About MBVF
Michigan Biomedical Venture Fund, where innovation and investment converge to shape the future of healthcare. We are a dynamic fund supporting pioneering life science startups with U-M-licensed intellectual property, ranging from therapeutics and medical devices to health IT solutions. The program is powered by the collaborative efforts of the U-M Medical School’s Fast Forward Medical Innovation (FFMI) program and Michigan Engineering’s Center for Entrepreneurship (CFE). Our evergreen fund, established through an initial gift from the Monroe-Brown Foundation, fuels these ventures with initial seed-stage equity investments typically ranging from $100,000 to $300,000, with capacity for additional follow-on investment.
Advancing biomedical breakthroughs through investment and expertise
The MBVF bridges the gap between cutting-edge research and startups which can drive biomedical innovations into clinical care. Our exclusive focus on biomedical startups integrated with U-M IP sets us apart. To qualify, entrepreneurs typically must have completed an esteemed translational program such as Coulter, MTRAC, or I-Corps. Our mission is to create a transformative pipeline, fostering clinical breakthroughs and economic impact through startups. For visionary companies ready to redefine healthcare, please reach out to our fund team. Join us in revolutionizing the industry, one innovation at a time.
PORTFOLIO COMPANIES
Akadeum Life Sciences
Ann Arbor, MI
Brandon McNaughton, CEO
Akadeum Life Sciences developed a microbubble-based platform for live cell isolation with applications including cell and gene therapy manufacturing.
ARBORSENSE
Ann Arbor, MI
Girish Kulkarni, President & Co-Founder
Arborsense makes wearable devices for continuous monitoring of blood alcohol content and other analytes directly from the skin.
Arcascope
Ann Arbor, MI
Olivia Walch, CEO
Arcascope developed a platform for sleep and alertness optimization based on circadian rhythm model, for shift workers and chronotherapy applications.
BRIO LLC
Ann Arbor, MI
Hannah Hensel, Co-Founder & CEO
Brio’s insertion stylets minimize reliance on clinician skill for success and are designed to assist users in locating the trachea and maneuvering the endotracheal tube through the mouth, throat, and airway.
Courage Therapeutics
Newton, MA
Dan Houseman, CEO
Courage Therapeutics is developing new medicines for eating disorders.
Endovascular Engineering
Menlo Park, CA
Mike Rosenthal, CEO
Endovascular Engineering developed a thrombectomy device to treat pulmonary embolism and deep vein thrombosis.
EVOQ Therapeutics
Ann Arbor, MI
David Giljohann, CEO
EVOQ offers nano-vaccine technology that is able to evoke potent anti-tumor T-cell responses that can eradicate tumors and establish long-term immunity against tumor recurrence.
FlexDex Surgical
Brighton, MI
James Geiger, CEO
FlexDex Surgical is an innovative medical device company bringing the benefits of minimally invasive surgery to more patients around the world by providing surgeons with tools that have the functionality of robots at the cost of traditional hand-held instruments.
GENOMENON
Ann Arbor, MI
Mike Klein, CEO
Genomenon’s software simplifies genome interpretation to improve diagnostic accuracy in clinical practice and speed genetic discoveries in research laboratories.
INVENIO
Santa Clara, CA
Jay Trautmann, President & CEO
Invenio’s NIO imaging system enables intraoperative histology, reducing downtime in the OR and allowing examination of specimens from multiple sites in the surgical cavity.
iRenix Medical
Palo Alto, CA
Stephen Smith, CEO
iRenix offers a novel antiseptic for intravitreal injections/ophthalmic procedures.
m3d
Ann Arbor, MI
Michael Hopkins, Co-Founder & CEO
Real-time, intraoperative 3D radiation imaging for sentinel node biopsy, surgical oncology, and radiation safety.
MDI Therapeutics
Ann Arbor, MI
Stephen Benoit, President & CEO
Leveraging the world-renowned research of founder Dan Lawrence in serpin biology. MDI Therapeutics has discovered a new class of small molecule inhibitors of plasminogen activator inhibitor-type 1 (PAI-1) for the treatment of fibrosis.
Mountain Pass
Ann Arbor, MI
Tom Simon, CEO
Mountain Pass Solutions (MPS) offers a fully configurable workflow management system as a SaaS product.
ONL Therapeutics
Ann Arbor, MI
David Esposito, CEO
ONL offers a first-in-class therapy to protect the vision of patients with retinal disease, using a Fas inhibitor designed to protect against retinal cell death.
