Lycera has taken a significant step forward in commercializing an oral drug to treat autoimmune disorders. The Plymouth, MI-based pharmaceutical startup, a spinoff from the University of Michigan, recently released results from a study that suggested its compound can selectively silence diseased white blood cells while leaving healthy ones intact. The results were published in … Continue reading “Lycera Plows Ahead With Drugs To Treat Autoimmune Disorders”
Author: Thomas Lee
Thomas Lee came to Xconomy from Internet news startup MedCityNews.com, where he launched its Minnesota Bureau. He previously spent six years as a business reporter with the Star Tribune in Minneapolis. Lee has also written for the St. Louis Post-Dispatch, Seattle Times, and China Daily USA. He has been recognized several times for his work, including the National Press Foundation Fellowship on Alzheimer's disease, the East West Center's Jefferson Fellowship, and the MIT Knight Center Kavli Science Journalism Fellowship on Nanotechnology. Lee is also a former Minnesota chapter president for the Asian American Journalists Association and a former board member with Mu Performing Arts in Minneapolis.
Get Set for Michigan 2031: Xconomy’s First Detroit Event to Examine State’s Innovation Landscape 20 Years Ahead
Michigan may be many things, but lazy isn’t one of them. A prominent investor told me the other week that the state boasts an incredible work ethic, one that rivals the frenetic pace of Silicon Valley. Given the automobile industry’s long decline, the state has made several bets on its economic future: clean energy and … Continue reading “Get Set for Michigan 2031: Xconomy’s First Detroit Event to Examine State’s Innovation Landscape 20 Years Ahead”
USPTO launches hiring hotline
The United States Patent and Trademark Office says applicants interested in the 100 job openings at its new regional office in Detroit can e-mail [email protected] for more information. The office will officially open this year.
Resonant Ventures Bets on Wind Power Startup Accio Energy
Resonant Venture Partners in Ann Arbor, MI, said it has invested an undisclosed amount in Accio Energy, a startup developing a new way to generate electricity from wind. The startup, which is also based in Ann Arbor, is “developing a novel…wind energy generation technology to deliver clean, sustainable energy to people around the globe,” Resonant … Continue reading “Resonant Ventures Bets on Wind Power Startup Accio Energy”
“Your Move, Creep.” Detroit Should Embrace Its Inner RoboCop
When I first saw RoboCop in 1987, I nearly puked. In other words, the movie was AWESOME. Such logic should be expected from a nine-year-old boy witnessing his first R-rated movie, an ultra-violent spectacle that spewed blood and bodies across the crime ridden streets of Detroit. (My older sister, who accompanied me, was just plain … Continue reading ““Your Move, Creep.” Detroit Should Embrace Its Inner RoboCop”
Snyder’s First Michigan Budget: One (Tax) Rate to Rule Them All
[Corrected 2/18/10, 10:04 am.] When Rick Snyder emerged victorious in last year’s gubernatorial election, Michigan’s entrepreneurial community buzzed with excitement. Snyder, a former corporate executive and venture capitalist based in Ann Arbor, MI, had the business smarts to revitalize the state’s sluggish economy, supporters said. The first test of Snyder’s leadership would be crafting a … Continue reading “Snyder’s First Michigan Budget: One (Tax) Rate to Rule Them All”
Michigan’s Angel Investment Tax Credit: Take Two
Let’s do this again. This week, Michigan rolled out Angel 2.0, a three-year, $27 million effort to encourage wealthy individuals to fund promising high startups in the state. “This is a huge deal,” says Paul Brown, vice president of capital markets for the Michigan Economic Development Corp. who’s supervising the program. “Angels had been advocating … Continue reading “Michigan’s Angel Investment Tax Credit: Take Two”
Accuri Generates Windfall for Plymouth Ventures, But Not University of Michigan
Plymouth Ventures Partners stands to cash out big from Becton, Dickinson’s (NYSE:[[ticker:BDX]]) pending acquisition of Accuri Cytometers in Ann Arbor, MI. But the University of Michigan, where the technology originated? Uh…not so much. Plymouth was one of Accuri’s first investors when the company spun out of the university in 2005, providing around $2 million in … Continue reading “Accuri Generates Windfall for Plymouth Ventures, But Not University of Michigan”
U-M adds more tenants to Venture Accelerator
The University of Michigan has officially inked deals to house two more startups at its Venture Accelerator in Ann Arbor, MI. Engxt and Civionics will join inaugural tenant Life Magnetics at the former Pfizer research and development center located at the school’s North Campus Research Complex. Two additional firms, 3D Biomatrix and Phraxis Pharmaceuticals, are … Continue reading “U-M adds more tenants to Venture Accelerator”
How About a Little Air Bag Chat? Ford Seeks to Make Cars That Talk to Each Other
Drivers today like to gab and text on their phones while they are on the move. So I guess it makes sense that their cars should also talk to one another. But unlike distracted drivers, Ford hopes vehicle-to-vehicle communication will prevent accidents, not cause them. Ford, based in Dearborn, MI, is accelerating research into “intelligent” … Continue reading “How About a Little Air Bag Chat? Ford Seeks to Make Cars That Talk to Each Other”
