Category: Detroit

Personalized Medicine Regulation Needs More Than Band-Aids

Last week, New York State assemblyman J. Gary Pretlow introduced the descriptively named “act to amend the insurance law, in relation to requiring coverage for genetic testing in accident and health insurance polices.” While not accompanied by a press release, or widely covered by media outlets, the bill merits close attention. While the substance of … Continue reading “Personalized Medicine Regulation Needs More Than Band-Aids”

Shrinkage—Expanded Upon….

Poor investment returns have had a similar effect to cold water – the VC industry is shrinking. As a follow-up to comments I posted this past weekend, I wanted to look deeper into recent fundraising data and see what other implications one might draw. Since 1980 the VC industry has raised $495 billion across 4,333 … Continue reading “Shrinkage—Expanded Upon….”

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”

From the Caves of Michigan’s Sleeping Bears Comes Kalamazoo’s Aursos, and a Possible New Drug for Osteoporosis

Deep in the wild, frozen woodlands of Michigan’s Upper Peninsula, it seems that even the scientists are a different, heartier breed of human. A few years ago, Seth Donahue, an associate professor in biomedical engineering at Michigan Technological University in Houghton, MI, decided to gather a few of his bravest grad students and sneak into … Continue reading “From the Caves of Michigan’s Sleeping Bears Comes Kalamazoo’s Aursos, and a Possible New Drug for Osteoporosis”

Flex Biomedical Receives $866,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2800ac26-b90e-4cf6-b1aa-cea88431cbfe&Preview=1 Date 1/27/2011 Company Name Flex Biomedical Mailing Address 505 S. Rosa Road Madison, WI 53719 Company Description Flex Biomedical’s lead product is a synthetic polymer, the Flex Polymer, designed to treat osteoarthritis, an incurable joint disease that affects millions around the world. Website http://www.flexbio.com Transaction Type Venture Equity Transaction Amount $866,000 … Continue reading “Flex Biomedical Receives $866,000 New Funding Round”

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”

The New Normal for Biotech Startups

The structural changes roiling the pharmaceutical sector are driving innovation of biotech business models. With shrinking operating margins, patent expirations, a paucity of new product launches, significant reimbursement pressure, and an unpredictable regulatory environment—Big Pharma’s high risk bets on early stage biotechs of the past decade look cavalier through the lens of the current market … Continue reading “The New Normal for Biotech Startups”

Univa Lands $7,000,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4faeee55-cd8c-467a-8a18-4f3e6beac65b&Preview=1 Date 1/26/2011 Company Name Univa Mailing Address 1001 Warrenville Road Lisle, IL 60532 Company Description Univa is the leading provider of commercial software, technical support, and professional services for Grid infrastructure based on open source Globus software. Website http://www.univaud.com Transaction Type Venture Equity Transaction Amount $7,000,000 Transaction Round Undisclosed Proceeds Purposes … Continue reading “Univa Lands $7,000,000 New Funding”

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”

Axonia Seeks to Regenerate Nerves a New Way, Sidestepping Stem Cell Controversy

Biotech executives were on the prowl a couple weeks ago in San Francisco, many of them urgently seeking tens or hundreds of millions of dollars from Wall Street. But one of the fun, offbeat ideas I encountered during my trip was from a Kalamazoo, MI, entrepreneur seeking to nail down his first $5 million for … Continue reading “Axonia Seeks to Regenerate Nerves a New Way, Sidestepping Stem Cell Controversy”

NextWave Pharmaceuticals Secures $27,229,417 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ca1e5001-534f-42b3-8090-ed57f831ed89&Preview=1 Date 1/25/2011 Company Name NextWave Pharmaceuticals Mailing Address 50 Lakeview Parkway Vernon Hills, IL 60061 Company Description By listening to the needs of parents and children, and working closely with the pediatric community, including pediatricians, physician assistants and nurse practitioners, NextWave Pharmaceuticals is developing a broad line of products across several … Continue reading “NextWave Pharmaceuticals Secures $27,229,417 New Financing”

Introducing Tom Lee–He May Need a Nap, But He’s Never Too Tired To Talk About Innovation

Southeast Michigan, please be kind to Tom Lee. Thanks to some lame, opaque rues at an airline which shall remain nameless, the newest addition to the Xconomy team—who starts today as our Detroit editor and national med tech editor—endured a 10 hour drive this weekend instead of the two-hour flight he was expecting. But weary … Continue reading “Introducing Tom Lee–He May Need a Nap, But He’s Never Too Tired To Talk About Innovation”

EcoMotors Founder Peter Hofbauer Says Company Is Inking Customer Deals, Eyeing Production Facility in Michigan for Its “Opoc” Engine

Peter Hofbauer spent nearly a decade in advanced propulsion system research and nearly another decade in power train development at Volkswagen. After creating and developing the automaker’s first diesel engine, he was ready to relax. “In 1997, I moved to Santa Barbara, CA, and my main idea was to retire—and that did not work,” says … Continue reading “EcoMotors Founder Peter Hofbauer Says Company Is Inking Customer Deals, Eyeing Production Facility in Michigan for Its “Opoc” Engine”

Coffee, Spam, and What the Web Is Doing to Our Minds, From Mimecast’s Nathaniel Borenstein

I learned at least three things over coffee last week with Nathaniel Borenstein, one of the fathers of modern e-mail systems. Sadly, none of them keep me from wanting to set fire to my inbox, which surpassed 30,000 unread messages this weekend. Borenstein is chief scientist at Mimecast, a U.K.-based e-mail management firm with a … Continue reading “Coffee, Spam, and What the Web Is Doing to Our Minds, From Mimecast’s Nathaniel Borenstein”

Fourth Quarter Venture Results—Shrinkage Comes in All Forms

The Q4 2010 VC funding data were released late last week—and the headline was quite upbeat. VCs invested $5 billion in 765 deals in this past quarter, which while essentially flat quarter-over-quarter, brought the full year totals to $21.8 billion invested in 3,277 companies. In 2009, VCs put $18.3 billion into 2,927 companies. It’s easy … Continue reading “Fourth Quarter Venture Results—Shrinkage Comes in All Forms”

Between a Rock and a Hard Place—JP Morgan Afterthoughts

Yes, the mood has undoubtedly improved in comparison to last year’s gathering of the healthcare investment community around the “old clock” at Union Square in San Francisco. But given the overall depression of last year this was perhaps not all that difficult to achieve. I have mulled over all the conversations I had during the … Continue reading “Between a Rock and a Hard Place—JP Morgan Afterthoughts”

The Age of iPad Superbooks? Not Yet

Jadedness: it’s an occupational hazard in tech journalism. Other people look at new software or gadgets and say “Wow.” I look at them and say “Hmm, needs work.” Last weekend’s New York Times Magazine provided a case in point. Writer Virginia Heffernan reviewed 15-Minute Everyday Pilates, a video e-book from Alameda, CA-based Vook, a publishing … Continue reading “The Age of iPad Superbooks? Not Yet”

Unitask Is Out to Cut Consulting Costs With Apps for Oracle Business Software

The founders of Unitask aren’t afraid of change. They started a consulting company in Israel, and have since moved to Cleveland, OH, and most recently Bloomfield Hills, MI. And they’ve transitioned their business from a services operation to a software developer. Israeli Navy veterans Michael Segev, Alex Protas, and Yechiel Tushia started their consulting firm … Continue reading “Unitask Is Out to Cut Consulting Costs With Apps for Oracle Business Software”

Horizon Pharma Secures $35,000,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e166574b-3b7e-49a5-bf62-22afc98baac9&Preview=1 Date 1/21/2011 Company Name Horizon Pharma Mailing Address 1033 Skokie Boulevard Northbrook, IL 60062 Company Description Horizon Pharma, Inc. is a late stage biopharmaceutical company focused on the rapid development and commercialization of therapeutic treatments for mild-to-moderate pain management. The Company is building a novel portfolio of therapies through innovative combinations … Continue reading “Horizon Pharma Secures $35,000,000 New Funding”

A Return to Normalcy: MoneyTree Tracks Venture Funding Gains in 2010

Another report on venture investing is being released today, this time showing a decline in fourth-quarter deal activity compared with the same quarter in 2009—albeit a slight uptick from the previous quarter—and a significant overall gain for the entire year. Venture funding during the fourth quarter of 2010 amounted to $5 billion in 765 deals … Continue reading “A Return to Normalcy: MoneyTree Tracks Venture Funding Gains in 2010”

Is the U.S. Losing its Medical Device Innovation Mojo? PwC Report Says Yes

The United States has been the undisputed leader in medical device innovation for the past 50 years. But there are some out there who insist that title is in jeopardy. It would certainly take a breathtaking free fall, if you look at the standings today. The U.S. is where most of the R&D gets done, … Continue reading “Is the U.S. Losing its Medical Device Innovation Mojo? PwC Report Says Yes”

Belle Capital to Launch Michigan Fund for Startups with Women in Charge

Lauren Flanagan believes that “making money is beautiful.” This is not to be confused with the “greed is good” adage of the famous fictional Gordon Gekko. No, what Flanagan is referring to is the name of her newly formed Michigan-based early-stage fund, Belle Capital. The fund of up to $25 million is planning a formal … Continue reading “Belle Capital to Launch Michigan Fund for Startups with Women in Charge”

ChaCha Search Lands $3,000,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=879681dc-d4e2-4fb3-a7ba-cdb7daed0934&Preview=1 Date 1/20/2011 Company Name ChaCha Search Mailing Address 14550 Clay Terrace Blvd Carmel, IN 46032 Company Description ChaCha is available online and on your phone with information when you need it…any time, anywhere. Other services scan the Internet and return the thousands of pages that mathematically match your query. But, because … Continue reading “ChaCha Search Lands $3,000,000 New Round”

InfoReady Brings in $250K

InfoReady, an Ann Arbor, MI-based developer of collaboration and workflow management software, announced today that it nabbed a $250,000 investment from Automation Alley, bringing its first-round funding to $1.1 million. The funding will go to sales, marketing, and new product rollouts for InfoReady, which is developing its software for clients who need to search relevant … Continue reading “InfoReady Brings in $250K”

SplinkMedia Platform Eyes Sponsorship Deals for Indie Artists

“Music has a way of making you an entrepreneur somehow,” says Ann Arbor, MI native Vaughan Taylor. He would know. He’s spent much of his time in the Michigan independent music scene, with his hip hop group The Athletic Mic League. Then he went the more scholarly route, getting his undergraduate degree at the University … Continue reading “SplinkMedia Platform Eyes Sponsorship Deals for Indie Artists”

Top Trends to Watch in 2011 From Experts in Infotech, Biotech, Cleantech

Innovators have to be very optimistic to believe they can create new technologies that will shake up a market. So it shouldn’t be any surprise that the high tech business leaders Xconomy writes about are looking forward to big things to come in 2011. But these people—from diverse backgrounds in high tech, life sciences, and … Continue reading “Top Trends to Watch in 2011 From Experts in Infotech, Biotech, Cleantech”

U-M Welcomes Startups to New Venture Accelerator on Former Pfizer Campus

“There’s not any other place I’d rather be right now,” Brandon McNaughton said standing at the door of his lab space at the University of Michigan’s Venture Accelerator, which opened officially on Tuesday. Those aren’t words most would expect to hear from a California native looking to launch his own start up. But McNaughton, the … Continue reading “U-M Welcomes Startups to New Venture Accelerator on Former Pfizer Campus”

Boston Scientific Acquires Atritech for $375,000,000

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6635efb2-5d0b-417d-910d-ceb9161dd6ec&Preview=1 Date 1/19/2011 Company Name Atritech Mailing Address 3750 Annapolis Lane Plymouth, MN 55447 Company Description Atritech is an emerging medical device company focused on preventing atrial fibrillation (AF) related stroke through technology. Website http://www.atritech.net Transaction Type M&A Transaction Amount $375,000,000 Transaction Round Proceeds Purposes M&A Terms The agreement calls for an … Continue reading “Boston Scientific Acquires Atritech for $375,000,000”

60mo Receives Series A Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b4f4a087-c027-4890-91fa-5e9f42083421&Preview=1 Date 1/19/2011 Company Name 60mo Mailing Address 2922 Cleveland Rd. Wooster, OH 44691 Company Description The company provides online service to businesses connecting them to their various bank accounts and financial information services. Website http://www.60mo.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Series A Proceeds Purposes Proceeds purposes were … Continue reading “60mo Receives Series A Financing Round”

What Does Biotech Really Suffer From? Information Overload, or Underload?

