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Michigan Life Science Network to Form Two New Virtual Companies
Date:10/9/2007

LANSING, Mich., Oct. 9 /PRNewswire/ -- The Michigan Life Science Network has announced today that it will launch two new companies designed to rapidly stimulate significant and measurable new life science business for Michigan companies.

The Michigan Virtual BioPharma Company, LLC and the Michigan Virtual Medical Device Company, LLC will launch at an exhibit on Tuesday, October 16, 2007, during the MichBio Expo annual convention in Lansing, Michigan. MichBio is the statewide trade association to drive life science industry growth in Michigan.

"These new LLCs will pull together the knowledge and qualifications of the 600 plus human life science companies scattered across the state and organize them into a functional cooperative full service pharmaceutical company and full service device company for the first time and then, market them across the nation and the world," said Michael Debiak, president of Michigan Life Science Network.

There are already several lists and regional directories that include some partial knowledge of these companies, but there is no single entry point to do business with Michigan's virtual company and there is little knowledge of or communications between these companies.

There is no comprehensive database organized by the product development process, or even a service to identify the right combination of Michigan companies that can help commercialize a compound or invention brought in from outside the state. Creating this database, structured as two new comprehensive companies will provide that service and give Michigan something new to market to the life science industry.

The companies will be created by using the latest tools and techniques revolutionizing every aspect of American and global life right now. Crowdsourcing. This is a "wiki" project where each member adds their knowledge and understanding of their part for the benefit of the whole. Using the wisdom of the disparate Michigan companies themselves, the process will quickly create unity, new value, and knowledge of each other.

At the exhibit, a very large graphical organization chart will represent each of the two companies. The chart is intended to be very visual and tactile to contribute to the overall understanding of the project. The goal will be to see how quickly all the state's life science companies can fill in who has each kind of expertise in the blank boxes. Each box is the size of a business card. Attendees at the Expo and afterward on an on-going basis will be invited to add their cards under the function they can provide in making up the whole company.

The Virtual Companies Project is sponsored by the members of the Network themselves and the financial and professional support of Kreis, Enderle, Callander & Hudgins, PC, TCF Bank, Grubb & Ellis|Paramount Commerce, and Comerica Bank.

"The creation of these two Virtual Companies is just the start for what needs to be done to stimulate life science business in Michigan. The Michigan Life Science Network is developing many of the next step initiatives to bring new business into these individual companies by marketing the larger virtual organization," said Debiak.

The Virtual Company Launch Party will be held October 16 from 7 to 10 p.m. at the Tavern on the Square in Downtown Lansing. All are welcome.

For more information about the Michigan Life Science Network or the launch of the Virtual Companies, please contact:

Michael Debiak

President

Michigan Life Science Network

mike@milifesciencenetwork.com

269-353-1575

Offices in Ann Arbor, Kalamazoo, and TechTown Detroit

The Michigan Life Science Network, LLC was founded in early 2007 as a private enterprise business cooperative to stimulate new, better and more business for all life science businesses in Michigan. Using advanced communications, marketing/sales technology and techniques, the Michigan Life Science Network will bring in new business as a service to the 600 plus individual business members in the state. The Network is unique in that members pay no membership fee and do not need to apply to participate. The Network is driven by urgency and the rules of market place forces, and measured in creating new value, revenue and margin for members.


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SOURCE The Michigan Life Science Network
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