GRAND RAPIDS — A $40 million investment by a Japanese pharmaceutical company provides Tetra Discovery Partners Inc. a strategic partner and capital to test and commercialize a new drug compound that could treat Alzheimer’s disease and a form of autism.
If Mark Gurney can’t find the capital he needs in Michigan, his drug development firm is poised to look for it elsewhere.
Venture capital investors say work over more than a decade to spur greater innovation and build a better entrepreneurial climate in Michigan has provided them with better investment prospects.
Here is the MiBiz Growth Report for Dec. 12, 2016:
• M&A: Blue Wolf Capital Partners LLC, a New York-based private equity firm, has acquired the North American operations of New Zealand-based Tenon Limited. The company will be based in Grand Rapids and operate under a new name, Novo Building Products LLC. Novo is a manufacturer and distributor of speciality building products. Terms of the deal were not disclosed.
Tim Parker wasn’t actively looking for a new opportunity when he came across a LinkedIn posting that intrigued him.
Drug developer Tetra Discovery Partners LLC said it’s closed on $5 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.
Four of the top five investments by venture capital firms in the state went to West Michigan companies in the third quarter.
An experimental drug under development by Tetra Discovery Partners LLC has the potential to treat traumatic brain injury, according to the results of a pre-clinical trial.