Arboretum Ventures in Ann Arbor Seeks Greener Pastures With New $125M Fund
Arboretum Ventures is gonna need a bigger garden. The early stage investment firm, based in Ann Arbor, MI, plans to raise a new $125 million fund, its third in so many years, according to SEC documents. The company previously pulled together $73 million and $24 million for its first two funds. Arboretum, which specializes in … Continue reading “Arboretum Ventures in Ann Arbor Seeks Greener Pastures With New $125M Fund”
Ann Arbor redux: Becton Dickinson and Co. buys medtech startup Accuri Cytometers
Treja-vu! Becton, Dickinson and Company (NYSE:[[ticker:BDX]]) announced Monday it will acquire Accuri Cytometers in Ann Arbor, MI, for an undisclosed amount. Accuri, which makes devices that can count cells and chromosomes, is led by Jeff Williams and backed by Arborteum Ventures in Ann Arbor. If this trio sounds familiar, it should. HandyLabs, another Ann Arbor-bred … Continue reading “Ann Arbor redux: Becton Dickinson and Co. buys medtech startup Accuri Cytometers”
MC3, With Six Spinout Companies, Navigates Challenging Terrain of Medical Device Incubators
Medical device incubators are like low-carb donuts. They sound like a good idea on paper, but no one has really been able to create a successful one. Scott Merz is certainly trying. Since 2000, MC3 in Ann Arbor, MI, the accelerator Merz co-founded and currently leads, has spun off six companies, all of them still … Continue reading “MC3, With Six Spinout Companies, Navigates Challenging Terrain of Medical Device Incubators”
Jeff Bocan is Not Crazy: Beringea’s Ex-Californian Seeks Gold Rush in Michigan
More than a few people thought Jeff Bocan was crazy when he left the sunny beaches of San Monica, CA two years ago for the snow-clogged driveways of Ann Arbor, MI. Beringea, the Detroit-based private equity and venture capital firm, wanted Bocan to move to Michigan to help find and finance promising local startups. Bocan … Continue reading “Jeff Bocan is Not Crazy: Beringea’s Ex-Californian Seeks Gold Rush in Michigan”
Boston Scientific Wants to be a Rock Star. But First, It Needs Some Stars.
Boston Scientific (NYSE:[[ticker:BSX]]) has been talking the talk of late. But its walk the past few years can be best described as a limp. There’s no mistaking the company’s new-found bravado as CEO Ray Elliott, who succeeded Jim Tobin in 2009, attempts to infuse the company with some of the energy that made his previous … Continue reading “Boston Scientific Wants to be a Rock Star. But First, It Needs Some Stars.”
MSU Spinoff Wants to Zap Battlefield Explosives with Smart Lasers
Improvised explosive devices (IED) have been the scourge of the U.S. military in war zones like Iraq and Afghanistan. The Pentagon has spent billions of dollars on high tech tools in order to defeat such frustratingly low tech weapons. East Lansing, MI-based BioPhotonic Solutions wants to add one more tool to the kit. The startup’s … Continue reading “MSU Spinoff Wants to Zap Battlefield Explosives with Smart Lasers”
Uncle Sam Hearts Drugs, Not Devices. Why?
WTF! You can forgive medical device investors and CEOs if they’ve uttered that not-so-family-friendly acronym during the last year or so. First, the Food and Drug Administration signals it will likely tighten restrictions on the popular 510(k) regulatory program, which allows device makers to quickly develop new products that are slightly better or different than … Continue reading “Uncle Sam Hearts Drugs, Not Devices. Why?”
Google to Michigan: Help Wanted
Google’s hiring binge is coming to Michigan. The Internet search giant recently said it will add over 6,000 employees to its global workforce, which includes its offices in Ann Arbor, MI and Birmingham, MI, according to the Detroit News. A quick search of local job openings includes positions for advertising sales, operations, and account management. … Continue reading “Google to Michigan: Help Wanted”
Beyond the Big Three: A Tough Love Search for Detroit’s Future
“Many people watching tonight can probably remember a time when finding a good job meant showing up at a nearby factory or a business downtown,” President Obama said during his State of the Union address last night. “You didn’t always need a degree, and your competition was pretty much limited to your neighbors.” “If you … Continue reading “Beyond the Big Three: A Tough Love Search for Detroit’s Future”
GPX Software Nets $250k
GPX Software has raised $250,000 from the sale of equity, according to documents recently filed with the Securities and Exchange Commission. Overall, the company, based in Ann Arbor, MI, is seeking $500,000, the documents say. Incorporated in 2009, the startup is developing Internet-based software that can help help users create accurate financial reports such as cash … Continue reading “GPX Software Nets $250k”
Michigan Startups Reflect National Resurgence in Venture Capital Dollars
Michigan startups attracted $24.7 million in venture capital during the fourth quarter last year, according to the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association based on data from Thomson Reuters. Metabolic Solutions Development (MSDI), a drug maker based in Kalamazoo, MI, grabbed the largest share of the state’s take with nearly a … Continue reading “Michigan Startups Reflect National Resurgence in Venture Capital Dollars”