Michigan Angel Fund specializes in investments in angel deals. The fund does not invest in gaming or real estate related ventures. It prefers investing in early-stage start-ups that are at or near revenue. The fund seeks to invest in IT, CleanTech, advanced manufacturing, and health care. The fund invests between $0.2 million to $2 million in its companies. It prefers investing in companies requiring less than $2 million to reach break-even or sustainability. Founded in 2011, Michigan Angel Fund is headquartered in Ann Arbor, Michigan.

Michigan Angel Fund

The InvestMichigan! Program (the “Program”) is an initiative that makes capital available to successful entrepreneurs who create jobs in Michigan. Its principal goals are to generate strong returns for investors, provide assistance to growing Michigan companies, attract world class investment in the outstanding companies already present in Michigan, and encourage investors to locate their portfolio companies in Michigan. Investments are made across a broad range of industry sectors and investment stages, ranging from early-stage venture through mature companies.  The Funds are co-managed by Beringea, a Michigan-based venture capital firm experienced in geographically targeted investment programs, and GCM Grosvenor Private Markets. The objectives of the funds are to: Retain and attract growth businesses to Michigan; Nurture portfolio companies at each phase of development; Enhance Michigan’s reputation for entrepreneurship; Attract leading regional and national private equity and venture capital investment funds to Michigan, and Further develop Michigan’s entrepreneurial ecosystem  Portfolio companies that become part of the program and their management teams will be supported by the Business Leadership Council, led by Chairman Peter Karmanos and comprised of Michigan business leaders who offer support, guidance and access to business relationships.

InvestMichigan

Founded in 1972, the Broe Group practices investing with patience to optimally realize value for entrepreneurs and stakeholders it partners with.    The Broe Group invests with technology and healthcare technology firms to complement its portfolio of asset heavy holdings in the transportation, real estate and energy industries.  As a long term partner, the Broe Group provides entrepreneurs with resources beyond capital with access to a diverse network of individuals and organizations.

Three Leaf Ventures

Invest Detroit is a development financial institution and source of private sector financing. Detroit Innovate is an early-stage investment fund focused on the Detroit Region.  Detroit is a growing entrepreneurial community and they're at the center of it. Their focus is high potential seed stage companies founded on unique, IP-based technologies.

Invest Detroit

IrishAngels is an early-stage venture firm focused on funding the most promising startups across the US. We invest in pre-seed and seed stage startups and leverage our active network to add value to the companies we fund. All investors have a link to the University of Notre Dame but we do not exclusively fund founders with Notre Dame connections. We invest in B2B SaaS, consumer, and medical companies.

IrishAngels

H.W. Kaufman Group is a global network of companies dedicated to shaping the insurance industry. Our success is drawn from a collaboration of unique insights, an unparalleled depth of resources and the highest level of expertise

Kaufman Financial Group

BroadOak Capital Partners, LLC is a privately held investment bank with a comprehensive focus on the life sciences industry. They offer advisory services including mergers and acquisitions, divestitures, business combinations, capital formation, valuations and fairness opinions. Their sector focus includes research tools and consumables, diagnostics, therapeutics, healthcare IT, pharmaceutical services and medical devices.

BroadOak Capital Partners

Green Park & Golf, built on over 50 years of operational and financial experience, seeks investment opportunities that offer above-market returns for its investors. Led by Clay Heighten, M.D., and Carl Soderstrom, the Firm delivers strategic solutions, financial backing and a reliable network to its portfolio companies. The Dallas-based Firm is currently looking for investment opportunities in medical-related start-ups.  Dr. Heighten founded MedicalEdge Healthcare Group in 1993, and Mr. Soderstrom started PhyServe Physician Services in 1998 to administer the financial and operational needs of MedicalEdge. Together, the companies managed over 550 providers in five major markets. In 2011, the companies were sold to Texas Health Resources, a $3.8 billion health care system. That’s when Green Park & Golf was born.  After earning his MBA at Southern Methodist University, Mr. Garcia joined them full-time in May 2011 to actively pursue new investment opportunities and monitor other investments in their portfolio. He has prior professional experience at FedEx, Bold Ventures, and Lone Star Investment Advisors.

