Biotectix is putting some of its new financial firepower to work. The Ann Arbor, MI-based startup, a spinoff from the University of Michigan, said Monday that it acquired the intellectual property portfolio of Chameleon BioSurfaces in Cambridge, England. Terms of the deal were not disclosed. Biotectix is developing polymer materials designed to improve how implantable … Continue reading “Device Coating Startup Biotectix Buys IP From Chameleon BioSurfaces”
Category: Detroit
Adeona Nabs Another $400k In Grant Money
Adeona Pharmaceuticals (AMEX:[[ticker:AEN]]) said Monday that it received another $409,426 in grant money from the National Multiple Sclerosis Society. The Ann Arbor, MI-based company is currently conducting a clinical trial of its Trimesta drug to treat female MS.
Countdown to Michigan 2031: Will Medical Devices Lead the Way?
If Michigan was looking for an industry to bolster its future high tech economy beyond automobiles, medical devices would appear to be a good bet. HandyLabs and Accuri Cytometers, both University of Michigan spinoffs based in Ann Arbor, MI, were recently purchased by Benton, Dickinson & Co. With nearly $8 billion in revenue last year, … Continue reading “Countdown to Michigan 2031: Will Medical Devices Lead the Way?”
Bigger Isn’t Better: It’s Time for Big Pharma to Break Up Into Little Pharma
Fresh headlines cross my desk almost weekly about the crisis in the pharmaceutical business. Jaw-dropping sums of money, about $65 billion a year, flow into the pursuit of new medicines. Yet every year we hear the same old refrain—a pathetic number of new FDA-approved drugs, just 21 last year—come out the other end. This highly … Continue reading “Bigger Isn’t Better: It’s Time for Big Pharma to Break Up Into Little Pharma”
“Consumer Surplus” from Personal Technology Is Soaring in the Age of Appreciation
It used to be that purchases began depreciating in value the moment you bought them. A new car, for example, might as well come with a little Kelley Blue Book countdown under the odometer showing its declining resale price. Indeed, the idea that property depreciates is so universal that it’s built into our accounting methods … Continue reading ““Consumer Surplus” from Personal Technology Is Soaring in the Age of Appreciation”
AssureRX Health Secures $11,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fb5c0ce1-d9b1-4c5e-853b-59b0760428f4&Preview=1 Date 3/25/2011 Company Name AssureRX Health Mailing Address 7264 Columbia Road Mason, OH 45039 Company Description Cincinnati-based AssureRx Health, Inc. is a personalized medicine company which specializes in pharmacogenetics and is dedicated to helping physicians determine the right drug at the right dose for individual patients suffering from medical conditions. Website … Continue reading “AssureRX Health Secures $11,000,000 Series B Funding”
Southwest Michigan First Life Science Fund Seeks Additional Firepower
The Southwest Michigan First Life Science Fund (SWMF) is close to completing an add-on round of financing to bolster its original $50 million fund. Managing director Pat Morand said he expects to announce something in a month or two. Though Morand declined to disclose the size of the add-on, he said it would be at … Continue reading “Southwest Michigan First Life Science Fund Seeks Additional Firepower”
Angie’s List Lands $53,599,838 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=37e0c4e9-5529-4d98-b9b5-80e0c55f1a7a&Preview=1 Date 3/24/2011 Company Name Angie’s List Mailing Address 1030 E. Washington St. Indianapolis, IN 46202 Company Description Angie’s List is a growing collection of homeowners’ real-life experiences with local service companies. The people who join Angie’s List are like you — looking for a way to find trustworthy companies that perform … Continue reading “Angie’s List Lands $53,599,838 New Funding”
Zystor Therapeutics Garners $100 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f87f4a34-b053-4dec-8657-b7c000bd1ff5&Preview=1 Date 3/24/2011 Company Name Zystor Therapeutics Mailing Address 10437 Innovation Drive Milwaukee, WI 53226-4838 Company Description ZyStor Therapeutics, Inc. is a biotechnology company developing innovative therapeutics that will significantly improve the lives of patients who suffer from genetic disorders known as lysosomal storage diseases (LSDs. Website http://www.zystor.com Transaction Type Venture Equity … Continue reading “Zystor Therapeutics Garners $100 New Round”
BoroPharm seeks to expand at U-M North Campus Research Complex
When Pfizer closed its Ann Arbor, MI-based research facility in 2008, taking over 2,000 jobs with it, the community mourned the loss of such a prestigious, high tech employer. BoroPharm, however, saw an opportunity. “When they left…companies like ours were able to find people and offer them positions,” BoroPharm CEO Todd Zahn says. “In typical … Continue reading “BoroPharm seeks to expand at U-M North Campus Research Complex”
Who’s Going to Pay for Future Drug Development? (Part 2)
In the first part of this article, I detailed how pharma and biotech companies, along with the federal government, provide the majority of funding for biomedical research in the U.S. In this second part, I’ll turn my attention to a number of other sources, both for-profit and nonprofit, that also provide the capital that drives … Continue reading “Who’s Going to Pay for Future Drug Development? (Part 2)”
Own Raises Another $50,000, Nabs Coffee House Customers
It has been nearly two years of hard work but Own president/founder Verdi Erel Ergun can finally say what every new company wants to say. “We now have a real product with real paying customers!” Ergun e-mails me. Since Xconomy first profiled the Ann Arbor, MI-based startup last summer, Own has raised $50,000 from Invest … Continue reading “Own Raises Another $50,000, Nabs Coffee House Customers”
Ann Arbor Mulls Tax Breaks For Sakti3
The city council in Ann Arbor, MI will hold a public hearing in early April on a plan that would establish an industrial development district (IDD) on land being developed by Sakti3, according to the Ann Arbor Chronicle. The advanced battery startup, a spinoff from the University of Michigan, is reportedly considering an investment of … Continue reading “Ann Arbor Mulls Tax Breaks For Sakti3”
Accuri Cytometers Deal Done
Becton, Dickinson & Co. has completed its purchase of Accuri Cytometers in Ann Arbor, MI. Financial terms were not disclosed.
Arboretum Helps NxThera Raise Nearly $13M
NxThera Inc., a medical device maker based in St. Paul, MN, said it raised $12.6 million in a Series B round from a group of investors that includes Arboretum Ventures in Ann Arbor, MI. Other investors include American Medical Systems, Aberdare Ventures, and GDN Holdings, the investment firm of former Medtronic vice chairman Dr. Glen … Continue reading “Arboretum Helps NxThera Raise Nearly $13M”
Who’s Going to Pay for Future Drug Development? (Part 1)
In case you haven’t noticed, heart disease remains a debilitating illness for millions. Cancer, despite some recent advances, has not been cured. Drug resistant strains of bacteria are spreading across the globe. There are still no effective treatments for Parkinson’s disease, amyotrophic lateral sclerosis, muscular dystrophy, and a huge number of other illnesses. The number … Continue reading “Who’s Going to Pay for Future Drug Development? (Part 1)”
Can Southeast Michigan’s Four Accelerators Play Nice With Each Other?
Last week, the Kauffman Foundation released details from a six-month study that cataloged the capabilities of the region’s four top economic development groups: Ann Arbor Spark, TechTown in Detroit, Automation Alley in Troy, and Macomb-OU Incubator. Collectively, the report boasts, the groups “have created more than 1,000 jobs and invested approximately $18 million in hundreds … Continue reading “Can Southeast Michigan’s Four Accelerators Play Nice With Each Other?”
Think Obamacare Will Suffocate New Drug Development With Price Controls? Think Again
There were a million arguments against healthcare reform a year ago. One was that if President Obama got his way and expanded health insurance to millions of uninsured people, and the government made a real effort to study the comparative effectiveness of drugs at high and low prices, it was really the first step toward … Continue reading “Think Obamacare Will Suffocate New Drug Development With Price Controls? Think Again”
8thBridge Obtains $10,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=36c68b49-1683-4a5f-9631-0b29b6e5ac47&Preview=1 Date 3/21/2011 Company Name 8thBridge Mailing Address 110 5th St. N. Minneapolis, MN 55403 Company Description Merchants partner with 8thBridge to create social shopping experiences for their customers inside Facebook and on their ecommerce sites. Customers are empowered to shop with merchants on their own terms in a shopping experience that … Continue reading “8thBridge Obtains $10,000,000 Series B Financing Round”
How to Enchant Your Way to Tech Success, Kawasaki Style
You’re a technology entrepreneur—more power to you. You’ve built a great product that solves a real problem—congratulations. Unfortunately, that’s only half the battle. Maybe even less than half. Now you have to make the world believe in you and your product. That’s the part of entrepreneurship that many innovators and startup founders aren’t prepared for. … Continue reading “How to Enchant Your Way to Tech Success, Kawasaki Style”
Beringea Drops $4m On MatsSoft
Beringea, the private equity firm based in Farmington Hills, MI, said it invested $4.2 million in British IT firm MatsSoft. The company, headquartered in Bedford, England, makes workflow, management software.
Now Showing on Gas Station TV: Impulse Buying!!!!
You’re pumping gas in the middle of an errand-filled Saturday afternoon. A commercial for the eatery down the road on the screen appears above the pump. Suddenly, your stomach growls. You head to the restaurant, armed with a coupon the pump had just spit out. For Gas Station TV, based in Birmingham, MI, that scenario … Continue reading “Now Showing on Gas Station TV: Impulse Buying!!!!”
From Human Tissue Supplier to R&D Contractor to BioBank Builder, Asterand Seeks Its Future
When Asterand acquired BioSeek last year, the company wasn’t just buying another fast growing San Francisco area startup. Asterand was buying a big chunk of its future. Faced with slowing growth in its core business of supplying drug makers with human tissue, the Detroit-based company has been trying to position itself as a full scale … Continue reading “From Human Tissue Supplier to R&D Contractor to BioBank Builder, Asterand Seeks Its Future”
NxThera Obtains $12,600,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=167582e4-7aaa-4587-a368-317d55626b7a&Preview=1 Date 3/16/2011 Company Name NxThera Mailing Address 4186 Lexington Ave. St. Paul, MN 55126 Company Description NxThera develops medical technologies to treat a variety of endourology conditions, including BPH. The company’s technology platform utilizes a simple, minimally invasive, vapor therapy designed to measurably improve urinary flow and patient quality of life. … Continue reading “NxThera Obtains $12,600,000 Series B Round”
European Automakers Begin to Adopt Maxwell’s Ultracapacitor Technology
The conference rooms are filled close to capacity today at the Roth Capital Partners’ annual conference for small-cap companies in Dana Point, which the Newport Beach, CA-based investment banking firm is calling its biggest conference in 23 years. “The Japanese situation has tempered a bit of the enthusiasm today,” said Ted Roth, Roth Capital’s president, … Continue reading “European Automakers Begin to Adopt Maxwell’s Ultracapacitor Technology”
Lakeside Software to expand
Lakeside Software said it will spend $6.8 million to expand its operations at its Bloomfield Hills headquarters and to move some operations to Ann Arbor. The company, which makes enterprise management and virtualization software, said the move will create up to 198 jobs, including 73 in Ann Arbor.
Xconomy Editor Successfully Avoids Wrecking Electric Car. Entire World Rejoices.
Who Killed The Electric Car? Hopefully not me. As I surveyed the commotion at the Environmental Protection Agency’s National Vehicle and Fuel Emissions Laboratory in Ann Arbor Monday morning, I couldn’t help but think of that documentary for a couple of reasons. One, I was just about to test drive one of the next-generation electric … Continue reading “Xconomy Editor Successfully Avoids Wrecking Electric Car. Entire World Rejoices.”
Where Are Tomorrow’s Blockbuster Biotech Drugs Coming From? You Might be Surprised
The San Francisco Bay Area has a storied tradition as the birthplace and leading hub of biotechnology, but something curious has happened the past couple years. Most of the scientifically groundbreaking, medical-textbook rewriting, financially lucrative new biotech drugs of the 21st century are coming from somewhere else. This dawned on me last week as I … Continue reading “Where Are Tomorrow’s Blockbuster Biotech Drugs Coming From? You Might be Surprised”
University of Michigan Tech Transfer Makes Great Progress in Ten Years. But Is It Enough?
When Ken Nisbet arrived at the University of Michigan in 2001, the Office of Technology Transfer (OTT) was an office in name only. Like at most universities at the time, tech transfer at U-M was an afterthought, a low priority enterprise usually staffed by people with little or no industry experience. But after witnessing the … Continue reading “University of Michigan Tech Transfer Makes Great Progress in Ten Years. But Is It Enough?”
Beringea Holds “Office Hours” For Entrepreneurs. 15 Minutes To Sell A Dream.
“Steve Beeler,” says the cheery, bespectacled man sporting a bright green tie as he extends his hand to me. “Nice to meet you,” I reply. “Do you have a business card?” “Um…no,” Beeler says somewhat sheepishly. “We just settled some issues with our [web]domain name.” Ah, the life of a high tech startup! We’re sitting … Continue reading “Beringea Holds “Office Hours” For Entrepreneurs. 15 Minutes To Sell A Dream.”
