Press

The humble cell has been getting a lot of attention in the medical world lately, and Ann Arbor, MI-based biotech startup Celsee wants to make it easier to study them.

As precision medicine and genomic analysis become more sophisticated, clinicians are taking biotech research down to the level of single cells in search of breakthroughs that might not be visible when studying a large population of cells or tissues.

Researchers say much can be gleaned about the progression of diseases like cancer and potential treatments by studying individual cells. By accessing a cell’s genomic or proteomic content and examining cell cycles, scientists can find critical information that can lead to a more complete understanding of disease progression or treatment response, Celsee says. In order to do that, researchers need the cells to be intact and viable, but some methods of cellular manipulation and analysis can damage them.

Over the past few years, a number of methods relying on isolating cells and cell sorting have been used to successfully analyze genomic data from bulk samples, but these methods can miss contextual information regarding a cell’s behavior.

To overcome those challenges, Celsee has developed a patented technology called Genesis that uses a gravity-based method to find and isolate individual cells while maintaining their viability and structural integrity, says CEO John Stark. It does this by eliminating fluidics or droplet encapsulation that can cause cellular stress. The platform can be used with blood and tissue samples, and he says it’

Oils, pastes, gels and emulsions – traditional machining fluids come in many forms. But they all have something in common in that they pose a risk to worker health and the environment. Steve Skerlos of Seco Tools’ new partner Fusion Coolant Systems has come up with a sound alternative.

THE DEVELOPMENT of cutting tools that shape, drill, grind and plane metals has made modern manufacturing possible. But the progress that these tools have helped achieve would not have been possible without machining fluids for cooling, lubrication and chip evacuation. The list of materials used as machining fluids is long and includes oil, pastes and gels, emulsions and synthetics, to name a few. But their use comes with a few problems.

Steve Skerlos knows this better than anyone. A world-renowned expert in machining fluids, he is a tenured professor of mechanical engineering at the University of Michigan in the US, Director of the Center for Socially Engaged Design in the university’s College of Engineering, and Founder and Chairman of the Board of Fusion Coolant Systems, Seco Tools’ new partner.

Skerlos has seen the problems of traditional machining fluids firsthand, having worked with emulsions as a PhD student for five years. “These fluids made me and the machining colleagues I got to know over time suffer a variety of health problems,” he says. “The health risks to workers exposed to traditional machining fluids have been known for decades. It’s an antiquated way of doing things.” The fluids themselves are a &l

HOLLAND, Mich., Nov. 5, 2018 /PRNewswire/ — Shoulder Innovations announced today that they have received FDA clearance for their InSet Humeral Short Stem System. This is a key addition to their expanding shoulder portfolio and another milestone for their vision to offer a complete leading technology shoulder arthroplasty product line.

The clearance covers products used for partial or total shoulder arthroplasty used in the treatment of degenerative, rheumatoid or traumatic arthritis in the shoulder. The new InSet Shoulder system provides innovative features and solutions to address potential problems encountered with current total shoulder replacement systems.

Peter Johnston, M.D. of Southern Maryland Orthopaedic and Sports Medicine said, “The strengths of the InSet Shoulder System are its streamlined instrumentation, proprietary coating technology for implant fixation with bone preservation and ability to reproduce native humeral anatomy. The system is game-changing.”

Robert Tashjian, M.D. of the University of Utah added, “The combination of the InSet Humeral Stem and Shoulder Innovation’s unique InSet glenoid implant affords a surgically simple, bone sparing option for many types of humeral or glenoid deformities associated with arthritis.”

Rob Ball, Executive Chairman of Shoulder Innovations said, “We are excited to see the fast-paced progress and results made by the team. Genesis Innovation Group has moved rapidly in developing this highly innovative new product line. It plays a pivotal role in the Shoulder Innovations strategy, and Genesis

LANSING — Black Pine Engineering, a manufacturer of advanced compressor engines, has been accepted into the Proto Accelerator phyiscal product program run by the capital region’s economic development agency, the Lansing Economic Area Partnership.

