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Economic Development

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October 15, 2008

More IT R&D is coming to A2, thanks in part to incentives from the MEDC. Confused yet? Don't worry, the bottom line is another 225 jobs for Ann Arbor.NetEnrich plans to open an office in Ann Arbor by the end of the month and hire 225 people within 10 years. Of those, 40-50 people will be brought in within one year."The number one reason we choose Ann Arbor was people," says Raju Chekuri, president & CEO of NetEnrich. "Ann Arbor has a lot of technical folks who understand what we do for a living."Another big factor in the decision is a $3.9 million tax credit from the Michigan Economic Development Corp. That money, which will be spread out over 10 years, played a significant role in luring NetEnrich to Michigan over states like Florida and South Carolina.The California-based IT company will invest $2.7 million in a new R&D and Network Operations Center. A specific space for the NetEnrich office hasn’t been decided yet, however, Ann Arbor SPARK is helping them choose a location."In a week's time, we'll have it nailed down," Chekuri says.Source: Raju Chekuri, president & CEO of NetEnrichWriter: Jon Zemke

New Toyota Technical Center hosts grand opening Thursday

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Development News

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October 8, 2008

You know the work is done when the grand opening banners are rolled out, and that's just the case with Toyota's new technical center in York Township.The auto-manufacturer plans to hold a grand opening tomorrow in it's brand-spanking new nearly $200-million facility. Officials expect the 700-acre campus and its 530,000 square feet of space to house as many as 1,100 workers by 2010. These employees will specialize in engineering design and vehicle performance development.The new state-of-the-art research and development center will house 350,000 square feet for design engineering and 180,000 square feet for safety testing. It will located just south of Ann Arbor near the intersection of U.S. 23 and Willis Road.Toyota has traditionally done its engineering for its North American products out of Ann Arbor since the 1970s. Hundreds of engineers, scientists and other personnel work for Toyota at one of its now three locations around Ann Arbor.Source: Toyota and state of MichiganWriter: Jon Zemke

A2 Media Corporation set to create 63 new jobs

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Economic Development

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October 8, 2008

It's a simple equation: More software development in Ann Arbor means more job development in Tree Town. Now that A2 Media Corporation (aka Icon Creative Technologies Group) is expanding its presence in Ann Arbor, the 18-person company expects to create 63 new jobs within the next 10 years. It's going to do that by investing nearly $2.7 million to relocate and expands its Ann Arbor facility. "A great deal of it will be invested in talent," says Sara Johns, project director for A2 Media Corporation.A2 Media Corporation develops enterprise-level software that allows marketing and communications professionals in the auto, biotech and financial services sector to manage their digital activities. The state of Michigan awarded A2 Media Corporation a $1.26 million tax credit, per the recommendation of the Michigan Economic Development Corporation. The incentive will be spaced out over 10 years, and is believed to be a key part of A2 Media Corporation choosing Ann Arbor over competing sites in India and Ireland. The company's principals are long-time Ann Arbor-area residents.Source: Sara Johns, project director for A2 Media Corporation and Michigan Economic Development CorporationWriter: Jon Zemke

Mongolian BBQ, salon, bakery set up shop in Ypsilanti

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Community Development

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October 8, 2008

The kitchen for downtown Ypsilanti's new Mongolian BBQ has been installed, and is yet another sign of how businesses are flocking to the city's downtown and Depot Town districts.J Neil's Mongolian Grille will occupy most of the ground floor of the Kresge Building, one of downtown's first loft conversions. That restaurant is set to open by the end of the month."We're very excited about it," says Eric Maurer, an Ypsilanti developer in charge of the building.The Keystone Martini Bar, which will occupy the basement of 200 W Michigan Ave., is set to open up later this year. Maurer is also rehabbing the Mack & Mack building in downtown, which will house Ann Arbor SPARK's East Incubator for small business. That space is expected to be done by the end of the year with lofts above it finished by next summer.Also joining this retail round up is the Thomas Blondi Salon on 36 N Huron St. It will occupy the ground floor of an old 19th Century hotel that most recently served as the home to a dance studio. Dwight Thomas, the salon's owner, expects to have the 1,800 square feet ready to go by the first week of November. "I wanted to be in the heart of Ypsilanti," Thomas says. "I wanted to give back to Ypsilanti, which is where I grew up."Next door the Old World Bakery is also holding its ribbon-cutting ceremony on Friday morning. The bakery moved into the space earlier this year to take advantage of the up-and-coming business district dominated by small businesses in downtown.Source: Eric Maurer, co-owner of Mauerer Management and Dwight Thomas, owner of Thomas Blondi SalonWriter: Jon Zemke

Ann Arbor’s 3.7 Designs creates websites and jobs

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Economic Development

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September 24, 2008

Talk to the people behind 3.7 Designs and they'll tell you they don't just build websites. They create the website, strategize how to attract visitors to the website and troubleshoot any problems that arise on the website.The downtown Ann Arbor-based firm recently created sites for the city of Howell's street improvement program as well as ArborVitae, which deals with pregnancy problems. 3.7 Designs focused not only on their creation but also their accessibility to potential users."We want to work with people to have successful websites," says Ross Johnson, CEO of 3.7 Designs.Johnson started 3.7 Designs in 2004 as a part-time freelancer and made it his full-time job in 2005. Today the firm employs three people and is looking to hire another web developer or two within the year."It's really more about finding the right person, not just any person," Johnson says.Johnson hopes to do that by attracting bigger clients. The firm got its start creating start-up webpages and the like. It has now moved onto smaller organizations, but would like to take on even bigger ones in the near future."It's been really busy," Johnson says.Source: Ross Johnson, CEO of 3.7 DesignsWriter: Jon Zemke