The $77 million investment in Ablative Solutions Inc. ranks as the largest known venture capital deal ever in Michigan, possibly helping draw more attention to the state’s life sciences research and development.
The amount of venture capital invested in biotech and health care startups based in Michigan nearly doubled in 2017.
Michigan ranked third among 11 Midwest regions for the value of equity investments made in life sciences companies during the first half of 2017.
GRAND RAPIDS — By creating a $100 million venture capital arm, Spectrum Health joins the ranks of U.S. health systems that invest money in companies developing new ways to treat patients and maintain health.
As Michigan life sciences companies grow and seek to commercialize their innovations, the firms often face key constraints when it comes to access to capital in the state.
While West Michigan may lack the depth of resources and talent that some regions of the country possess when it comes to the medical device industry, it may have one key advantage: the affordability of its contract manufacturing.
The availability of scientific and executive management talent and the access to later-stage investment capital remain major issues for Michigan’s life sciences industry.
At some point in the coming months, Mark Gurney and directors at Tetra Discovery Partners LLC will decide which road to travel into the future for their company.
GRAND RAPIDS — The managers of Michigan Accelerator Fund I are seeking to raise up to $5 million from investors to provide further financial backing to portfolio companies.