Black Pine will receive investment and comprehensive business guidance through the Proto program.

Zack Hoyle, CEO of Black Pine, says Proto’s access to and assistance with prototyping will help fine tune engine design and find new market opportunities.

“LEAP’s Proto Accelerator investment allows us to complete our prototype and test it on potential customer sites, gathering the data needed to get to first sales while also identifying other promising applications including low-cost turbines for power generation and electric turbo props for next generation aircraft,” Hoyle said.

Black Pine’s compressor contains several innovations, including MSU-licensed technology, which allows Black Pine to produce a smaller, more efficient and lightweight turbine. The company anticipates it will be used in numerous industries such as oil and gas, along with other industrial and commercial applications, including boiler and kiln feed, central vacuum, pneumatic conveying, wastewater aeration, and more.

Joe Carr, Proto vice president, emphasized the competitive startup landscape in the region and the opportunity Proto Accelerator offers startup companies as they seek to innovate.

“Black Pine Engineering is representative of the talent and innovation that calls Lansing home,” Carr said. “Proto

At the Seco ‘Inspiration Through Innovation 2017 event’ Scott from Fusion Cooling Systems explains how their process works and the benefits to using this method. Also the partnership between them and Willemin-Macodel and especially on the new 508S2 high speed machine shown at the event. Kyal Machine Tools are distributors for Willemin-Macodel in the UK.

NEW YORK (GenomeWeb) – Genomenon and GenomOncology announced today that they have formed a partnership to incorporate Genomenon’s Mastermind search engine into GenomOncology’s Molecular Tumor Board software, in order to help oncologists make more informed clinical decisions.

Cleveland-based GenomOncology will use the Mastermind search capability to deliver the most current genomic research to oncologists as they review next-generation sequencing panels. This will help clinicians easily determine if there is any relevant literature related to each patient’s specific mutation, the firm said. The latest version of Mastermind, released in September, indexes approximately 500,000 new genomic variants from supplemental data found in scientific publications.

“Precision medicine is about putting the best tools, information, and knowledge about the patient’s tumor into the hands of the experts to provide the best medical treatment for cancer patients,” Genomenon CEO Mike Klein said in a statement.

“We know oncologists need to make timely decisions for patients, but are extremely pressed for time and overwhelmed with the amount of information out there. Providing them tools to make that easier is critical, especially as the field of oncology continues to change rapidly,” added GenomOncology Founder and CEO Manuel Glynias. “Integrating Genomenon’s Mastermind is one of the ways we are doing this.”.

Less than two weeks ago, Ann Arbor, Michigan-based Genomenon signed a deal with Fabric Genomics to integrate their respective genomic interpretation technologie

Over $6 million awarded in funding extensions; greater access to funding, services and support for university researchers

LANSING, Mich. – October 23, 2018 – Targeting high-tech Michigan start-up companies and innovative technologies at the university level, the Michigan Strategic Fund (MSF), administered by the Michigan Economic Development Corporation (MEDC), approved funding extensions and amended guidelines of programs designed to create greater access to support for technologies to reach the commercial market. This includes the creation of a Michigan Translational Research and Commercialization (MTRAC) Statewide Innovation Hub for Advanced Computing Technologies, which will provide substantial economic growth opportunities for the state of Michigan.

Funding and amended guidelines approved by MSF include:

Invest Michigan Pre-Seed II Fund ($3,000,000)

Technology Transfer Talent Network (T3N) ($1,175,000) Michigan Corporate Relations Network (MCRN) ($1,310,000) Addition of MTRAC Statewide Innovation Hub for Advanced Computing technologies Converting the university match investment required for MTRAC Innovation Hub technologies to a tier structure

“To support the growth of high-tech startups and companies throughout the state, we have to go where the talent is, and the amendments to the MTRAC program, in tandem with continued investment in the T3N and MCRN programs, is how we can support the great talent we have at our universities, assisting them to get their research into the commercial market,” said Fred Molnar, vice president o

