A drug developer rooted in Southwest Michigan and backed by investors across the region may pursue an initial public stock offering that could net up to $86.2 million to support further development and commercialization.
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.
In securing a $40 million investment, Cirius Therapeutics Inc. illustrates a fundamental change that occurred in Michigan’s venture capital sector over the last decade.
KALAMAZOO — A $40 million venture capital investment in a company spun out of a Kalamazoo-based drug development firm comes with a new executive management team based across the country.
A company that spun out early last year from a Kalamazoo drug developer plans to move its office to San Diego, Calif. after securing $40 million in new venture capital funding.
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.
KALAMAZOO — Life sciences startup Innovative Cardiovascular Solutions LLC of Kalamazoo netted $1.4 million so far in a push to raise up to $7 million in Series B capital.