Green Park & Golf Ventures

Invest Detroit Ventures is committed to supporting the entrepreneurial ecosystem with capital, on-going mentorship, and community engagement. We implement targeted venture development programs to help build and promote scalable businesses in the region. Their team is committed to growing a robust tech community in Detroit and throughout Michigan. They are collectively focused on implementing an investment strategy that is inclusive and supportive of minority, immigrant, and women entrepreneurs.

Invest Detroit Ventures

Founded in 2014, Red Cedar Ventures (RCV) is a wholly-owned subsidiary of the MSU Research Foundation and the first venture fund in mid-Michigan. RCV makes early-stage investments in high-tech startups commercializing intellectual property created at Michigan State University. Red Cedar Ventures supports for funds: Pre-Seed Fund, Opportunity Fund, Opportunity II Fund, and Michigan Rise Pre-Seed Fund III.

Red Cedar Ventures

Michigan Rise Pre-Seed Fund III invests in Michigan tech startups to help commercialize innovative technologies.  We are proud to partner with Michigan’s best and brightest tech entrepreneurs and further economic development in the Mitten State.  The Pre-Seed Fund III is administered by the Michigan State University Research Foundation through Michigan Rise which is a wholly-owned subsidiary of the Foundation.  Michigan Rise supports entrepreneurs and technology startups across Michigan through capital support, coaching, assistance with grant funding and more. The Michigan State University Research Foundation was formed in 1973 and is a 501(c)(3) non-profit organization that is charged with helping Michigan State University achieve its land grant mission related to economic development through the commercialization of new intellectual property. The Foundation oversees several entities involved in this activity including Red Cedar Ventures and Spartan Innovations.  Michigan Rise Pre-Seed Fund III is made possible with support from the Michigan Economic Development Corporation and Michigan State University Research Foundation. To apply for funding, please submit a brief application here: https://www.michiganrise.com/application

Michigan Rise

Attain Specialty Insurance Company operates as an insurance company.

Atain

Beringea is an international venture capital and private equity firm dedicated to finding, funding and nurturing exceptional companies in growth industries. Founded in 1988, the firm currently has more than 60 portfolio companies in a range of emerging sectors, including media, health care and life sciences, Internet technologies, advanced manufacturing, clean tech and specialized consumer goods. With capital, experience and offices in the U.S. and U.K., Beringea is in a unique position to offer entrepreneurs and their management teams the resources to develop strategy, evaluate growth opportunities, solve problems and build value. Beringea is the co-manager of the Michigan Growth Capital Partners Funds in the U.S., as well as the ProVen VCT family of funds in the UK, among others.

Beringea

Spring Mountain Capital focuses on providing expansion capital to companies capitalizing on breakthrough innovations, paradigm shifts, or fundamental market or behavioral changes. SMC invests in sectors of the U.S. economy undergoing the most change and with the highest growth potential: enterprise software, technology-enabled services, digital health, and healthcare services.

Spring Mountain Capital

The University of Michigan’s programs consistently places high in national rankings. Especially renowned are the Stephen Ross School of Business, the College of Engineering, The Law and Medical Schools, and the Musical Theatre program. There is also a strong film presence in Ann Arbor, with many major motion pictures being shot there and the annual Ann Arbor Film Festival, which brings in filmmakers from all over the world.

University of Michigan

Riverine Ventures partners with emerging new company leaders to bring solutions to complex challenges in healthcare and the life sciences.

