University of Michigan Board of Regents, Ann Arbor, has approved four investment for its Michigan Investment in New Technology Startups, a venture capital fund co-managed by the university’s investment office and its Office of Technology Transfer.
Attercor, a therapy company for adrenal disorders, CytoPherx, a manufacturer of medical devices to treat inflammation-based diseases using a cytopheresis system, NanoBio Corp., which focuses on developing products to prevent and treat infectious diseases using nanoemulsion droplets and Tissue Regenerative Systems a bioresorbable implants for skeletal reconstruction applications in development, could all receive funding of up to $2.5m each, the university said if the fund’s managers approve the deals.
In December, Regents approved creating the fund, which will invest up to $25 million from the $7.7 billion long-term endowment fund over 10 years in companies using intellectual property licensed through the Office of Technology Transfer.
