GRAND RAPIDS Michigan has added three new Life Sciences companies so far this year, raising the total to 95 new companies since Gov. John Engler launched the Life Sciences corridor four years ago.
All three companies are based in Grand Rapids. They include:
Avalon Research and Development: designs and develops disposable medical devices for diverse customers in the health care industry.
InforMD: produces and markets a medical service that provides and documents the informed consent process.
Progressive Outcomes: infomatics company that has developed a computer program to help renal care physicians track their patient’s progress, improve outcomes and double life expectancy for chronic renal care patients.
The three cement Michigan’s ranking as the fastest-growing life sciences state in the nation, in terms of percentage growth of new life sciences companies, said Gov. Jennifer Granholm.
“With strong anchor companies like Dow and Pfizer, some of the world’s best research universities and a growing community of entrepreneurs, it is easy to see why Michigan is a magnet for new life sciences companies,” Granholm said. “The addition of these three companies is another success for the Technology Tri-Corridor, which is helping to bridge the span between research and development and commercialization.”
The Michigan Technology Tri-Corridor initiative is administered by the Michigan Economic Development Corporation. The announcement was made as the MEDC at the BIO 2004 World Conference in San Francisco. BIO is the largest gathering of biosciences professionals in the world, with more than 16,000 attending.
“Each of these companies has its own reasons for choosing Michigan to grow its business, but every reason is a good one,” MEDC President and CEO Don Jakeway said. “The big picture is that our life sciences industry is reaching a critical mass that causes bioscience entrepreneurs, companies and venture capitalists to ask, ‘If we’re not in Michigan, why aren’t we?'”
On Monday, the MEDC announced it had narrowed the field of competitors to 53 from 131 in the running for a share of $24 million in funding from the Michigan Life Sciences Corridor, now called the Technology Tri-Corridor. The funds are made available to spur research, commercialization and job creation in the life sciences, advanced automotive manufacturing and homeland security industry sectors. Award winners are expected to be chosen by the Technology Tri-Corridor Steering Committee later this month.
