DIMONDALE - The San Diego real estate firm Innovative Industrial Properties Inc, which focuses on the regulated cannabis industry, announced that it entered into an amendment of the lease with Green Peak Industries LLC in Dimondale, making available an additional $18 million in funding for expansion of its cannabis cultivation and processing at the property.
SOUTHFIELD - DENSO announced it will invest approximately $1.6 billion over the next three years – from FY2018 to late FY2020 – to support development of electrified automotive products, systems and technologies. To achieve its long-term business goal to create and inspire new value for the future of mobility, DENSO is focused on increasing its performance
ANN ARBOR – Kraig Biocraft Laboratories announced a new agreement with one of its early research and financing partners, the University of Notre Dame, that converts part of a loan to the company into Kraig Biocraft stock, and the rest into a note payable over the course of two years. Kraig has genetically engineered silkworms
ANN ARBOR—The University of Michigan will make a $2.75 million initial investment into four U-M startups with potential funding of up to $20 million through subsequent financing rounds. The U-M Board of Regents approved the investments Thursday through the Michigan Investment in New Technology Startups initiative. The MINTS fund, which is overseen by the U-M
DETROIT— More than 80 percent of Michigan’s largest companies forecast their employment and investment in Michigan will stay the same or increase in the next 6 to 12 months. Their positive outlook notwithstanding, 90 percent of these same leaders believe the state and U.S. economies will stay the same or worsen during that time.
ANN ARBOR — Genomenon announced that it has completed a $2.5 million equity financing round. Company officials said the financing will expand Genomenon’s commercial reach with clinical diagnostic labs, biotech, and pharmaceutical companies. Genomenon connects patient DNA with the evidence in scientific literature to help doctors provide faster and better treatment decisions for patients with
KALAMAZOO - Innovative Cardiovascular Solutions LLC, the developer of a device to improve patient safety during a heart procedure, closed on $8 million in capital raised to support clinical trials and production. The Series C capital round supports further development of Kalamazoo-based Innovative Cardiovascular Solutions’ Emblok Embolic Protection System that’s designed to collect debris in the
LANSING — The Michigan Strategic Fund has supported two business expansions, in Washtenaw County’s Pittsfield Township and in Kent County’s Plainfield Township. Pacific Industrial Development Corp. received a $400,000 Michigan Business Development Program performance-based grant to support an investment of $17.2 million expansion that will create 50 jobs. (A photo of the plant is above.)
HOLLAND — Shoulder Innovations Inc. closed on $2.5 million in a Series A equity funding round led by the Michigan Angel Fund of Ann Arbor. The additional capital will go to support new product development and to acquire inventory and assets needed to accelerate growth of the Inset platform for future products and systems now in development. “It is
KALAMAZOO - In its first 14 months of existence, Ka-Zoo Angels has invested $435, 000 in eight companies our of 19 startups vetted, a new report shows. Launched in 2017 by Grand Angels, one of the state’s most active angel investor groups, its affiliate has 14 members. Tim Parker, Grand Angels president, said the organization