Innovation unlocks previously inaccessible cellular information and makes more experiments feasible in proteogenomics, immune monitoring, and single-cell genomics

ANN ARBOR, Mich.—(BUSINESS WIRE)—Celsee, Inc., today launched its first product, the Genesis system, designed to overcome the limitations of other tools for single-cell analysis. The Genesis system provides a robust, scalable, and flexible way for scientists to analyze and interpret cellular behavior and collect critical cell-based information that was previously undetectable. Initial applications include proteogenomics; immune monitoring as an alternative to flow cytometry; and expansion and scale of next-generation sequencing library preparation.

The importance of analyzing individual cells, rather than relying on bulk populations or tissue-based assessment, is now well understood in fields such as oncology, stem cell research, and immunology. For many medical conditions, the cell is the fundamental unit from which to determine disease onset, progression, and potential treatment matches. Access to the genomic or proteomic content in a cell, as well as to cell cycle or state, can provide critical information that can drive a more complete understanding of disease progression and potential response to treatment. In order to obtain the most meaningful information, scientists need intact and viable cells that have not been damaged by harsh cellular analysis and manipulation processes.

“Commonly used single-cell analysis technologies lack the capture efficiency, cell viability, and reproducib

HOLLAND, Mich., Oct. 22, 2018 /PRNewswire/ — Shoulder Innovations, an emerging leader in the development of shoulder replacement systems, announced today it has closed a $2.5 million round of Series A equity funding led by Ann Arbor-based Michigan Angel Fund, Grand Rapids-based Wakestream Ventures, Genesis Innovation Group, cultivate(MD) and other equity holders.

“It is impressive that the team at Shoulder Innovations has developed truly cutting-edge and disruptive products in the orthopedic space, and they have done so in a capital efficient manner, which we love to see,” said Skip Simms, Managing Director Michigan Angel Fund.

More than 100,000 patients receive shoulder replacement surgery each year, with demand increasing ten percent annually. An increasing prevalence of shoulder arthritis, combined with the aging Baby Boomer population is driving the growth of the global shoulder arthroplasty market, which is valued at more than $1 billion and is expected to double by 2023.

Shoulder Innovations is positioned advantageously within the market with a straightforward surgical technique, highly stable implant, and streamlined instrumentation, which provides opportunity for improved operating room performance.

The $2.5 million investment will be used to fuel new product development, and to acquire inventory and assets to accelerate growth of its current Inset platform technology, which serves as a foundational platform on which many future products and systems are in development. The long-term vision of Shoulder Innovations is to offer a complete

ANN ARBOR, MICHIGAN - 10/19/2018 (PRESS RELEASE JET)

Mastermind Genomic Search Engine Allows Rare Genomics Team to More Quickly Analyze Patient Data for Diagnosing Rare Diseases.

Genomenon announced today that they will donate Mastermind Genomic Search Engine licenses to the entire team of clinical scientists at Rare Genomics Institute to accelerate their work for patients with rare diseases.

Rare Genomics Institute (RG) is a nonprofit (EIN: 45-3624709) organization that has been at the forefront of providing direct support to undiagnosed rare disease patients and their families since 2011. RG helps patients find a diagnosis, treatment, and cure by connecting them to expert scientists and biomedical researchers who have access to the most advanced technologies to diagnose and accelerate research.

Genomenon’s Mastermind Genomic Search Engine powers evidence-based precision medicine by connecting patient DNA with the scientific research required to diagnose and treat cancer and rare diseases. Mastermind has the world’s largest index of medical articles cataloguing the genetic relationships between DNA and human diseases.

The Rare Genomics team will be able to use the professional edition of Mastermind to more quickly find evidence that can lead to a diagnosis for their patients, many of whom have previously gone undiagnosed by multiple specialists.