Cognitive dissonance is defined as “an uncomfortable feeling caused by holding conflicting ideas simultaneously.” I’m suffering from a serious case of discomfort as I try to figure out which is the bigger problem facing biotech scientists: too much information, or too little. Information overload is a serious issue in biomedical research, if not virtually all … Continue reading “What Does Biotech Really Suffer From? Information Overload, or Underload?”

Michigan Launches New $120M VC Pool to Spur Investments in State Tech Startups

The state of Michigan has launched a new $120-million venture capital pool that will invest in seed and early-stage venture capital funds that in turn invest in high-tech companies in the state. Venture firms that receive money from the Venture Michigan Fund II will be required to invest at least as much in Michigan-based companies … Continue reading “Michigan Launches New $120M VC Pool to Spur Investments in State Tech Startups”

Scenes from JP Morgan 2011: The Photo Gallery

The marathon biotech schmoozefest known as the JP Morgan Healthcare Conference is officially over, and I’ll say two things first off. Wow, it was fun. And wow, I’m glad to be home. Xconomy’s bookkeeper will surely get a chuckle out of what my Amex card says about my activity this week in San Francisco’s Union … Continue reading “Scenes from JP Morgan 2011: The Photo Gallery”

Fundamentals of Writing a Business Plan

This seminar will take a look at what elements go into a business plan, including market research, marketing, finance, operations, and management, and will provide tools for attendees to draft their own plan there. Register here.

Michigan Energy Forum: Renewable Energy Systems

This Ann Arbor Spark event will feature a panel to discuss the business opportunities surrounding renewable energy. Speakers will come from the Michigan Energy Office, Greenovation TV, and the Michigan Public Service Commission’s Renewable Energy division. Register here.

One Big Cancer Story from 2010, and Four Trends to Watch in 2011

Top innovative news from 2010: • Amgen’s 147 trial was the first study to ever show a delay in the onset of bone metastases in men with prostate cancer, for the denosumab (Xgeva) investigational clinical program. This result showed that you can prevent or delay skeletal metastases by making the bone microenvironment an inhospitable place … Continue reading “One Big Cancer Story from 2010, and Four Trends to Watch in 2011”

The Instapaper Effect-Or, The Dilemma of Long-Form Writing on the Web

goat-choker (n.) An article of inordinate and suffocating length, produced to gratify the vanity of the author and the aspirations of the publication. (John McIntyre) I regularly write articles that, by Web standards, are obscenely long. My November article on ShopWell was 6,500 words long, and my series last week on Google’s mobile ambitions ran … Continue reading “The Instapaper Effect-Or, The Dilemma of Long-Form Writing on the Web”

ReCellular Chief Sees Future for Yesterday’s Electronics

Steve Manning saw some of the latest consumer electronics at the 2011 International CES confab in Las Vegas this month, and the CEO of Dexter, MI-based ReCellular was reminded how it takes before Americans who buy such nifty gadgets will want to trade in for new stuff. About 15 months. “It was amazing, great neat … Continue reading “ReCellular Chief Sees Future for Yesterday’s Electronics”

Valero Energy Takes Key Role in Mascoma’s Michigan Ethanol Project

Lebanon, NH-based Mascoma has found a key piece of funding for a commercial-scale ethanol plant in northern Michigan. The oil firm Valero Energy has inked a non-binding agreement to invest up to $50 million to fund construction of a refinery that would use wood-based materials to make ethanol. Frontier Renewable Resources, a joint venture of … Continue reading “Valero Energy Takes Key Role in Mascoma’s Michigan Ethanol Project”

