• Fusion Coolant Systems

  Participated · Series C · Oct 2018

  Fusion Coolant Systems develops and commercializes patented supercritical carbon dioxide cutting fluids for manufacturing. The technology uses CO2 as a cutting fluid to lower manufacturing costs in large sectors such as medical, aerospace, and automotive. The company is based in Canton, Michigan. It plans to use new capital to grow staff, expand operations, and acquire equipment and personnel. The company raised $8M in a Series C financing led by Material Impact and Michigan Capital Advisors, with participation from existing investors MINTS, Amherst Fund and Invest Michigan. Fusion Coolant was founded by Steven Skerlos, Arthur F. Thurnau Professor of Mechanical Engineering at the University of Michigan. Fusion Coolant Systems develops patented supercritical carbon dioxide cooling and lubrication technology for metal cutting and forming applications. The company uses recycled CO2 in the form of supercritical carbon dioxide to deliver clean manufacturing solutions that protect worker health and the environment. Fusion is a University of Michigan spinout and is based in Canton, MI. Leadership includes Interim CEO Steve Skerlos and Arthur F. Thurnau, Professor of Mechanical Engineering at the University of Michigan. The company intends to use newly raised funds to grow its engineering and sales teams. No operating metrics were disclosed in the article. Fusion Coolant Systems commercializes CHiP Lube, an advanced patented Carbon Dioxide (CO2) dry coolant and lubrication system for machining and forming metal or plastic parts. The company is a University of Michigan tech transfer startup based in Detroit and is led by CEO Tom Gross. Fusion intends to use its recent funding to build out sales, marketing and product development. The product targets manufacturing customers needing dry coolant and lubrication solutions. The article reports a $600K Series A raise, indicating early-stage commercial and financial progress.

• Sierra Oncology

  Participated · Series D · Apr 2014

  ProNAi Therapeutics, founded in 2004 in Michigan, develops DNA interference (DNAi®) therapeutics using single‑stranded, unmodified DNA oligonucleotides delivered via a differentiated lipid delivery system (SMARTICLES®). Its lead candidate, PNT2258, is a 24‑base single‑stranded DNA oligonucleotide encapsulated in a pH‑tunable anionic liposome that targets the BCL2 gene; preclinical studies demonstrated activity both as a single agent and in combination with other therapies. Clinically, PNT2258 has shown early evidence of systemic anti‑tumor effect and has been administered to 35 patients across a Phase I study and a pilot Phase II study. The company plans to use new financing to advance PNT2258 into multiple Phase II studies in relapsed or treatment‑refractory non‑Hodgkin’s lymphoma (including DLBCL, Richter’s transformation, and follicular lymphoma), support manufacturing, advance preclinical candidates, and build its organization in Michigan. ProNAi reports a broad pipeline of DNAi leads against over 40 oncology and non‑cancer targets (including CMYC, KRAS, PD‑1 and Hep B) and pursues a strategy of establishing multiple partnerships across its portfolio. The company emphasizes that combining genetic specificity with effective IV delivery addresses nucleic acid delivery challenges faced by competitive programs. ProNAi Therapeutics develops nucleic acid therapeutics using proprietary DNA interference (DNAi) technology. Its lead candidate, PNT2258, is a first-in-class DNAi agent that targets the oncogene BCL2 and is in Phase II trials for BCL2-driven lymphomas. The company reports clinical activity to date — 3 complete responses and 1 partial response among 8 diffuse large B‑cell and follicular lymphoma patients, with additional tumor shrinkage and disease stabilization in the remainder. ProNAi plans to expand single-agent Phase II studies to refractory or relapsed DLBCL and FL and to initiate front-line combination studies later in the year. Management emphasizes a capital-efficient clinical strategy and intends to pursue multiple partnerships across a pipeline of DNAi leads for over 30 cancer and non-cancer targets, including CMYC and KRAS. The company is headquartered in Plymouth, Mich. ProNAi Therapeutics develops nucleic acid-based DNA-interference therapies designed to silence disease-causing genes. Its lead candidate, PNT2258, uses pieces of DNA and liposomal delivery technology licensed from Marina Biotech to block target gene activity inside cells. PNT2258 entered a phase 1 trial in September 2010 to evaluate safety and tolerable dosing in patients with tumors lacking effective treatments; results were expected later in the year, with a planned phase 1/2 to follow. The company is exploring additional targets in inflammation and genetic diseases. Financially, ProNAi was reported to be on its way to raising $1 million according to a recent U.S. SEC filing, and lists investors including Sigvion Capital, Apjohn Ventures, Amherst Fund, Grand Angels, Bioscience Research Commercialization Center, Michigan Technology Tri-Corridor and the 21st Century Jobs Fund. Founded in 2004, ProNAi is headquartered in Kalamazoo, Michigan. ProNAI Therapeutics develops DNA-driven gene-silencing cancer therapeutics, notably PNT2258. PNT2258 entered a Phase I study in September that is scheduled to run through next year. The company says the proceeds from its current fundraising will likely pay for this trial and other studies. Regulatory filings report the company has raised nearly $1.7 million toward a potential $12 million fundraise. COO Robert Forgey previously said the company had raised nearly $1 million to pay for the trial. ProNAI has raised about $17 million to date from investors including Apjohn Ventures and Sigvion Capital. ProNAi is a Kalamazoo, Mich.-based biotechnology company focused on intravenous cancer therapeutics. The company develops drugs based on "nucleic acid interference" to fight cancer. Its lead candidate, PNT2258, could enter early-stage clinical trials against skin and prostate cancer later this year. Financially, ProNAi has raised $2 million toward a $4 million bridge round and aims to raise a $25 million second round later this year. The bridge financing includes investors such as Apjohn Ventures, Sigvion Capital, Amherst Fund, Grand Angels, the Michigan Economic Development Corp., the Biosciences Research Commercialization Center and the Michigan Technology Tri-Corridor. The article discloses no operating metrics or prior funding rounds.

No current team members are available.