“For the last 8 years, we have helped hundreds of rare disease patients with genomic sequencing and analysis. We strive to use the best software applications to analyze and interpret p

Partnership will improve access to critical literature content and accelerate patient diagnosis

OAKLAND, Calif. & ANN ARBOR, Mich.—(BUSINESS WIRE)—Fabric Genomics™, a global leader in clinical interpretation of genomic data, and Genomenon®, the leading genomic data search company, announced today that they have entered into a partnership with the goal of further strengthening clinical genomic interpretation and variant classification.

Fabric Genomics speeds and scales genomic interpretation by combining the most advanced AI algorithms with automated workflows, while Genomenon’s literature search engine facilitates comprehensive literature review, which is advantageous for accurate interpretation. The companies have entered into an agreement to integrate and co-market their solutions, announced today during the American Society of Human Genetics conference in San Diego.

Hospitals and labs are able to maximize their diagnostic yield and optimize turnaround time by using the Fabric Enterprise™ analysis platform offered by Fabric Genomics. Starting with raw-sequence data from whole genome, exome or targeted panels, the platform provides efficient workflows for analyzing, interpreting and signing off physician-ready reports. Fabric Enterprise’s intuitive automated scoring and classification system allows easy adoption of American College of Medical Genetics (ACMG) standards and accelerates interpretation with a step-wise, guided assessment of each ACMG criterion.

When clinical laboratory scientists come upon a variant that is not easily

NEW YORK (GenomeWeb) – Parabricks, a startup maker of software for next-generation sequencing analysis, has won an approximately $750,000 Phase II Small Business Innovation Research grant from the National Science Foundation to advance R&D on secondary genomic analysis.

The Michigan Emerging Technologies Fund added $125,000 on top of that to help the Ann Arbor, Michigan-based company commercialize its technology.

The SBIR grant will enable Parabricks to build out its graphics processing unit-based software in the hopes of creating an end-to-end platform for researchers and clinicians alike, the company said today. Parabricks hopes to reduce NGS secondary data analysis processing time to less than an hour using the Broad Institute’s GATK4 pipeline.

“This award will significantly advance Parabricks’ efforts to … commercialize a very rich set of software solutions for research organizations, academic institutions, pharmaceutical companies, clinicians, and others who need fast, cost effective, and accurate genomic data processing, both on-premise and in the cloud,” CEO and Cofounder Mehrzad Samadi said in a statement.

Earlier this year, Parabricks partnered with DDN Storage to introduce a jointly integrated GPU and storage platform to speed up human genome analysis. At the time, the companies said that the offering could analyze 1,500 genomes per week, accelerating precision medicine workflows by 100x.

https://www.genomeweb.com/informatics/parabricks-lands-750k-sbir-grant-develop-secondary-ngs-analysis-platform#.W8DfxxNKi3U

Grand Rapids, MI (October 11, 2018): Tetra Discovery Partners today announced that the U.S. Patent and Trademark Office has issued a third patent covering the company’s selective phosphodiesterase-4D (PDE4D) inhibitor, BPN 14770, and related compounds. The new patent, US 10,093,686, covers claims for the use such compounds in the treatment of mild cognitive impairment, Parkinson’s disease, stroke and ischemia. “This new patent further builds on the intellectual property protections for our lead compound, adding to the previously issued patents covering BPN 14770’s composition and use in the treatment of Alzheimer’s disease,” said Mark Gurney, Ph.D., Chairman and Chief Executive Officer of Tetra. “We believe this compound has the potential to benefit the lives of many patients with cognitive disorders, Alzheimer’s disease, and related illnesses.” “We are pleased to add this patent to the growing Worldwide IP portfolio covering this exciting new compound,” said Chad Coberly, JD, Senior Vice President, Clinical, Regulatory & Legal Affairs at Tetra. “Related patents have now issued in Japan, China, and Israel and prosecution continues in Europe and in several other potentially significant markets for the new therapy.”About BPN14770 BPN14770 is a novel therapeutic agent that selectively inhibits phosphodiesterase-4D (PDE4D) to enhance early and late stages of memory formation. This unique mechanism of action has the potential to improve cognitive and memory function in devastating disorders including Fragile X Syndrome, Alzheimer’s disease and ot

The University of Michigan spinout is undergoing aggressive business expansion to accommodate substantial customer orders and sales growth.