U-M Grad Students Add Startup Company ReGenerate to School Duties

It began in 2009 as a project among University of Michigan graduate students to find alternative uses for food waste. Now it’s a company called ReGenerate Solutions, which might be one of the hottest new startups in Southeast Michigan. ReGenerate took the top prize for the student track of December’s Accelerate Michigan Innovation Competition—which was … Continue reading “U-M Grad Students Add Startup Company ReGenerate to School Duties”

December Surge of Internet Deals Carries Venture Capital to Two-Year High

A wave of Internet deals helped venture funding during the fourth quarter of 2010 reach a two-year high-water mark in both the number of deals and capital invested, according to CB Insights, a New York information and data services company tracking the innovation economy. Venture capital firms poured a total of more than $6.5 billion … Continue reading “December Surge of Internet Deals Carries Venture Capital to Two-Year High”

615 Human Genomes? Another Cheap, Fast Sequencing Machine? Complete Genomics, Illumina Steal Show at Healthcare Meeting

Most of the major life sciences reporters in the U.S. are gathered this week in San Francisco, so you know what that means—most of us missed the big story. While pretty much everyone here at the JP Morgan Healthcare Conference—me included—was listening and learning about the latest hot new drug or device, the real news … Continue reading “615 Human Genomes? Another Cheap, Fast Sequencing Machine? Complete Genomics, Illumina Steal Show at Healthcare Meeting”

For Arbor Photonics, a Myriad of Reasons Not to Flee to the Coasts

When Phillip Amaya, CEO of Arbor Photonics, was first brought in to head up the advanced laser processing company, he said he had every intention of locating the start up in California. But Michigan’s aggressive approach to home-growing businesses and keeping them in the state changed Amaya’s mind. “The state came through to help us … Continue reading “For Arbor Photonics, a Myriad of Reasons Not to Flee to the Coasts”

Top Things to Look for in Wireless in 2011

1) 4G. 4G services will become available on a near nationwide basis in 2011. At its best (and what is called “4G” gets murkier every day), 4G offers a true mobile broadband experience. In order to be successful, 4G operators must have a comprehensive go-to-market strategy, with compelling devices, exciting and differentiated applications, and innovative … Continue reading “Top Things to Look for in Wireless in 2011”

Celleration Secures $8,000,000 Series E Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a10222fd-3e38-4105-bae1-06545ed7b6a5&Preview=1 Date 1/12/2011 Company Name Celleration Mailing Address 10250 Valley View Road Eden Prairie, MN 55344 Company Description Celleration Inc., a Minnesota based medical device company, has produced an impressive and growing body of clinical research with an exciting new wound healing device, the MIST Therapy System. Website http://www.celleration.com Transaction Type Venture … Continue reading “Celleration Secures $8,000,000 Series E Round”

FeeFighters Secures $1,600,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7fd03519-3e09-4de6-b09d-5e1c9752ea6b&Preview=1 Date 1/12/2011 Company Name FeeFighters Mailing Address 200 S. Wacker Dr. Chicago, IL 60606 Company Description FeeFighters is a comparison shopping website for credit card processing. Our unique auction process and comparison engine allows us to save businesses 40% on average on their credit card processing. Website http://www.feefighters.com Transaction Type Venture … Continue reading “FeeFighters Secures $1,600,000 New Funding”

Start Spreading the (Innovation) News With Xconomy in New York

I’ve got Frank Sinatra on endless mental replay today and I’ll tell you why: I’m looking for a stellar journalist to start spreading the news about innovation in New York, New York. (Look, nobody’s groaning louder than me about that one.  Let’s move on…) My Xconomy colleagues and I are fascinated by the stories emerging … Continue reading “Start Spreading the (Innovation) News With Xconomy in New York”

U.S. Wages Reset to Early 2008 Levels: Boston and Seattle Fit National Trend; Detroit, San Diego, San Francisco Fare Worse

The average salary for U.S. company workers rose throughout 2007 and 2008, fell during 2009, and held fairly steady in 2010. By the fourth quarter of last year, average earnings had leveled off to approximately what they were at the start of 2008. But there were some variations between different parts of the country. That’s … Continue reading “U.S. Wages Reset to Early 2008 Levels: Boston and Seattle Fit National Trend; Detroit, San Diego, San Francisco Fare Worse”