[Updated 1:26 pm PT with survey results] If you’re trying to figure out what the heck a certain biotech company does, the last place to look is usually the company name. Names often don’t mean much, or at least it isn’t obvious. But sometimes you actually can learn a lot about what makes a company … Continue reading “Why Would a Biotech Company Go the Trouble of Changing Its Name?”
Category: Detroit
J&J Prostate Cancer Trial Shouldn’t Have Been Stopped Early
One of the more anticipated clinical trials at this year’s American Society of Clinical Oncology (ASCO) meeting was for Johnson & Johnson’s abiraterone (Zytiga) in prostate cancer patients. This study, known as COU-AA-302, was stopped early because independent monitors said the drug was clearly effective. But that decision to stop the trial early is questionable, … Continue reading “J&J Prostate Cancer Trial Shouldn’t Have Been Stopped Early”
Ford Increases Focus on Outside Innovation With Two New Programs
Bill Coughlin, the CEO of Ford Global Technologies (which manages the intellectual property portfolio belonging to the Ford Motor Company), recently paid a visit to a group of students at Lawrence Technological University in metro Detroit. While there, a student showed Coughlin his design for a self-cleaning wheel. Coughlin says the concept was not only … Continue reading “Ford Increases Focus on Outside Innovation With Two New Programs”
The Pace of Re-Imagination: We All Live in Dog Years Now
My dog Rhody, an Australian Shepherd, turned 15 a few weeks ago. He’s a living refutation of the old myth that dogs age as much in one year as humans do in seven. By that formula he’d be acting like a doddering 105-year-old, but if you met him you’d agree that he doesn’t seem a … Continue reading “The Pace of Re-Imagination: We All Live in Dog Years Now”
Calling All Entrepreneurs: Apply Now for Bizdom’s Summer Session
Bizdom, the business accelerator backed by Quicken Loans’ Dan Gilbert with locations in Detroit and Cleveland, is now accepting applications for its summer 2012 session. The three-month program mentors and funds entrepreneurs who want to launch tech-based startups in Detroit or Cleveland. Successful applicants will receive up to $25,000 in seed funding in exchange for … Continue reading “Calling All Entrepreneurs: Apply Now for Bizdom’s Summer Session”
Can Develop Detroit Make You a Talented Mobile Developer in 90 Days?
Starting June 11th, Develop Detroit kicks off its inaugural 12-week program that promises to take attendees from coding novices to capable mobile developers able to build an iPhone or iPad application at will. The course will take place two evenings a week with the hope to have a first-year class size of 20 to 30 students. … Continue reading “Can Develop Detroit Make You a Talented Mobile Developer in 90 Days?”
AssureRx Health Secures $12,500,000 Series C Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=398a14ef-288f-42ac-ad9a-8e9129bd7212&Preview=1 Date 5/31/2012 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 $12,500,000 Series C Funding”
Design In Detroit Connects Creative Entrepreneurs
Earlier this month, the Detroit Creative Corridor (DC3), a business accelerator for entrepreneurs in creative fields, announced it will launch “Design in Detroit,” a new online platform to try to connect artistically minded businesses with individuals and institutions in the region. This three-year, Knight Foundation-funded effort to create a digital network for Detroit’s creative community also … Continue reading “Design In Detroit Connects Creative Entrepreneurs”
Basic Biology: The Complex Core of Drug Discovery
The hardest task in major league sports is hitting a baseball. Those who can successfully do this even three out of every ten times over the course of a career are likely to find themselves enshrined in Cooperstown at the Hall of Fame. Unfortunately, scientists who strive to discover new medicines can only fantasize about … Continue reading “Basic Biology: The Complex Core of Drug Discovery”
Grubwithus Lands $5,000,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cb6958b1-4a84-4c86-aea3-7419c8019dd8&Preview=1 Date 5/30/2012 Company Name Grubwithus Mailing Address Undisclosed Chicago, IL 60606 Company Description The company operates an online website and service that allows people to find people to eat with via an online reservation service. Website http://www.grubwith.us Transaction Type Venture Equity Transaction Amount $5,000,000 Transaction Round Series A Proceeds Purposes In … Continue reading “Grubwithus Lands $5,000,000 Series A Round”
smartDIGITAL Secures $2,700,000 Series A Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7c9c2103-2fde-4d6b-8c82-b4bf9fd427a3&Preview=1 Date 5/30/2012 Company Name smartDIGITAL Mailing Address 1727 S. Indiana Ave Chicago, IL 60616 Company Description smartDIGITAL is a digital media company focused on developing technology-based products that increase communication and enhance consumer’s access to technology. SD has built strong, innovative public and private partnerships that drive revenue while providing cities … Continue reading “smartDIGITAL Secures $2,700,000 Series A Financing Round”
Inno-Vention: A Medical Main Street Conference
This event will highlight the life sciences and health care industries in Southeast Michigan. Representatives from medical device companies, hospitals, and suppliers will be on hand for panel discussions, networking, and more. For details and registration, click here.