PARABRICKS
Exited – acquired by Nvidia
Ann Arbor, MI
Mehrzad Samedi, CEO and Co-founder
Parabricks helps companies and researchers sequence whole human genomes 48x faster than conventional next-generation sequencing pipelines saving on computation costs with faster throughputs.
RIPPLE SCIENCE
Ann Arbor, MI
Peter Falzon, Co-Founder & CEO
Ripple Science offers program management software for recruiting subjects for academic or industry studies.
INVESTMENT ADVISORY BOARD MEMBERS
Critical to MBVF’s powerhouse team is the Investment Advisory Board (IAB), composed of industry experts, top-tier bio/med/healthcare venture capitalists, and successful entrepreneurs. The IAB helps shape investment decisions and provides a supportive network for our portfolio startups. With a wealth of domain expertise in healthcare and biotech, our IAB members bring unmatched insight and experience. Our members are not tied to U-M funding programs, ensuring unbiased, independent counsel. Introducing the powerhouse behind our achievements: our esteemed IAB members:
Amit Aysola, M.S.E., M.B.A.,
Managing Partner, Create Health Ventures
Sundaresh Brahmasandra, Ph.D.,
Serial Biotech Entrepreneur, VP Luminex
Rafael Castilla, J.D.,
Director MINTS, U-M Investment Office
Dan Estes, Ph.D.,
General Partner, Frazier Life Sciences
Brian Gallagher, M.S., Ph.D.,
Biotech Investor & Entrepreneur
Rekha Hemrajani, M.S.,
Life Science CEO & Board Member
Dan Kidle, B.B.A., M.B.A.,
Managing Partner, Arboretum Ventures
Jason Lettman, M.B.A.,
Partner, Lightstone Ventures
Julia Owens, Ph.D.,
Biotech CEO, Advisor & Board Member
Ellen Sheets, M.D., M.B.A.,
Healthcare Exec, CEO SeQure Dx
C.R. Sincock,
Investor & Entrepreneur, AvFuel, Transhuman Capital
DONORS
FOUNDING DONOR:
LEAD DONORS:
Carol and Dixon Doll Family Foundation
Reach out to learn more about leveraging philanthropy in an evergreen, self-sustaining manner, to bring more treatments and technologies to clinical care and build Michigan’s life science entrepreneurial ecosystem!
MICHIGAN BIOMEDICAL VENTURE FUND TEAM
John Seamans, M.S.E.
MBVF Fund Manager
jseamans@umich.edu
Nimisha Nandankar
MBVF Venture Analyst
nimishan@umich.edu
Frequently Asked Questions
What are the eligibility criteria?
Any U-M startup that has a U-M license/option and has a biomedical or healthcare focus is eligible to receive funding. Since this is an early-stage venture fund we fund at the angel or seed level, and in some cases at the Series A stage. We typically do not make our first investment in rounds later than the Series A stage.
We don’t have an option or a license yet, but are in the process; can we still apply?
Yes, you can still apply while the licensing is still in progress. The final funding is contingent on obtaining the license/option.
We are not a company yet, but are in the process; can we still apply?
Yes, you can still apply while the company formation is in progress. The final funding is contingent on company formation, and proof of business entity registration is required.
What is the timeline and process?
Applications are accepted on a rolling basis. It is highly recommended that you contact the program manager before applying. Once we receive a company’s application, we’ll begin the initial due-diligence process (about 4-6 weeks). Select teams will be recommended to present to the external Investment Advisory Board (IAB). During this time, companies have to address issues raised by the Board and the Program Manager as they perform further due diligence (4-8 weeks). In most cases, companies are funded after addressing feedback from the introductory meeting with the Board. Typically, the entire process takes 2 to 4 months.
Do you fund student startups that come out of the university?
Sorry, at this moment we are not considering student-IP owned startups from U-M.
What financial instrument do you use to invest?
Since most companies are very early-stage, we want to keep the terms as simple and easy as possible. We are open to using a Simple Agreement for Future Equity (SAFE) agreement or a convertible note. In cases where syndicates are being formed, we are happy to follow the lead investor’s term sheet subject to certain provisions.
Michigan Biomedical Venture Fund
16
16 startups funded, 28 investments, 1 exit
7/2
7 new medical/biomedical products and 2 therapies in human trials developed by MBVF-funded U-M startups
35:1
35:1 leverage: $35+ of follow-on funding for every $1 of MBVF investment
$180M+
funding raised by portfolio startups
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