Ann Arbor, MI, 11/18/2015
Clinical research tool development start-up, PHASIQ, Inc, earned an additional $50,000 in commercialization funding. PHASIQ, started in 2012, is developing a highly accurate protein test platform invented at the University of Michigan.
Today, the Innovation Fund Macomb Community College, Powered by JP Morgan Chase & Co. announced its investment of $50,000 in PHASIQ. This fund made investments in five of twenty-seven companies which applied. This Innovation Fund award is the second round in a $2 million economic development and job growth pledge to invest in high growth potential emerging companies.
According to Macomb Community College’s Director of Media Relations, Jeanne Nicol, this award is “designed to advance the progress of emerging companies toward larger-scale funding. These companies must provide matching funds and commit to paying back the award.”
PHASIQ is led by CEO Francis Glorie, founder and CSO Shuichi Takayama, Ph.D., and CFO James Vincke. Glorie pitched the Innovation Fund in August, 2015. “The Innovation Fund investment shows confidence in our technology, our team, and our commercialization plan. This award also helps us get matching grants from the Michigan Economic Development Corporation’s Emerging Technologies Fund. This will help us further our plan and bring additional investment to southeastern Michigan.”
PHASIQ founder Shuichi Takayama shared “Since joining to lead the team in the spring, Francis Glorie has sparked additional investor interest and successfully raised funds for our commercialization. We are excited to bring our new products to market in early 2016.” Earlier this fall, the University of Michigan’s Ross School of Business student-led Zell Lurie Commercialization Fund invested $36,000 in PHASIQ.
More information about the Innovation Fund Macomb Community College, Powered by JP Morgan Chase & Co can be found online:
PHASIQ’s proprietary Micropatterned Phase-Separation Technology™ enables scientists to measure protein levels in a multiplex, cost-effective and cross-reaction free manner, thereby accelerating protein diagnostics and therapeutics development. PHASIQ has exclusive worldwide licenses to three US and PCT patents and pending patents for our core technology from the University of Michigan. PHASIQ is developing research-use-only multiplex ELISA protein immunoassay kits for targeted conditions within immune disorders, cardiovascular diseases, and cancer.