Managing Cash Flow and Operating Your Business
TechTown hosts this workshop designed to offer business owners the tools to improve cash management. For more information, click here.
Michigan Council of Women in Technology Forum
“Making the Leap: Taking on New Challenges in Challenging Times” features a panel of women who work in technology discussing taking a chance on major career changes. For more information, click here.
Mobile Moves Michigan
Learn more about the many ways mobile technology is changing our lives and the way we do business at this two-day symposium that includes keynote speeches, networking, exhibits, and a hack-a-thon. For details, click here.
Telematics Detroit 2012
More than 40 sessions will be held on topics relating to how telematics is redefining the auto industry. Executives from Mercedes-Benz, Audi, Nissan, Ford, BMW, Toyota, GM, Facebook, and more will be on hand. For full details, agenda, and registration, click here.
ENRG Power Systems Is Ready for Liftoff
[Corrected 5/29/12, 7:30 p.m. See below.] Milton Roye has spent most of his life working for a series of automakers and suppliers: General Motors, Delphi, Tata. It was in this capacity as a seasoned industry expert that an old classmate from MIT approached him about some new technology he’d been working on. It was a … Continue reading “ENRG Power Systems Is Ready for Liftoff”
Michigan VC Report Highlights Positive Trends
On the heels of Renaissance Venture Capital announcing earlier this month that it had its first close of $60 million on its second fund, the Michigan Venture Capital Association (MVCA) released its annual report on the state of Michigan’s venture ecosystem. Its findings? More venture capital—a 64 percent increase in the past five years—and more … Continue reading “Michigan VC Report Highlights Positive Trends”
Contest for Green Tech Entrepreneurs
The MSU Bioeconomy Institute in Holland, MI and its partners in the i6 Green project are offering a $5,000 cash prize for an exceptional venture featuring clean or green technology. Also on offer is scale-up chemical processing services worth $25,000 and other prizes for runners-up. Email a two to five page business abstract to [email protected] … Continue reading “Contest for Green Tech Entrepreneurs”
Xconomist of the Week: Evan Snyder—Stem Cell Reality Check
San Diego Xconomist Evan Snyder has been called a “stem cell revolutionary” and is regarded as a father in the field of stem cell research. When we talked in his office at San Diego’s Sanford-Burnham Medical Research Institute, he told me he isolated the first neural stem cell in the mid-1980s, as well as the … Continue reading “Xconomist of the Week: Evan Snyder—Stem Cell Reality Check”
Can Pocket (née Read It Later) Become the TiVo of the Web?
On the iPhone, the first page of the home screen—the one you see when you wake up the device—has room for only 20 apps, counting those in the dock. The iPad home screen holds 26. For me, that means the home screen is prime real estate, reserved only for the apps I use most often. … Continue reading “Can Pocket (née Read It Later) Become the TiVo of the Web?”
Gigabit Squared Receives $200,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=500c75de-3120-4171-b82b-b2c9d28dd75e&Preview=1 Date 5/25/2012 Company Name Gigabit Squared Mailing Address Undisclosed Cleveland Heights, OH 44106 Company Description Gigabit Squared as a company serves as an agent for transformation and change. The corporate model we foster is as critical to the success of your broadband initiative as the actual infrastructure. With the world moving … Continue reading “Gigabit Squared Receives $200,000,000 New Round”
DeVos’ Start Garden Aims to Give Grand Rapids a Jolt
A young member of a prominent Michigan family known for its wealth, its power in political circles, and its philanthropy has launched a new endeavor to try to stoke the flames of entrepreneurship in West Michigan. The DeVos family looms large in Michigan, particularly in Grand Rapids, the second-largest city in the state. They are … Continue reading “DeVos’ Start Garden Aims to Give Grand Rapids a Jolt”
What’s New With Loveland Technologies, Axonia, 3D Biomatrix?