Canton, Michigan, October 4, 2018 - Fusion Coolant Systems, today announced that is has raised $8 million Series C financing led by Material Impact, a Boston-based venture capital firm and Michigan Capital Advisors, a Michigan private equity firm. The round was also strongly supported by existing investors including MINTS- Michigan Investment in New Technology Startups, Amherst Fund and Invest Michigan. The capital will be used to grow the company’s staff, operations, equipment and personnel.

Fusion Coolant Systems has commercialized a patented disruptive technology that uses supercritical CO2 as a cutting fluid to reduce the costs of manufacturing in large sectors such as medical, aerospace, and automotive.

Founder Steven Skerlos, Arthur F. Thurnau Professor of Mechanical Engineering at the University of Michigan explained, “Our team has broken into some of the world’s industry leading manufacturers, proving that the technology improves the profitability of material removal operations while eliminating health and environmental hazards.”

“The addition of new investment firms, Material Impact and Michigan Capital Advisors, with their wealth of experience and profound domain expertise, is confirmation of the company’s progress during the last several years and a testament to its current business strategy and future prospects,” stated Rafael Castilla, director of investments, at the University of M

University of Michigan SaaS technology startup reaches key milestones

ANN ARBOR, Mich – August 13, 2018 – Peter Falzon, a Silicon Valley life sciences industry veteran, has been named as President and CEO by Ripple Science Corporation , a 2017 University of Michigan technology startup that creates transformational clinical trial participant recruitment and management software. Peter joins Ripple Science at a critical juncture into the company’s product market launch where the company has met key milestones and is raising new capital to fund its growth plan.

Founders Nestor Lopez-Duran PhD and Jacob Bonenberger will remain co-chairs of Ripple Science’s Board of Directors and continue to support the day-to-day operations of the business, especially with respect to technology and product development. “I am extremely proud of the work the Ripple Science team has done since our launch last year” commented co-founder Dr. Lopez-Duran, who came to know Falzon through the U-M Tech Transfer Mentor-in-Residence program, which makes executives with relevant startup experience available to emerging startup teams. “We grew faster than we imagined and we are now ready for Peter to lead the company into a new phase. His experience in life sciences and his skills growing small teams into mature companies will be a great asset to Ripple and our customers.”

“I am excited to join the team at Ripple Science at a time when the company has strong market validation with more than $100k in ARR from over 50 customers

Two state-backed investment funds partner to support the launch of ground-breaking real-time predictive analytic medical company, Fifth Eye Inc.

Ann Arbor, Mich. (July 31, 2018) – Medical professionals will soon have access to real-time predictive analytic patient data software to give doctors and nurses a heads up hours in advance about impending trouble ranging from internal bleeding to respiratory issues to sepsis for in-hospital patients. Invest Michigan and the Biosciences Research and Commercialization Center (BRCC) have partnered with angel investors to raise $2.36 million to support the launch of Fifth Eye Inc., a digital health predictive analytics company based in Ann Arbor.

“The mission of Invest Michigan is to invest in the commercialization efforts of high-tech companies and talented entrepreneurs with innovative technologies aimed at bringing their products to market,” said Charlie Moret, Invest Michigan president and CEO. “Partnering with the BRCC and angel investors to support the launch of Fifth Eye and bringing its life-saving software solution one step closer to being in the hands of doctors, nurses and all medical professionals is a great example of a successful collaboration between Michigan resources, talent and technology.”

Detroit-based Invest Michigan, established in 2014 to serve as the fund manager for the Michigan Pre-Seed Fund II, is funded by the Michigan Economic Development Corporation (MEDC).