Riverine Ventures

Genomenon

Genomenon develops software tools to rapidly and autonomously prioritize data points for decision-making. It revolutionizes the way genetic diagnoses and discoveries are made. The company’s suite of diagnostic and discovery tools enable physicians, pharma, and researchers to quickly and accurately identify disease-causing variants from genomic-sequencing datasets. It was founded in 2014 and is headquartered in Ann Arbor, Michigan.

<div>Genomenon is an AI-powered bioinformatics company that gathers and organizes genomic information used by healthcare providers to help diagnose patients with cancer as well as rare and genetic diseases. Additionally, its Prodigy Genomic Landscapes application is used to understand molecular drivers and clinical attributes of any genetic disease to help researchers discover and develop precision medicine targets, identify genetic biomarkers for clinical trial stratifications, and develop companion diagnostics.&nbsp;</div>

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

AI Approach Builds Genomenon’s Database of Clinically Relevant Genomic Data

GenomOncology

To enhance genomic reporting and enable more efficient and effective delivery of precise genomic insights for diagnosing and treating hereditary diseases, cancer, and rare diseases.

Secure cloud-based platforms and data sharing networks that collect, index, store, and analyze large amounts of health data and patient population data sets from sources including genomic, clinical, wearables, imaging, and population data.

Alphabet

To provide genetic data on the PIK3CD and PIK3R1 genes related to Activated PI3K delta syndrome (APDS) to researchers and clinicians worldwide.

Agilent Technologies

To integrate the Genomenon Mastermind Genomic Search Engine into the new version of Agilent Alissa Interpret.

Companies providing genetic tests to identify individuals with high risk or at-risk of having hereditary disease, aid physicians with a diagnosis, and support clinical decision making.

<div>
 
 Genomenon is an AI-powered bioinformatics company that gathers and organizes genomic information used by healthcare providers to help diagnose patients with cancer as well as rare and genetic diseases. Additionally, its Prodigy Genomic Landscapes application is used to understand molecular drivers and clinical attributes of any genetic disease to help researchers discover and develop precision medicine targets, identify genetic biomarkers for clinical trial stratifications, and develop companion diagnostics.&nbsp;
 
 
 The company operates a B2B model, used by more than 1,000 genetic testing labs and hospitals as of March 2022 to offer clinical insight on genomic data. Additionally, its Mastermind Genomic Search Engine is a freemium service that offers scientific papers to scientists, academics, and clinicians. Unlike its competitors with smaller datasets, it has 8.3 million full-text articles and nearly 34,500 scientific journals. About 20,000 users across more than 140 countries are using the search engine including Congenica, Fabric Genomics, and Google Cloud.
 
 
 The Michigan-based company&rsquo;s latest funding round took place in March 2022, where it raised USD 20 million in a Series B funding round led by Beringea and Spring Mountain Capital. It was allocated for expanding its commercial operations and developing a genomic data hub targeting genetic testing companies, hospitals, and pharma companies.
 
</div>

<div>
 
 Praxis Precision Medicines is a clinical-stage biopharmaceutical company that develops precision medicine for central nervous system disorders based on neuronal imbalance caused by genetic mutations.
 
 
 The company has four clinical-stage product candidates in its pipeline for treating disorders such as depression, epilepsy, movement disorders, and pain syndromes. The company&rsquo;s drug candidates include 1) PRAX-944, which is an inhibitor for essential tremor disorder linked to Parkinson&rsquo;s disease and is set to begin Phase 3 in mid-2023, 2) PRAX-222 in Phase 2 of clinical trials targets the SCN2A gene most commonly associated with early-onset epilepsy, 3) PRAX-562 was designed to block persistent sodium for patients suffering from rare diseases such as headache disorders and severe seizures and completed Phase 1 of clinical trials, and 4) PRAX-628 in Phase 2 clinical trials for treating focal epilepsy that originates in one side or area of the brain and affects one side of the body. Additionally, the firm has six pre-clinical drug candidates.
 