Don’t you hate it when you read an article about a promising new company and then you never hear anything about it again? We do too, which is why we’ve checked in with Loveland Technologies, Axonia Medical, and 3D Biomatrix for updates on the state of their operations, new milestones, and future plans. Loveland Technologies: … Continue reading “What’s New With Loveland Technologies, Axonia, 3D Biomatrix?”
DotLoop Secures $7,000,000 Series A Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=947c1254-840b-45a4-a190-283367771ad0&Preview=1 Date 5/23/2012 Company Name DotLoop Mailing Address 700 W Pete Rose Way Cincinnati, OH 45209 Company Description DotLoop is a company on the cutting edge of technology development which takes forward thinking to the extreme. In just a short time, we have completely streamlined the buying and selling process for real … Continue reading “DotLoop Secures $7,000,000 Series A Funding Round”
AxioMed Spine Garners $5,000,000 Series D Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ecd6bd97-e0b8-4ca6-82b8-908fa86424c7&Preview=1 Date 5/23/2012 Company Name AxioMed Spine Mailing Address 5350 Transportation Blvd. Garfield Heights, OH 44125 Company Description AxioMed Spine Corporation, located in Cleveland, Ohio, was formed in 2001 to develop products for restoring native function to patients with degenerative spine disease; thus advancing the standard of care beyond fusion and first … Continue reading “AxioMed Spine Garners $5,000,000 Series D Funding Round”
CardioInsight Technologies Receives $7,500,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d6b5f35b-1644-4b0b-aaea-e9b7348bcc04&Preview=1 Date 5/23/2012 Company Name CardioInsight Technologies Mailing Address 11000 Cedar Avenue Cleveland, OH 44106 Company Description We are a medical device company in Cleveland, Ohio commercializing patented electrocardiographic imaging technology developed at Case Western Reserve University. Our technology noninvasively images electrical activity on the surface of the heart. Website http://www.cardioinsight.com Transaction … Continue reading “CardioInsight Technologies Receives $7,500,000 New Funding”
Shifting Code Program Helps Retrain MI Professionals for IT Jobs
According to Monster.com, there are currently 841 open software and IT development jobs in Michigan. Compare that to 319 jobs in manufacturing, 487 in healthcare, and a dismal 46 in creative and design. It’s something I hear often in my line of work: There is a severe shortage of software development talent in Michigan, and … Continue reading “Shifting Code Program Helps Retrain MI Professionals for IT Jobs”
Zurex Pharma Lands $6,200,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3e091984-7de1-4474-a0cc-92aeb3fea9e4&Preview=1 Date 5/22/2012 Company Name Zurex Pharma Mailing Address 510 Charmany Drive Madison, WI 53719 Company Description Zurex Pharma, Inc. is a specialty pharma and medical technology company with a novel antimicrobial technology platform. Our company’s mission is to develop and commercialize a portfolio of new antimicrobial products designed to prevent healthcare … Continue reading “Zurex Pharma Lands $6,200,000 Series A Financing”
ReCellular Secures New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0338e965-fa83-4adb-b263-eecbc84dd020&Preview=1 Date 5/22/2012 Company Name ReCellular Mailing Address 2555 Bishop Circle West Dexter, MI 48130 Company Description ReCellular’s comprehensive commitment to environmental protection has won numerous national and local awards. All phones and accessories that cannot be reused are recycled; the company recycles thousands of tons of electronic scrap every year. Website … Continue reading “ReCellular Secures New Funding Round”
Who’s on Biotech’s Endangered Species List? Mid-Sized Drugmakers
[Updated: 9:20 pm PT] Only a few companies have ever been successful enough to call themselves Big Biotechs. If boards and shareholders lack vision and guts, we’ll look back in a few years and wonder why the Big Biotechs went extinct. The group of Big Biotechs includes companies like Amgen, Gilead Sciences, Biogen Idec, and … Continue reading “Who’s on Biotech’s Endangered Species List? Mid-Sized Drugmakers”
My Health Direct Lands $2,413,829 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4c3fe186-bdbe-4ff2-b688-53ae94607895&Preview=1 Date 5/21/2012 Company Name My Health Direct Mailing Address 150 N Sunnyslope Rd Brookfield, WI 53005 Company Description My Health Direct provides an easy to use web tool for clinicians in the ER to re-direct non-emergent patients to the appropriate setting in the community with a confirmed appointment based on the … Continue reading “My Health Direct Lands $2,413,829 New Round”
Will 3-D Thermal Imaging Revolutionize Breast Cancer Detection?
