Navigation Links
Michigan Pre-Seed Capital Fund Invests in Three More Michigan Start-Ups
Date:12/11/2008

ANN ARBOR, Mich., Dec. 11 /PRNewswire/ -- Three more Michigan start-up companies recently received investment commitments through the Michigan Pre-Seed Capital Fund: Arbor Photonics, Armune Bioscience and Aursos. To date, 28 Michigan companies have received a combined $6 million in critical seed funding through the Michigan Pre-Seed Capital Fund, a collaborative effort of Michigan's 12 SmartZones.

"The Michigan Pre-Seed Capital Fund has had consistent deal flow since its inception last year, highlighting the need for start-up funding in the state," said Skip Simms, Michigan Pre-Seed Capital Fund administrator. "Michigan's start-up economy is thriving and the Pre-Seed Capital Fund is an important catalyst in the success of the businesses choosing to call our state home. More than $6 million has been invested in Michigan's economic future through the Pre-Seed Fund."

Recent funding recipients are:

-- Arbor Photonics, sponsored by Ann Arbor SPARK, received $250,000. Arbor Photonics is developing a 3C optical fiber laser for the manufacturing sector, based on technology developed at the University of Michigan.

-- Armune Bioscience, sponsored by the Kalamazoo SmartZone, received $200,000. Armune's prostate cancer diagnostic test and prognostic test make significant advancements from current diagnostic and prognostic tests available on the market today. Armune is also developing a lung cancer diagnostic test and a lung cancer prognostic test.

-- Aursos, sponsored by the Kalamazoo SmartZone, received $200,000. Aursos specializes in parathyroid hormone (PTH) treatments for osteoporosis that increase bone formation and decrease bone degradation.

To date, 25 additional seed-stage companies have received funding through the Michigan Pre-Seed Capital Fund. Fund recipients are:

    -- XG Sciences, Inc., Lansing
    -- Phrixus Pharmaceuticals, Ann Arbor
    -- Hybra-Drive Systems, LLC, Deerfield
    -- ParkingCarma, Flint
    -- OTO Medicine, Ann Arbor
    -- Pixel Velocity, Inc., Ann Arbor
    -- SensiGen LLC, Ann Arbor
    -- EADevices, Inc., Kalamazoo
    -- MedElute, Inc., Kalamazoo
    -- Danotek Motion Technologies, LLC, Ann Arbor
    -- Saleztrack, Detroit
    -- Compendia Bioscience, Inc., Ann Arbor
    -- Avidimer Therapeutics, Inc., Ann Arbor
    -- RazorThreat, Royal Oak
    -- Functional Brands, Detroit
    -- JADI, Troy
    -- Venomix, Kalamazoo
    -- Accord BioMaterials, Ann Arbor
    -- Cielo MedSolutions, Ann Arbor
    -- Afid Therapeutics, Lansing
    -- ERT Systems, Ann Arbor
    -- Emiliem, Kalamazoo
    -- 3IS, Novi
    -- Fulcrum Composites, Midland
    -- Global Energy, Flint

To qualify for the Michigan Pre-Seed Capital Fund, a start-up company must have the sponsorship of its local SmartZone and have received grant, angel or venture capital funding greater or equal to funding requested of the Michigan Pre-Seed Capital Fund.

The Michigan Pre-Seed Capital Fund is an equity investment fund and will receive the same returns on its investment as the third party investor. The returns that the Michigan Pre-Seed Capital Fund receives from its investments will serve as seed money for the Fund's continuation.


'/>"/>
SOURCE Ann Arbor SPARK
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Mary Beth Bolton, MD, Named Woman Physician of the Year by Michigan State Medical Society
2. Michigan Governors Executive Order Budget Cuts Do Not Cut Payments to Medicaid Patients
3. University of Michigan, Blue Care Network Study Quantifies Health Care Savings of Regular Dental Care for Patients with Diabetes
4. MICHIGAN QUALITY COUNCIL (MQC) NAMES The Detroit Athletic Club 2008 STATE QUALITY AWARD RECIPIENT
5. Blue Cross Blue Shield of Michigan Answers Attorney General
6. Dental and Medical Communities Piloting Partnership in Mid-Michigan To Detect and Defeat Disease
7. Blue Cross Blue Shield of Michigan Calls for Attorney General to Support Stronger Regulation of Commercial Insurers; Protections for Consumers; and Financially Stable Insurance Market
8. Health Alliance Plans Medicare HMO is Top-Ranked Medicare Plan in Michigan and Top 25 in U.S.
9. Michigan Business & Professional Association Urges Legislature to Act Quickly on Individual Health Care Reform
10. Health Plan of Michigan Ranked Among Nations Best Medicaid Health Plans in 2008
11. The University of Michigan Welcomes Passage of Proposal 2
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... , ... First Choice Emergency Room , the largest network of independent ... Director of its new Mesquite-Samuell Farm facility. , “We are pleased to announce ... Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits of moderation, whether ... latter, setting the bar too high can result in disappointment, perhaps even self-loathing. However, ... their goal. , Research from PsychTests.com reveals that behind the tendency ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Marcy was in a crisis. Her son James, ... out at his family verbally and physically. , “When something upset him, he couldn’t control ... use it. He would throw rocks at my other children and say he was going ...
(Date:6/24/2016)... ... June 24, 2016 , ... Comfort Keepers® of San ... Society and the Road To Recovery® program to drive cancer patients to and from ... adults to ensure the highest quality of life and ongoing independence. Getting to ...
(Date:6/24/2016)... ... 24, 2016 , ... The Haute Beauty Network, affiliated with ... as a prominent plastic surgeon and the network’s newest partner. , Dr. ... handsome men, look naturally attractive. Plastic surgery should be invisible.” He stands by ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ ) ... Improvements Act of 1976, as amended ("HSR"), with respect ... Nasdaq: CPXX ) expired effective June 24, ... As previously announced on May 31, 2016, Jazz Pharmaceuticals ... which Jazz Pharmaceuticals has commenced a tender offer for ...
(Date:6/24/2016)... June 24, 2016  Global Blood Therapeutics, Inc. (GBT) ... developing novel therapeutics for the treatment of grievous ... the closing of its previously announced underwritten public ... the public offering price of $18.75 per share. ... offered by GBT. GBT estimates net proceeds from ...
(Date:6/24/2016)... 2016 Dehaier Medical Systems Ltd. (NASDAQ: ... markets and sells medical devices and wearable sleep respiratory ... strategic cooperation agreement with Hongyuan Supply Chain Management Co., ... June 20, 2016, to develop Dehaier,s new Internet medical ... Dehaier will leverage Hongyuan Supply Chain,s sales platform to ...
Breaking Medicine Technology: