Corporate Banner
Satellite Banner
Genomics
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 3,300+ scientific posters on ePosters
  • More than 4,800+ 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.


Scientific News
Liquid Biopsies: Miracle Diagnostic or Next New Fad?
Thanks to the development of highly specific gene-amplification and sequencing technologies liquid biopsies access more biomarkers relevant to more cancers than ever before.
Colon Cancer Blocked in Mice
Case Western Reserve University Researchers block common type of colon cancer tumour in mice, laying groundwork for human clinical trial.
Discovered Through ‘Big Data’ Analysis
Researchers at the SBP have identified over 100 new genetic regions that affect the immune response to cancer.
New Therapeutic Targets For Small Cell Lung Cancer Identified
Researchers at UTSW Medical Center have identified a protein termed ASCL1 that is essential to the development of small cell lung cancer and that, when deleted in the lungs of mice, prevents the cancer from forming.
Deciphering Inactive X Chromosomes
Untangling the Barr body of inactive X chromosomes valuable for understanding chromosome structure and gene expression.
Micro Disease-Detecting Senor Created
Researchers at McMaster University have created a microscopic disease-detecting sensor that can turn on to detect trace amounts of substances.
Liquid Biopsies Treating Ovarian Cancer
Researchers have discovered a promising monitor and treat recurrence of ovarian cancer. Detecting cancer long before tumours reappear.
Uncovering a New Principle in Chemotherapy Resistance in Breast Cancer
The NIH study has revealed an entirely unexpected process for acquiring drug resistance that bypasses the need to re-establish DNA damage repair in breast cancers that have mutant BRCA1 or BRCA2 genes.
Understanding Treatment Resistant Melanoma
Researchers have determined how advanced melanoma becomes resistant; a development toward developing treatments.
Investigating ‘Black Box’ of Human Genetics
Investigations into inactive X chromosomes have shown unusual DNA repeat elements are essential for maintaining 3D structure.
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
3,300+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,800+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!