Paul Angott is an idea man. He holds 40 patents on products such as a clock thermostat, a wireless doorbell, and a laser-guided, unmanned mower for football fields and golf courses. Throughout his career, he’s launched five companies and raised more than $10 million for his various entrepreneurial endeavors, sold more than $100 million worth … Continue reading “Will 3-D Thermal Imaging Revolutionize Breast Cancer Detection?”
Can Facebook’s New Millionaires Save the World?
From everyone to whom much is given, much shall be required. Regular readers know that I’m not in the habit of quoting scripture. But this line found in the gospels of Matthew, Mark, and Luke has a bit of new relevance this morning, as Facebook’s initial public offering—valuing the company at $106 billion at the … Continue reading “Can Facebook’s New Millionaires Save the World?”
Does Facebook Solve VC Industry Woes?
So here is my obligatory post on Facebook…which will be the most spectacular IPO of a venture-backed company in the history of mankind…and it just priced tonight. The shares priced at $38 giving the company a market cap of $104 billion fully diluted, raising $16 billion in proceeds. Of the 421 million shares being sold, … Continue reading “Does Facebook Solve VC Industry Woes?”
Think Tech Labs Tailors Salesforce to the Real Estate Market
Yesterday, we published an article about why VC guru Jason Mendelson is feeling bullish about Michigan as a hub for entrepreneurship. He pointed out that the state’s tendency toward collaboration is an important asset that should continue to be championed. Vijay Mehra, CEO of Think Tech Labs, wholeheartedly agrees. It’s exactly the reason that, six … Continue reading “Think Tech Labs Tailors Salesforce to the Real Estate Market”
Xconomist of the Week: Tom Maniatis on Prize4Life and ALS Research
A few years back, molecular geneticist Tom Maniatis was approached by a Harvard Business School student with a heart-wrenching story. The student, Avichai Kremer, then 29, had been diagnosed with amyotrophic lateral sclerosis (ALS), otherwise known as Lou Gehrig’s disease. Kremer had an unusual idea: He wanted to advance ALS research by offering million-dollar prizes … Continue reading “Xconomist of the Week: Tom Maniatis on Prize4Life and ALS Research”
Zyga Technology Secures $25,000,000 Series C Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f2e2a4b1-3905-4784-947c-188fff0f4ec1&Preview=1 Date 5/17/2012 Company Name Zyga Technology Mailing Address 700 10th Avenue South Minneapolis, MN 55415 Company Description Zyga Technology Inc, is a spinal device development company. Website http://www.zygatech.com Transaction Type Venture Equity Transaction Amount $25,000,000 Transaction Round Series C Proceeds Purposes These funds will allow us to focus on building world … Continue reading “Zyga Technology Secures $25,000,000 Series C Funding Round”
VC Guru Mendelson on MI’s Entrepreneurial Ecosystem (And Why There’s Hope)
If the turnout at yesterday’s Michigan Growth Capital Symposium is any indication, our fair state is on the upswing. The conference, in its 31st year, had roughly 450 venture capitalists, entrepreneurs, academics, and government officials in attendance. Jason Mendelson, called “the Elvis of innovation” by this very publication, gave the keynote speech titled, “The Velocity … Continue reading “VC Guru Mendelson on MI’s Entrepreneurial Ecosystem (And Why There’s Hope)”
Targeted Cancer Drugs With Punch: The Next Big Class of Antibodies
[Updated: 11 am PT, 6/5/12] One of the big dreams in biotech over the past 35 years has been to make drugs that work like “smart bombs” by destroying tumors while minimizing collateral damage. Scientists have learned this is no easy thing, but now that a couple of these types of drugs have been shown … Continue reading “Targeted Cancer Drugs With Punch: The Next Big Class of Antibodies”
Batterii Secures $800,000 Seed Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=07d49d9a-5191-4c03-a8a0-40742956f911&Preview=1 Date 5/16/2012 Company Name Batterii Mailing Address Undisclosed Cincinnati, OH 45201 Company Description Batterii is a collaborative platform that connects you, your coworkers and customers in a real-time experience to collect inspiration, build and execute big ideas. Website http://www.batterii.com Transaction Type Venture Equity Transaction Amount $800,000 Transaction Round Seed Proceeds Purposes … Continue reading “Batterii Secures $800,000 Seed Funding Round”
