ANN ARBOR ? Twelve MichBio member life sciences organizations won a total of $21.5 million from the first round of the 21st Century Jobs Fund.
“We congratulate those of our members who are award recipients, ? said Stephen Rapundalo, Executive Director of MichBio. “These awards recognize the outstanding opportunities MichBio life sciences member organizations offer to the state of Michigan for innovative job creating ideas.”
MichBio member organizations approved include:
Wcare LLC (Washtenaw)
IA, Inc./ThreeFold Sensors (Washtenaw)
ProNAi Therapeutics Inc. (Kalamazoo)
Accuri Instruments, Inc. (Washtenaw)
Compendia Bioscience, Inc. (Oakland)
Genetics Squared Inc. (Washtenaw)
Afid Therapeutics Inc. (Ingham)
Fraunhofer USA, Center for Laser Technology (Wayne)
Michigan Research Institute (Washtenaw)
Sonetics Ultrasound, Inc. (Washtenaw)
Biotechnology Business Consultants, LLC (Washtenaw)
Van Andel Research Institute (Kent)
Each of the awards will be administered by the MEDC with contracts that establish conditions and mileposts for receipt of funds. Contracts, individually tailored to each proposal, will be finalized by the MEDC’s general counsel in consultation with the Michigan attorney general. The MEDC employs portfolio managers, similar to those of venture capital operations, who will oversee the progress of the projects. Award funding will be paid out incrementally as project milestones established in the proposal and contract are achieved.
