ANN ARBOR Venture capital funding continues to rise in Michigan with the announcement that biotech startup Genetics Squared received a $1 million investment from CrystalPoint Partners in Ann Arbor and an undisclosed private investor.
Genetics Squared uses computers and proprietary technology to advance clinical development of new therapies.
“Genetics Squared has a great deal of promise and its customers are excited about its ability to increase the speed at which new drugs are developed,” said CrystalPoint Managing Director Wassim Mortada.
New CEO John Freshley said the funding will be used to recruit management and new staff, invest in additional technology infrastructure and develop a sales operation for the company.
The technology developed by Genetics Squared enables it to predict drug response based on specific characteristics of individual patients, such as genetic makeup or certain protein activity. This could assist doctors in prescribing the right therapy for patients allowing them to avoid therapies predicted to have a negative response and choose therapies likely to benefit the patient.
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