LANSING – BoroPharm, a Michigan State University spin off that manufactures boronic acids and esters, has received a $250,000 investment from the Capital Community Angels.
Members of the Capital Community Angels, formed in late 2006 by high net worth individuals, invest in entrepreneurial businesses at an early development stage that show strong potential for profitable growth and job creation in the region.
�??In spite of the difficult times, the entrepreneurial spirit, forward thinking and creativity are in our region, albeit still fairly discreetly. The ventures we invest in today will create tomorrow�??s highly-skilled jobs,�?� said Angel Fund Administrator Lo??c Couraud.
�??The Angels identified BoroPharm in 2007 among dozens of other funding requests received,�?� Couraud said. �??Because BoroPharm�??s inventions are at the forefront of its field, a longer-than normal due diligence was given to this proposal. Extensive conversations with pharmaceutical companies and highly respected scientists around the United States validated BoroPharm�??s inventions and research. Investors also completed a thorough review of the company�??s business strategy and plans.�?�
BoroPharm�??s lending personal include Todd Zahn, BoroPharm�??s CEO and the founders Robert Maleczka Jr, PhD, and Milton Smith III, PhD.
BoroPharm develops and commercializes a novel chemical building-block used to synthesize new and existing chemical molecules to support scientists in the pharmaceutical, biotechnology and chemical industries. Specifically, BoroPharm has developed uniquely selective, more efficient, cost effective, environmentally friendly, and robust techniques and processes for producing boron-based compounds that enable scientists to aggregate molecules that otherwise would not combine at all or not in a stable way.
Because of the investment by the Capital Community Angels and recent grants BoroPharm was awarded, (including a NIH-SBIR grant), the East Lansing-based company is ready for the next development stage and will accelerate its sales and the development of its catalog of more than 250 products. The company�??s founders were recently selected by the U.S. Environmental Protection Agency as winners of the prestigious Presidential Green Chemistry Challenge Award. The Company expects to multiply it sales and create more than 25 highly-skilled jobs in the Lansing region during the next three-to four years.
The Capital Community Angels welcome new accredited investors and requests from entrepreneurs in specific industries. For more information on becoming an investor or submitting an executive summary of a business plan, please click on CapitalCommunityAngels.Org
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