Corporate Banner
Satellite Banner
Molecular & Clinical Diagnostics
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Michigan Accelerator Fund I Invests $750,000 in Swift Biosciences

Published: Friday, January 18, 2013
Last Updated: Friday, January 18, 2013
Bookmark and Share
Innovative company develops enabling technologies for genomics and personalized medicine.

Michigan Accelerator Fund I has made a $750,000 Series A1 investment in Swift Biosciences Inc.

This is the seventh company MAF 1 has funded since the fund’s inception in 2010, and the first investment since the fund closed at $15.1 million in August 2012.

The investment in Swift Biosciences continues MAF 1’s strategic focus to invest in Michigan-based, early stage, life science technology companies.

Located in Ann Arbor, Swift Biosciences is commercializing genetic testing technology to advance the field of genomics and personalized medicine. To date, Swift has launched a product suite referred to as myT Primers, which enable detection of mutated cells related to melanoma with extreme sensitivity. This opens the door for test specimens to be collected as blood samples instead of tissue, which may allow for earlier detection. In 2013, Swift will launch a new line of products focused on genome sequencing.

“We are thrilled to be investing in Swift at an extremely timely juncture, as their technology is forecast to hit the market right when the need will be the greatest,” said Dale Grogan, managing director of MAF 1. “We look forward to our investment realizing solid returns in two to three years, if not sooner.”

Launched in 2010 with the backing of several Michigan-based individual investors, MAF 1 now joins Houston-based Mercury Fund as Swift’s only institutional investors. The total invested in Swift to date is $6.15 million. The latest funding will support product development, patent filing and prosecution, and direct sales and marketing to key laboratory leaders.

“The inclusion of MAF 1 as a Michigan-based investor is highly encouraging, and provides us with additional financial runway as we launch new products in 2013,” said Swift Biosciences CEO David Olson. “They are a welcome addition to the Swift team.”


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,100+ scientific posters on ePosters
  • More than 4,500+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Swift Biosciences Announces $7 Million Series B Financing
Funds will support development of next gen sequencing and molecular diagnostic products.
Friday, October 18, 2013
Scientific News
Loss Of Y Chromosome Increases Risk Of Alzheimer’s
Men with blood cells that do not carry the Y chromosome are at greater risk of being diagnosed with Alzheimer’s disease. This is in addition to an increased risk of death from other causes, including many cancers. These new findings by researchers at Uppsala University could lead to a simple test to identify those at risk of developing Alzheimer’s disease.
Making Virus Sensors Cheap and Simple
Researchers at The University of Texas at Austin demonstrated the ability to detect single viruses in a solution containing murine cytomegalovirus (MCMV).
Heart Defect Prediction Technology Could Lead to Earlier, More Informed Treatment
Experimental method uses genetics-guided biomechanics, patient-specific stem cells.
Biosensor Detects Molecules Linked to Cancer, Alzheimer's and Parkinson's
Novel biosensor has been proven capable of detecting molecules associated with neurodegenerative diseases and some types of cancer.
Big Data Can Save Lives
The sharing of genetic information from millions of cancer patients around the world could be key to revolutionising cancer prevention and care, according to a leading cancer expert from Queen's University Belfast.
Fast, Simple Test for Colitis
A minimally invasive screening for ulcerative colitis using emerging infrared technology could be a rapid and cost-effective method for detecting disease that eliminates the need for biopsies and intrusive testing of the human body.
Scans Reveal Babies of Mothers with Gestational Diabetes Have More Body Fat
Researchers at Imperial College London have found that the babies born to mothers with gestational diabetes have more body fat at two months of age compared to babies born to healthy mothers.
New Device Could Improve Cancer Detection
UBC researchers develop a microfluidic device to capture circulating tumor cells.
Plasma Biomarkers for Breast Cancer Diagnosis
Plasma lipidomics profiling identified lipid biomarkers in distinguishing early-stage breast cancer from benign lesions.
Newborn Screening Test Developed For Rare, Deadly Neurological Disorder
Scientists have developed a new dried blood spot screening test for Niemann-Pick type C, with goal to speed diagnosis and treatment.
Skyscraper Banner

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,100+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,500+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!