GRAND RAPIDS, Mich.—(BUSINESS WIRE)—Tetra Discovery Partners today announced the initiation of a Phase 2 study of BPN14770 as a potential treatment for Fragile X Syndrome, the most common genetic form of autism. A selective small molecule inhibitor of the phosphodiesterase type-4D (PDE4D) subtype, BPN14770 has shown the ability to improve the quality of connections between neurons and to improve multiple behavioral outcomes in the Fragile X mouse model. BPN14770 has also received Orphan Drug Designation from the U.S. Food and Drug Agency for the treatment of Fragile X Syndrome. The study, a randomized, double-blind, placebo-controlled study including two 12-week crossover periods, is being conducted in 30 adult males (ages 18 - 45 years). Endpoints for the study include preliminary cognitive and behavioral assessments of the efficacy of BPN14770 by a variety of standard tests and determinations of the experimental drug’s safety and tolerability. The study will also gather pharmacokinetic and biomarker data on BPN14770. The study is being conducted at Rush University Medical Center, Chicago, Illinois by principal investigator Elizabeth M. Berry-Kravis, M.D., Ph.D. with financial support from the FRAXA Research Foundation. Additional information is available through clinicaltrials.gov (Identifier: NCT03569631).

“BPN14770 targets a basic biochemical change in how the connections between cells in the brain mature in patients with Fragile X Syndrome,” said Mark E. Gurney, Ph.D., Chairman and Chief Executive Officer of Tetra Discovery Partners. “We look forward to

Two Ann Arbor biotech companies provide translational researchers a faster, more comprehensive way to design Accel-Amplicon panels for variant discovery and screening studies

ANN ARBOR, Michigan – May 23, 2018 – Swift Biosciences—the NGS Library Prep company—and Genomenon—the leading genomic literature search engine company— announced today a new partnership to revolutionize the design of targeted gene sequencing panels for precision medicine initiatives.

Genomenon and Swift will co-market solutions in an integrated offering to make it easier to construct, validate and implement custom NGS assays as a follow-up to whole genome or exome sequencing studies, and dive deep into specific biological pathways. Together, these companies will empower researchers to quickly identify and elucidate mechanisms underlying genetic disease through a targeted sequencing approach, without the need for deep expertise in target curation and prior NGS panel development experience.

“Identifying biomarkers and designing targeted gene sequencing panels has traditionally been a time-consuming process” said Mike Klein, CEO of Genomenon. “Researchers can significantly shorten their experiment cycle times by working with Genomenon and Swift to select and design their targeted sequencing panels.”

Genomenon identifies biomarker targets associated with diseases by applying automated machine learning algorithms to its Mastermind Genomic Search Engine to objectively correlate genes and genetic variants with the quality and frequency of citations from the sc

Genomenon Partners with Rhythm Pharmaceuticals to Identify Genomic Mutations Associated with Monogenic Forms of Obesity in the Scientific Literature

ANN ARBOR, MICHIGAN - April 24 2018 - Genomenon, the leading genomic data search company, today announced a partnership with Rhythm Pharmaceuticals (NASDAQ: RYTM), a biopharmaceutical company aimed at developing and commercializing therapies for the treatment of rare genetic disorders of obesity, to create a database of genetic mutations associated with obesity as documented in the medical literature.

Through the partnership, Genomenon deployed the Mastermind Genomic Search Engine to develop a database of genes and variants associated with obesity, including a list of clinically relevant citations for every disease-variant association found in the medical literature. This evidence-based view of the genetic factors contributing to obesity will be used by Rhythm to inform their understanding of rare genetic disorders of obesity.

Mastermind is the world’s first genomic search engine that connects genomic data with evidence from the scientific literature. Using Genomic Language Processing (GLP) and automated machine learning techniques, Genomenon’s bioinformaticians were able to mine documented disease-mutation associations from millions of scientific articles. Genomenon’s team of scientists reviewed the data for final approval.

The biomarker database of over 10,000 mutations in 120 genes associated with obesity was developed in less than 60 days, including scientific evidence complete with literatu

Ann Arbor-based biotech company, Akadeum Life Sciences, has demonstrated its groundbreaking microbubble technology in human and mouse tissue—allowing for fast, easy removal of target cells.