 
 Funding and financials
 
 
 The company went public in October 2020, trading on the Nasdaq Global Select Market under the ticker symbol &ldquo;PRAX&rdquo;. 
 <a href="https://sp-edge.com/updates/19453">
 In June 2023 
 </a>
 , the company announced an underwritten public offering of its common shares and pre-funded warrants, to raise approximately USD 59.1 million. The capital raised was used to support the company&rsquo;s ongoing operations and strategic initiatives, furthering the development of its pipeline and potential future endeavors.
 
 
 For the year 
 <a href="https://sp-edge.com/updates/16211">
 2022
 </a>
 , net losses increased by 28% YoY to USD 214 million arising from a significant increase in R&amp;D expense (up by 29% YoY). For the six months ended June 2023, the company is yet to generate revenue from drugs, however received collaboration revenue of USD 1.5 million. Further, it reported a decline in net loss by 43.0% YoY to USD 34.3 million. Its cash and cash equivalent as of June 2023 was at USD 124.3 million, compared to USD 61.6 million in December 2022, which the company believes will be adequate to fund operations till Q1 2025. 
 
</div>

Praxis Precision Medicines

<div>
 
 Mirati Therapeutics is a commercial-stage biotechnology company developing oncology-targeted therapies to address KRAS mutations present in 25% of tumors, including lung, colorectal and pancreatic cancers. Mirati&rsquo;s lead product KRAZATI (adagrasib/ MRTX849) is an oral&nbsp; KRASG12C inhibitor approved in 2022 for certain non-small cell lung cancers.The company also has sitravatinib, a multi-kinase inhibitor, in Phase 3 trials for non-small cell lung cancer in combination with a Bristol-Myers Squibb checkpoint inhibitor.
 
 
 
 
 Additionally, Mirati is advancing multiple early-stage programs including KRAS G12D inhibitor MRTX1133 for pancreatic and colorectal cancers, which entered Phase 1 in 2023, as well as a synthetic lethal inhibitor MRTX1719. In December 2022, the company submitted an IND application for MRTX1133, a potent and selective KRAS G12D inhibitor, which was cleared by the FDA in January 2023. 
 
 
 Key partnerships and customers
 
 
 
 
 Mirati has multiple partnerships with leading biopharma companies to advance its pipeline, including discovery collaborations with Pfizer and clinical collaborations with Novartis, Boehringer Ingelheim, and 
 <a href="https://sp-edge.com/updates/14345">
 Incyte
 </a>
 . The company also has licensing agreements with BeiGene for sitravatinib and Zai Lab for MRTX849 in certain Asian markets.
 
 
 
 
 
 Funding and Financials
 
 
 
 
 The company went public in June 2013 to trade on Nasdaq under the ticker symbol &ldquo;MRTX&rdquo;. In August 2023, the company closed an 
 <a href="https://sp-edge.com/updates/20988">
 underwritten public offering
 </a>
 at USD 345 million. The new funds were used towards drug development and leadership expansion.&nbsp;
 
 
 
 
 <a href="https://sp-edge.com/updates/16725">
 For the year 2022 
 </a>
 , the firm's net losses increased to USD 740.9 million from USD 581.8 million. Net product revenue for the full year amounted to USD 0.7 million arising from the sale of KRAZATI, which received FDA approval for its commercial launch in December 2022. 
 
</div>

Mirati Therapeutics

<div>
 
 Tvardi Therapeutics is a clinical-stage biotechnology company developing precision medicine for different cancers, chronic inflammatory diseases, and fibrotic diseases. The company&rsquo;s pipeline focuses on the development of small-molecule inhibitors of STAT3, a regulatory protein that allows cancer cells to evade the immune system and survive.
 