GrubHub.com Secures $20,000,000 Series D Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5196972c-e81c-47b4-9f62-ef7f68415d62&Preview=1 Date 3/9/2011 Company Name GrubHub.com Mailing Address 1440 N Dayton Chicago, IL 60622 Company Description The company operates a website that allows users to learn which restaurants deliver food, view menus, reviews and more. Website http://www.grubhub.com Transaction Type Venture Equity Transaction Amount $20,000,000 Transaction Round Series D Proceeds Purposes This additional … Continue reading “GrubHub.com Secures $20,000,000 Series D Financing Round”
Ghostly now haunts Tech Brewery
Ghostly International, a high tech art house, recently moved its Ann Arbor operations to Tech Brewery. The company moved its three full time staff members as well as a “cadre of interns” to the incubator at the end of February, Jeremy Peters, Ghostly’s director of creative licensing and business affairs, wrote in an e-mail to … Continue reading “Ghostly now haunts Tech Brewery”
Fluke or Trend? One Investor Reflects on HealthMedia Acquisition —Sees Promise, but Not Critical Mass, in Michigan Innovation Ecosystem
One exit does not a trend make. In 2005, Chrysalis Ventures led a $2 million investment in HealthMedia, based in Ann Arbor, MI. Three years later, Johnson & Johnson bought HealthMedia. Terms of the deal weren’t disclosed but Chrysalis says it ultimately earned 18 times its initial investment. Not too bad. Despite its success with … Continue reading “Fluke or Trend? One Investor Reflects on HealthMedia Acquisition —Sees Promise, but Not Critical Mass, in Michigan Innovation Ecosystem”
EduLender Lands $1,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=eda9c996-1240-471b-8612-f650d2d0aa8f&Preview=1 Date 3/8/2011 Company Name EduLender Mailing Address 875 North Michigan Avenue Chicago , IL 60611 Company Description EduLender’s search engine was developed in collaboration with financial aid officers, students, and parents. It has received glowing reviews from the media and from hundreds of financial aid offices that say EduLender is the … Continue reading “EduLender Lands $1,000,000 New Financing”
Michigan Economic Development Chief Defends Governor’s Tax Proposals
Republican Gov. Rick Snyder’s top economic development official defended a controversial plan to eliminate certain tax credits in favor of a flat corporate tax rate, arguing the state’s economy would better benefit from broad tax reform than tax breaks aimed at specific industries. The best way to lower the state’s 11 percent unemployment rate is … Continue reading “Michigan Economic Development Chief Defends Governor’s Tax Proposals”
Rising Diesel Prices Helped to Spark Fallbrook’s Hodyon Acquisition
San Diego’s Fallbrook Technologies, which has spent more than a decade developing technology for a more fuel-efficient, continuously variable transmission, says today it has acquired Hodyon, a Texas-based maker of auxillary power systems for trucks. Financial terms were not disclosed, but Fallbrook CEO Bill Klehm called me from Europe to explain the logic of the … Continue reading “Rising Diesel Prices Helped to Spark Fallbrook’s Hodyon Acquisition”
Forget About the IPO Market: It’s Time for Biotechs To Think Differently
When a company like Plexxikon can’t pull off a big-time IPO, you know something’s out of whack in the biotech world. Berkeley, CA-based Plexxikon hit the motherlode last week when it agreed to be acquired for $805 million upfront, plus $130 million in milestones, by Japan-based Daiichi Sankyo. VCs everywhere drooled. That’s because in this … Continue reading “Forget About the IPO Market: It’s Time for Biotechs To Think Differently”
U-M Startup Aims to “Reveal” Design Flaws In Computer Chips
Designing a next generation computer chip can be a real pain in the…uh, hard drive. Just ask Intel. In January, the world’s largest maker of chips said it stopped shipments of chips that power its most advanced Sandy Bridge line of PC processors because of a design flaw, a recall Intel said would cost it … Continue reading “U-M Startup Aims to “Reveal” Design Flaws In Computer Chips”
“Leonardo’s Notebook”—My Killer App for the iPad 2
Attention all mobile app developers: I’m about to give you an idea for a great new consumer app. I think it’s something that would appeal to any adventurous, creative, curious person—travelers, outdoorsmen, students, scrapbookers, artists, and the like. I think this is the moment to build it, since it’s something that wouldn’t have been possible … Continue reading ““Leonardo’s Notebook”—My Killer App for the iPad 2″
Alfalight Garners New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ecec3f31-a048-4662-8ba1-38619689715a&Preview=1 Date 3/4/2011 Company Name Alfalight Mailing Address 1832 Wright Street Madison, WI 53704 Company Description Alfalight, Inc. is a technology innovator and manufacturer of highly efficient and reliable high-power diode lasers for industrial, defense, and telecommunications markets worldwide. Website http://www.alfalight.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Undisclosed Proceeds … Continue reading “Alfalight Garners New Funding”