ANN ARBOR, MICHIGAN – APRIL 13, 2018

Akadeum Life Sciences, Inc. announced today it has successfully demonstrated use of microbubbles for isolation of human T-cells and mouse B-cells. As a result, the company is also announcing that it is running a closed beta testing program with key thought leaders in immunology, cancer, and stem cell research.

Additionally, Akadeum scientists will be presenting data on using microbubbles to deplete red blood cells in liquid biopsy samples at AACR (American Association of Cancer Research).

Coauthors of the research presented at AACR include Steve McClellan, BS, MT (ASCP) of the University of South Alabama Mitchell Cancer Institute; Ebrahim Azizi, PharmD, PhD; and Max Wicha, MD of the University of Michigan. These experts in cancer biology study circulating tumor cells, which are cancer cells that travel freely through the bloodstream. Much of their effort and time are directed toward the challenge of isolating these very rare and important cells from patients’ blood.

In order to examine circulating tumor cells for research or medical care, cancer specialists must first sift through tremendous numbers of normal cells. It is common for normal cells to outnumber cancer cells in patient blood samples by a billion to one. Although this is challenging, isolating circulating tumor cells has the potential to improve curre

Grand Rapids, MI (April 3, 2018): Tetra Discovery Partners today announced that the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation for BPN14770 for the treatment of Fragile X Syndrome. BPN14770 is a selective small molecule inhibitor of the phosphodiesterase type-4D (PDE4D) subtype. Research conducted collaboratively with the FRAXA Research Foundation has shown BPN14770 to improve the quality of connections between neurons and to improve multiple behavioral outcomes in the Fragile X mouse model.

“We are very pleased that FDA has recognized the potential benefit of BPN14770 in the treatment of Fragile X Syndrome, a genetic disorder for which there is neither a cure nor any approved therapy,” said Mark E. Gurney, Ph.D., Chairman and Chief Executive Officer of Tetra Discovery Partners. “BPN14770, which has potential to improve cognitive and memory function in a variety of devastating brain disorders, addresses one of the biochemical dysfunctions involved in Fragile X Syndrome and possibly other autism spectrum disorders.”

Tetra Discovery Partners is preparing to initiate a Phase 2 clinical study of BPN14770 in Fragile X Syndrome with support from the FRAXA Research Foundation during Q2 2018.

About Orphan Drug Designation

The FDA grants Orphan Drug Designation to novel drugs or biologics that treat rare diseases or conditions affecting fewer than 200,000 patients in the United States. The designation allows the sponsor of the drug to be eligible for a seven-year period of U.S. marketing exclusivity on approval of t

Companies Collaborate to Aggressively Reduce the Time and Cost of Variant Interpretation to Further Scale Global Adoption of Whole Genome Sequencing

ANN ARBOR, MICHIGAN - April 3, 2018 - Genomenon, the leader in genomic data search capabilities and developer of Mastermind is partnering with Veritas, The Genome Company and first company to break the $1k genome barrier, to address the single most critical hurdle to realize the promise of genomic medicine.

While sequencing technology has become less and less expensive and the $1k genome is now a reality, technical advances have also catalyzed an explosion of genomic data. The single most critical hurdle to scale adoption of whole genome sequencing globally, is not the cost of sequencing any more; it is being able to interpret results efficiently at scale driving cost for consumers further down.

Two specific issues are holding back the whole genomic industry: Identification and prioritization of relevant literature to ensure proper variant classification efficiently and at scale; and an efficient way to alert and update variant classifications as new knowledge arises. Genomenon and Veritas are partnering to tackle both of these issues.

As part of this partnership, the two companies: 1. Will collaborate to develop the next generation literature prioritization engine through proprietary genomic language processing (GLP), machine learning (ML), and artificial intelligence (AI) tools following the American College of Medical Genetics (ACMG) and Association for Medical Pathology (AMP) variant classificatio

Detroit-based transit service startup Splitting Fares Inc., better known as SPLT, has been acquired by Germany’s Robert Bosch GmbH.