 
 The company&rsquo;s orally administered monotherapy and lead product, TTI-101, is in Phase 1 clinical trials for patients with advanced solid tumors who have failed all other lines of therapy. Additionally, the drug is in preclinical trials for treating fibrosis and inflammation. The company is also developing TTI-102, a next-generation STAT3 inhibitor that is structurally similar but chemically different from TTI-101.&nbsp;
 
 
 Founded in 2017, the Texas-based company closed a Series B funding round in June 2021, which brought total funding to USD 81 million and the proceeds will be used to advance Tvardi&rsquo;s drug candidates through its clinical data readouts in mid-stage trials for cancer and fibrosis.
 
</div>

Tvardi Therapeutics

<div>
 
 Tango Therapeutics is a clinical-stage biotech company developing precision oncology therapies targeting synthetic lethality in cancer which leads to cell death. Its discovery platform identifies novel targets to develop drugs focused on: 1) countering tumor suppressor gene loss to help the immune system recognize and kill cancer cells, and 2) reversing cancer cell evasion of the immune system.
 
 
 
 
 Tango has five pipeline programs, including lead candidate TNG908, an inhibitor for multiple cancer indicators. The FDA approved TNG908's IND in January 2022 and granted it Orphan Drug Designation. TNG908 is in Phase I/II trials, with preliminary efficacy data expected in H1 2023. Tango also plans to file INDs for TNG260 (STK11 mutant cancers) and TNG348 (BRCA1/2-mutant cancers). In 
 <a href="https://www.globenewswire.com/news-release/2023/01/25/2595034/0/en/Tango-Therapeutics-Announces-FDA-Clearance-of-Investigational-New-Drug-Application-for-TNG462-Provides-Additional-Business-Updates.html">
 January 2023
 </a>
 , the FDA cleared the IND for TNG462, a next-gen PRMT5 inhibitor for cancers with MTAP deletion.
 
 
 
 
 Key partnerships and customers
 
 
 
 
 
 Outside its pipeline, the company also entered into a collaborative partnership with big pharma Gilead Sciences Inc., in October 2018 which was later expanded for two years in August 2020 to identify new immune evasion targets.
 
 
 
 
 Funding and financials&nbsp;
 
 
 
 
 
 Tango went public in August 2021 via a SPAC deal, trading on Nasdaq under the ticker symbol &ldquo;TNGX&rdquo;, and the company received gross proceeds of USD 353 million. In August 2023, the company raised USD 80 million via a 
 <a href="https://sp-edge.com/updates/20955">
 private placement
 </a>
 , which was led by Nextech. The new funds were used toward expanding its TNG908 and TNG462 PRMT5 programs to various other indications.
 
 
 
 
 Tango has not yet generated any drug sales and does not expect to do so for several years. However, for the full-year the company reported collaboration revenue of USD 24.9 million (down 4.42% YoY) and a net loss of USD 108.2 million (up 85.9% YoY).
 
 
 
</div>

Tango Therapeutics

<div>
 
 IDEAYA Biosciences is a clinical-stage biotech developing precision cancer therapies based on synthetic lethality - when specific gene mutations pair to cause cell death. The company also studies combining synthetic lethality with immunotherapies and DNA damage to enhance treatment efficacy. While current drugs target limited mutations like BRCA1/2, IDEAYA aims to treat broader genetic subpopulations.&nbsp;
 
 
 
 
 Its pipeline includes synthetic lethality-driven precision medicines across four potential first-in-class clinical-stage product candidates. Of these, the company owns/controls commercial rights of the three most-advanced of these product candidates: darovasertib, IDE397, and IDE161. As of May 2024, the company was also advancing Werner Helicase program for which a development candidate has been selected in collaboration with GlaxoSmithKline, and, subject to investigational new drug-, or IND-, enabling studies, are targeting an IND in 2024. In addition. the company also works on multiple earlier-stage preclinical programs. 
 
 
 By targeting specific genetic drivers, IDEAYA advances precision oncology using synthetic lethality approaches. The company is focused on developing novel targeted therapies for patient populations with high unmet need and limited treatment options.&nbsp;&nbsp;
 
 
 In December 2023, IDEAYA Biosciences teamed up with Gilead Sciences to test the combination of IDE397 and Trodelvy in a Phase I clinical trial for MTAP-deletion bladder cancer.
 
