ANN ARBOR - Molecular Imaging Inc. has closed its Series A financing round, originally targeted for $8.5 million, at $9.9 million. The company said it secured a $2.5 million investment from Beringea, Michigan?s largest venture capital fund, through the $185 million InvestMichigan Growth Capital Fund ? plus another $350,000 from existing shareholders Baird Venture Partners
YPSILANTI - Integrated Sensing Systems and the University of Michigan announced that they have received a $1.5 million National Institute of Health grant to develop a wireless, implantable pressure sensor for congenital heart disease. ?This pressure sensing implant has the potential to greatly improve the care we provide to our most complex patients and will
ANN ARBOR ? Health-care spending in the U.S. in 2011 grew at one of the slowest rates in 50 years, a new study shows. Altarum?s reports provide the first look at full-year 2011, showing health spending at $2.71 trillion. Spending was up 4.4 percent from 2010?the third slowest rate of growth since national health expenditures
GRAND RAPIDS - A recent discovery by Van Andel Research Institute scientists enables the prediction of patient sensitivity to proposed drug therapies for glioblastoma ? the most common and most aggressive malignant brain tumor in humans. The study, published in January in the Proceedings of the National Academy of Science, investigated glioblastoma models characterized by
KALAMAZOO ? Michigan Economic Development Corp. executive Stephen Haakenson has been named executive director of Western Michigan University's Biosciences Research and Commercialization Center, effective Feb. 6. Since 2006, Haakenson has been a program portfolio manager for the MEDC responsible for managing state investments in Michigan start-up companies. "Over the past eight years, the BRCC has
CLEVELAND - Midwest health care companies attracted $810 Million in new investments across 178 companies in 2011 according to the BioEnterprise Midwest Health Care Venture Investment Report. Sixteen Michigan companies received $30.8 million in investments, ranking the Wolverine state 7th out of 11 surveyed. The total dollars attracted is up by ten percent from 2010;
DETROIT - Howard W.T. Matthew, Ph.D., professor of chemical engineering, materials science and biomedical engineering at Wayne State University, is one of 107 new members elected to the College of Fellows of the American Institute for Medical and Biological Engineering. The Detroit resident's election was based on what institute officials said are seminal contributions to
GRAND RAPIDS - A recent Van Andel Research Institute study published in the journal Science investigating the molecular structure and function of an essential plant hormone could profoundly change our understanding of a key cell process, and might ultimately lead to the development of new drugs for a variety of diseases. The study builds on
LANSING - The contentious debate in 2009 over the federal health care law was revisited Thursday morning at the Capitol as residents from around the state argued over the constitutionality of "Obamacare" and the implications of creating a mandated health exchange in Michigan. The House Health Policy Committee took three hours of testimony on creation
ANN ARBOR - CytoPherx announced it has closed a $34 million funding round that will be used to complete U.S. clinical trials and gain FDA approved for the anti-inflammatory therapy for acute kidney injury. A large syndicate of investors co-led by Early Stage Partners, Onset Ventures and Capital Midwest Fund, participated in the round. Dr.