One day back in 1992, someone telephoned Dr. Kelly Henrickson,
Associate Professor of Pediatrics and Microbiology at the Medical College of Wisconsin (MCW),
and offered to pay him $25,000 for 1 ml. of fluid with a mo......Full article >>>
minutes. But neither Henrickson nor the professional fund-raiser, whose services cost Henrickson $1500, was able to convince anyone to invest in the fledgling business.
"So I went to a bank," Henrickson said. "Banks will loan doctors money. They loaned me some money just on my name."
Henrickson used his bank loan to rent 1,300 feet of lab space and to buy some equipment. Orders p......Full article >>>
By the end of 2001 the company had grown to eight employees. "Things were going very well," Henrickson recalled.
Henrickson was proud that his company's flagship product, Hexaplex, could detect the seven most common lower respiratory viruses, including several varieties of influenza. But he believed that if he could invest more time and money in research and development, his employees co......Full article >>>
himself thinking. "Let's get some money in here."
Henrickson recalls that after partnering with TechStar, developing a professional business plan, and working with accountants to put together a set of financial projections, he was able to raise $1.5 million
in venture financing from angel investors very quickly.
<......Full article >>>
Source:wistechnology.com By Teresa Esser 09/01/04Related biology technology :1
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