 
 
 
 Key partnerships and customers
 
 
 
 
 The company collaborates with pharmaceutical partners to advance its pipeline, including a strategic partnership with GSK in June 2020. The collaboration with GSK covers co-development and commercialization of two synthetic lethality programs. IDEAYA received USD 100 million upfront and USD 20 million in a direct private placement through the GSK deal. In June 2022, IDEAYA announced it would co-develop its Pol Theta candidate with GSK, with a Phase 1 trial starting in the first half of 2023.&nbsp;
 
 
 
 
 IDEAYA also holds an exclusive license from Novartis for LXS196 (IDE196), a PKC inhibitor for metastatic uveal melanoma. Additionally, the company is exploring IDE196 combinations with Pfizer and its potential in other rare skin diseases. In July 2022, IDEAYA signed an agreement with Amgen to evaluate IDE397 with Amgen's AMG 193 in solid tumors. Strategic pharma partnerships help advance and expand IDEAYA's pipeline of synthetic lethality precision oncology programs.
 
 
 
 
 Funding and financials
 
 
 
 
 
 The company was listed on the Nasdaq Global Select Market under the ticker symbol &ldquo;IDYA&rdquo; in May 2019, raising USD 50 million via an initial public offering. In September 2022, the company raised USD 92 million.&nbsp;
 
 
 
 
 For 2022, the company reported a net loss of USD 58.7 million (up 17.9% YoY) while collaboration revenue was USD 50.9 million (up 82.3% YoY). 
 
 
 On October 24, 2023, IDEAYA Biosciences priced an underwritten public offering of 5 million shares of common stock and pre-funded warrants to purchase 319,150 shares of common stock. The common stock offered was priced at USD 23.50 per share, while the exercise price of a pre-funded warrant was USD 0.0001. The offering was expected to bring in approximately USD 125 million in gross proceeds.
 
 
 
</div>

IDEAYA Biosciences

Biopharma and biotechnology companies that develop precision medicine drugs based on novel disease biomarkers present in multi-omic patient population data and genetic insights.

Companies that study intergenomic variations in genes associated with drug response and metabolism to match patients with the appropriate drug and dosage.

Companies that develop an in-vitro medical device or imaging tools and tests that identify genetic mutations for both diagnostic (nature of the disease) and prognostic (likely course of the disease) purposes, allowing providers to match a patient to a specific drug or therapy.

Software analytics platforms that integrate multiple omics datasets (genomics, transcriptomics, proteomics, and metabolomics) to gain insights and support target discovery, drug development, clinical trials, and diagnostics.

Some companies leverage AI/ML to develop tailored medication

Considers individual variability in genes, environment, and lifestyle for each person

Genomics is used across all the segments of precision medicine from diagnostic solutions to treatments

AI/ML analyzes genomic data to find drug targets, predict disease progression, and treatment response

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 
 GenomOncology and Genomenon have formed a strategic partnership to streamline germline variant classification and genomic reporting. GenomOncology will integrate Genomenon's curated genomic data—referred to as "mastermind data"—into its platform. This will improve the efficiency and accuracy of genomic reporting. The extensive dataset will strengthen healthcare providers' capabilities of providing accurate genomic insights, which will assist in the diagnosis and treatment of hereditary conditions, cancer, and rare diseases.&nbsp;
 
</div> Analyst QuickTake: 
 Earlier, in September 2024, GenomOncology <a href="https: 
//sp-edge.com/updates/33461"> partnered </a> with Precipio to advance testing and clinical genomic reporting for myeloid neoplasms.The partnership aimed to enhance variant interpretation and accelerate the diagnostic process, delivering fast results to healthcare providers with potential treatment recommendations to enhance patient care.

Genomenon

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