Elicit Garners $1,500,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=bafa8020-ae70-48a1-8be2-b412b19a46b4&Preview=1 Date 5/16/2012 Company Name Elicit Mailing Address 100 West Kinzie Street Chicago, IL 60654 Company Description A venture-backed internet SaaS software company based in Chicago, elicit transforms on-site search into the most powerful branding and conversion tool on the web. Website http://www.elicitsearch.com Transaction Type Venture Equity Transaction Amount $1,500,000 Transaction Round … Continue reading “Elicit Garners $1,500,000 Series A Funding”
SoMoLend Receives $1,700,000 Seed Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=da0f5e13-3967-4d5d-a905-eec272c8489d&Preview=1 Date 5/16/2012 Company Name SoMoLend Mailing Address 1660 West 2nd Street Cleveland, OH 44113 Company Description SoMoLend LLC, a company developing a peer-to-peer lending platform for small businesses. Website http://www.SoMoLend.com Transaction Type Venture Equity Transaction Amount $1,700,000 Transaction Round Seed Proceeds Purposes The investment will be used to complete an alpha … Continue reading “SoMoLend Receives $1,700,000 Seed Funding Round”
CryoLife Acquires HemoSphere for $21,500,000
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1278a482-a74a-4d9f-ba28-61b2b5a4c5f2&Preview=1 Date 5/16/2012 Company Name HemoSphere Mailing Address 6545 City West Pky Eden Prairie, MN 55344 Company Description Hemosphere, Inc., a medical technology company located in Minneapolis, MN, is leading innovation and collaboration in the global development and commercialization of technologies that revolutionize care and restore quality of life for hemodialysis patients … Continue reading “CryoLife Acquires HemoSphere for $21,500,000”
Qualcomm Sees Licensing Model in Wireless EV Charging Technology
Qualcomm (NASDAQ: [[ticker:QCOM]]) plans to use its well-established model in technology licensing as it advances innovations in wireless charging of electric vehicles (EVs), smartphones, and other devices, according to Qualcomm’s top European executive, Andrew Gilbert. The San Diego wireless giant, which announced the formation of a wireless charging standards organization with Samsung last week, also … Continue reading “Qualcomm Sees Licensing Model in Wireless EV Charging Technology”
Courseload Garners $6,861,001 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=85033d4a-1953-4fa2-a699-52b452aeaffd&Preview=1 Date 5/15/2012 Company Name Courseload Mailing Address 351 West Tenth Street Indianapolis, IN 46202 Company Description Courseload formulated a simple vision – use emerging digital technology to cut the cost of textbooks, eliminate the heavy backpack, and enhance teaching and learning with digital tools that support interactivity, multi-media, and collaboration through … Continue reading “Courseload Garners $6,861,001 New Round”
Courseload Garners $6,861,001 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=85033d4a-1953-4fa2-a699-52b452aeaffd&Preview=1 Date 5/15/2012 Company Name Courseload Mailing Address 351 West Tenth Street Indianapolis, IN 46202 Company Description Courseload formulated a simple vision – use emerging digital technology to cut the cost of textbooks, eliminate the heavy backpack, and enhance teaching and learning with digital tools that support interactivity, multi-media, and collaboration through … Continue reading “Courseload Garners $6,861,001 New Funding Round”
Tolera Therapeutics Receives $1,465,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4e55e655-929f-470b-9e29-6e41255a1653&Preview=1 Date 5/15/2012 Company Name Tolera Therapeutics Mailing Address 350 E. Michigan Avenue Kalamazoo, MI 49007 Company Description Building upon research done at the University of Kentucky and the Cleveland Clinic, Tolera Therapeutics is developing and commercializing therapies for the immune suppression / modulation market with the goal of addressing unmet medical … Continue reading “Tolera Therapeutics Receives $1,465,000 New Funding”
Utopia Obtains $50,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9cd212cb-83f1-49af-8f2c-c814da08ef22&Preview=1 Date 5/15/2012 Company Name Utopia Mailing Address 405 Washington Blvd Mundelein, IL 60060 Company Description To be the unparalleled global leader in Enterprise Data Solutions, enabling our customers to harness the power of data and unleash the full potential of their enterprise. Website http://www.utopiainc.com Transaction Type Venture Equity Transaction Amount $50,000,000 … Continue reading “Utopia Obtains $50,000,000 New Round”
JumpStart, NEI Plan New High Tech Accelerator in Detroit
JumpStart Inc., a Cleveland-based nonprofit focused on entrepreneurship and economic development, will team with the New Economy Initiative (NEI) to open a new high-tech accelerator in Detroit, says NEI executive director David Egner. Egner (an Xconomist) says a variety of state and regional investors will fund the accelerator and he expects it to have an … Continue reading “JumpStart, NEI Plan New High Tech Accelerator in Detroit”