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Invest Michigan backs early-stage tech firms

Tuesday, November 25, 2014   (0 Comments)
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From Crain's Detroit Business


Invest Michigan announced it has invested a total of $275,000 in four early-stage technology companies. 

The investments are through the Michigan Pre-Seed Fund 2.0, a statewide investment fund of $6.8 million aimed at supporting high-tech early-stage companies. Funded companies also secured co-investments from private sources totaling $3.5 million, far exceeding the minimum of 1:1 in matching funds. 

The companies receiving funding include AdAdaptedDenovo Sciences Inc.A2B Bikeshare and Tetra Discovery Partners.

AdAdapted is an Ann Arbor-based technology company that works with mobile applications to provide relevant content to the user, helping advertisers reach their audience more effectively. 

At Plymouth-based Denovo, a life science/medical device company, the funds will help the company continue to provide clinical research centers with innovative automated technology diagnostics platforms for cancer monitoring and therapy selections using blood as opposed to surgical biopsies. 

A2B Bikeshare is a transportation startup in Ann Arbor that helps make bike sharing more accessible and affordable. 

At Grand Rapids-based Tetra Discovery Partners, a life science leader in chemical design of inhibitors of phosphodiesterase enzymes, the funds will be used to accelerate entry of the first cognition drug developed by Tetra into human clinical trials.


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