Terms of the deal, which was announced Wednesday, were not disclosed.

Splitting Fares will be an independent entity under Bosch as a wholly owned subsidiary. CEO Anya Babbitt and SPLT’s management team will remain in place under Bosch.

“I wouldn’t say that it’s totally hands off, but there is a deep respect and understanding (from Bosch) that not only the team needs to be intact — because no one knows this business like we do — to succeed,” Babbitt said in a phone call from Germany where she signed the deal. “They understand that why SPLT is successful is not the technology, it’s the people.”

Babbitt said her company’s board, of which she’s a member, turned down several acquisition offers in the past before agreeing to Bosch.

The company, which lets employers set up app-based ride-sharing programs for their employees, moved its headquarters to Detroit from New York City as part of the TechStars Mobility startup accelerator and landed its first major customer, Detroit-based DTE Energy Co., in 2015.

Since, it’s expanded to several countries and several customers, including Bosch, Magna International and Honda. In fact, its work with Bosch in Mexico in 2016 led to the auto supplier’s pursuit of the startup, Babbitt said.

Employing 25 in Detroit, California, Germany, London and Mexico, SPLT is expected to expand into new markets and new software, Babbitt said.

“We’re differentiating; we’re not

Detroit fintech company to double head count, open office in Austin

Detroit-based Autobooks LLC, a financial technology company that provides online invoicing, payment and accounting software for the business customers of banks and credit unions, has raised a venture capital funding round of $10 million.

Autobooks licenses its technology to financial institutions, which then make a profit by offering it to their customers. CEO Steve Robert said the company will use the funding to improve the software to meet the needs of larger banks, double its headcount over the next 12-18 months and open an office in Austin, Texas.

This funding round follows a $5.5 million round the company raised last March.

This new round includes Pittsburgh-based Draper Triangle, Chicago-based Baird Capital, Detroit Venture Partners, Detroit-based Invest Michigan and Livonia-based CU Solutions Group, a credit union service organization that is majority owned by the Lansing-based Michigan Credit Union League.

Those investors participated in the first round, too.

“I’m thrilled we were able to secure follow-on funding from all our previous investors. It’s an indication they’re satisfied with our momentum in the market,” Robert told Crain’s.

Last May, Autobooks moved its headquarters from Troy to the Madison Building in downtown Detroit, home to many of Detroit Venture Partners’ portfolio companies. Robert said the company added 12 employees in 2017 and now employs 17.

“We’ve about exhausted the space we have in the Madison Building. We’re very committed

Xconomy Detroit/Ann Arbor — Invest Michigan, the Detroit-based early-stage capital fund, had an eventful 2017 and is off to a busy start already in 2018. We caught up with CEO Charlie Moret for an update and to find out what’s ahead for the fund in the coming year.

Invest Michigan, established in 2014 by the Michigan Economic Development Corporation, recently completed its 75th investment. The fund has invested in 44 companies across the state so far, and has made 31 follow-on investments.

“Michigan’s entrepreneurial sector is very active,” Moret says. “Last year was a record, with 26 investments.”

Invest Michigan now has 38 active companies in its portfolio, and Moret says the fund’s current strategy largely involves providing its portfolio companies more financial support as they make commercial progress. (Portfolio companies, all headquartered in Michigan, include a wide variety of tech startups across a mix of sectors, including life sciences, ag tech, and medical devices.)

“We try to invest in the best teams and technologies, but until you’re in the trenches, it’s hard to know which will hit. So we have to maintain capital reserves to continue to fund them since angel investors don’t usually do a lot of follow-on investing, and that’s proven to be a very effective way to support these companies.”

So far this year, Invest Michigan has closed two deals with undisclosed terms: A new investment in Mi Padrino, an online portal for planning events such as quinceaneras, and a follow-on investment in Autobooks, a fin