Who Needs a CEO? Lycera Strikes Deal with Pharma Giant Merck
Lycera founder and chief scientific officer Gary Glick is feeling pretty good these days. And who can blame him? Just last fall, CEO Bill Sibold left the Plymouth, MI-based drug startup after less than a year on the job. That’s usually not a good sign. Six months later, Lycera still doesn’t have a CEO. But … Continue reading “Who Needs a CEO? Lycera Strikes Deal with Pharma Giant Merck”
Cut! Michigan’s Film and Video Game Startups Fear Loss of Popular Tax Credits
[Corrected, 3/4/11, 3:44 p.m.]When Republican Gov. Rick Snyder recently proposed eliminating generous tax breaks that have made Michigan a top destination for Hollywood-produced film and TV shows, heads started to roll. Pity the poor politician who would deny voters the chance to see George Clooney in the flesh! But beyond robbing screaming fans of the … Continue reading “Cut! Michigan’s Film and Video Game Startups Fear Loss of Popular Tax Credits”
San Diego’s Bump.com Ready to Hit the Road With Auto-Based Social Networking
With less than two weeks to go before one of the big tech meetings of the year, the countdown has begun at the Bump network’s headquarters in the scenic San Diego coastal community of La Jolla. After unveiling a beta version of its Bump.com social network technology at the Demo Fall conference almost six months … Continue reading “San Diego’s Bump.com Ready to Hit the Road With Auto-Based Social Networking”
What Happened to the Smart Cars? Ford’s Efforts to Impress NYT Columnist Evidently Fall Short
Ford wants to build “smart” cars that can communicate with each other and the road to boost safety, an aim we can all presumably get behind. But when it comes to cars facilitating human to human communication…well, that’s another story. In her Sunday column, New York Times columnist Maureen Dowd said she feared that Ford’s … Continue reading “What Happened to the Smart Cars? Ford’s Efforts to Impress NYT Columnist Evidently Fall Short”
Big Pharma’s Hardball Tactics Won’t Kill Biotech, But They Could Kill Off Some Pharmas
Few people in biotech have the guts to stir the pot the way Kevin Kinsella did in an interview with Xconomy’s Bruce Bigelow earlier this month. Kinsella, a venture capitalist with a 30-year track record of biotech investing, delivered a blistering analysis of what he sees as the pharmaceutical industry’s bad-faith negotiating habits, predatory behavior, … Continue reading “Big Pharma’s Hardball Tactics Won’t Kill Biotech, But They Could Kill Off Some Pharmas”
Groupon Obtains $16,229,346 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=37130b55-d7b1-4990-9a17-5fa06399da56&Preview=1 Date 2/28/2011 Company Name Groupon Mailing Address 600 W Chicago Ave Chicago, IL 60654 Company Description Launched in November 2008, Groupon features a daily deal on the best stuff to do, see, eat, and buy in a variety of cities across the United States. We have about 40 wonderful people working … Continue reading “Groupon Obtains $16,229,346 New Financing”
Terry Cross: Michigan Needs to Break Down Its Proverbial Silos
It’s Oscar weekend folks! Come Sunday, we’ll know if a stammering King outshines a boozy U.S. Marshal or whether a crazy ballerina edges out a lesbian mother. God, I love the movies! But one actor won’t be taking home any hardware because…well, he wasn’t nominated. And that’s a damn shame because he was really good, … Continue reading “Terry Cross: Michigan Needs to Break Down Its Proverbial Silos”
Seven Questions That Will Decide Mobile’s Future-Part Two
To me, one thing seems pretty clear: the changes wrought over the coming 10 years by mobile devices are going to be even more far-reaching than those we’ve seen over the past 20 years from desktop and laptop PCs. The shifts in the ways we communicate, learn, shop, travel, and do business might not be … Continue reading “Seven Questions That Will Decide Mobile’s Future-Part Two”
Future Simple Obtains $1,100,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4c15ff44-791c-4796-bcfd-5560f50eb16b&Preview=1 Date 2/25/2011 Company Name Future Simple Mailing Address 5807 Woodlawn Chicago, IL 60637 Company Description The company develops software that helps small businesses grow their business. Website http://www.futuresimple.com Transaction Type Venture Equity Transaction Amount $1,100,000 Transaction Round Undisclosed Proceeds Purposes The investment will be used to add to the management team … Continue reading “Future Simple Obtains $1,100,000 New Round”
Vontoo Receives $192,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4edf4b72-5790-46c7-b6f8-81e45442d25c&Preview=1 Date 2/25/2011 Company Name Vontoo Mailing Address 8606 Allisonville Road Indianapolis, IN 46250 Company Description Vontoo brings the emotion, enthusiasm, and energy of the human voice to one-to-one marketing communication. The world’s first permission-based, on-demand voice messaging system, Vontoo enables organizations to create, send and track voice messages specifically tailored to … Continue reading “Vontoo Receives $192,000 New Funding Round”