Thursday
Jun262014

Ablative Solutions Receives U.S. Patent for Peregrine System™ Infusion Catheter

June 11, 2014 - MarketWatch

Ablative Solutions, Inc., a privately-held clinical stage company, announced today the issuance of U.S. Patent No. 8,740,849, entitled "Peri-Vascular Tissue Ablation Catheter with Support Structures."  Some aspects of the issued patent relate to unique micro-needle-equipped catheters for the precise delivery of fluids into a variety of tissue targets. For example, the catheters can be used in peri-vascular or peri-urethral applications for the ablation of tissue.

"We are delighted to expand our intellectual property portfolio with this new U.S. patent. It is important to our corporate strategy, as it creates a barrier to entry and solidifies ASI's position as the emerging leader in site-specific and precise delivery of medications," noted Vartan Ghazarossian, PhD, President of Ablative Solutions. "This patent is significant, as it protects central elements of our fluid-delivery technology and could suggest our receiving additional protection from other patent applications currently under review."   more                                        

Monday
May192014

Ablative Solutions Strengthens Its Scientific Advisory Board

May 6, 2014  - PRNewswire

Ablative Solutions, Inc. (ASI), a privately held company headquartered in Kalamazoo, MI, with offices in Menlo Park, CA, announced today that it has added Paul Sobotka, MD, FACP, FACC, FAHA, a highly respected clinician, to its Scientific Advisory Board.  The Company is developing a patented device for sympathetic nerve modulation, the Peregrine System™, which delivers treatment to the outer region of arteries, including renal arteries, where the sympathetic nerves are located. more

Monday
Apr282014

Ablative Solutions clears ‘huge hurdle’ to begin testing medical device 

April 27, 2014 - MiBiz

Michigan Accelerator Fund I portfolio company Ablative Solutions is one step closer to launching studies in the U.S. and Europe to test its innovative catheter system in the treatment of severe hypertension. U.S. Food and Drug Administration approval of the company’s new Peregrine System Infusion Catheter verifies the device’s safety and effectiveness and allows the company to proceed with testing it for specific treatments. Dale Grogan, co-managing director of Michigan Accelerator Fund I, said the FDA approval is a “huge step” that moves Ablative Solutions further down the road to getting the Peregrine device to the market and into the hands of doctors. more

Thursday
Mar132014

A kin-do attitude: Fischell clan drives interest in medical devices

March 11, 2014 - Crains's Detroit Business

Kalamazoo-based Ablative Solutions Inc. is being watched as it attracts investment dollars. But another big reason to watch this company is the force of the people behind it. Namely, the Fischell family. Tim Fischell, M.D., is a practicing interventional cardiologist and CEO of the company. His brother, David, has a Ph.D. in physics and is chairman of the company. Their father, Robert, has degrees in engineering and physics, and the Robert E. Fischell Institute for Biomedical Devices at the University of Maryland is named after him.  The Fischells have about 250 medical device patents among them and have started 16 companies and counting. more

Monday
Mar032014

Swift Biosciences Launches Accel-NGS™ 2S DNA Library Kit

March 3, 1014 - Swift Biosciences News

MAF-1 portfolio company Swift Biosciences announced the launch of the Accel-NGS™ 2S DNA Library Kit for Illumina Next Generation Sequencing (NGS) systems. Incorporating patent-pending technology, the Swift “2S” kit provides linear yields from inputs ranging from 10 pg to 1 µg. PCR-free libraries can be produced from as little as 100 ng. Unlike other commercially available kits, exceptional quality and evenness of coverage are obtained even at very low levels of DNA input. The product is also ideally suited for clinical samples such as FFPE tissues and plasma. more

Thursday
Feb062014

Vestaron Gains U.S. EPA Approval of Naturally Occurring Insecticide 

February 06, 2014 - Market Wired

Vestaron Corporation announced today that the U.S. Environmental Protection Agency (EPA) has approved the active ingredient in the company's breakthrough bioinsecticide for commercial sale. The insecticide, a naturally occurring peptide isolated from spiders, is approved for use on a wide variety of crops and has shown no toxicity to fish, birds or mammals, including humans. "This is a game-changer for agriculture," said Dr. John Sorenson, Chief Executive Officer of Vestaron. "Our bioinsecticide is safe for humans, safe for non-target animals and plants, and better for the environment."

"For years, scientists have argued that the most effective way to manage the development of resistance in insect pests is to combine separate active ingredients into a single insecticide," said Dr. Robert Kennedy, Chief Scientific Officer of Vestaron. "Our peptide uniquely provides novel and complex modes of action in one molecule -- a real breakthrough."more

Wednesday
Feb052014

Clinical-stage company raises $9.5M in funding

February 5, 2014 - Grand Rapids Business Journal

A clinical-stage company in the region has completed a $9.5 million Series B Preferred Stock financing to develop a device for the treatment of hypertension and other diseases. Kalamazoo-based Ablative Solutions, which is privately held and also has offices in Menlo Park, Calif., will use the financing to fund its device for renal denervation. Ablative Solutions' device, the Peregrine System, delivers a chemical treatment to the outer layer of the renal artery, where the sympathetic nerves reside, with precision.

The Series B financing round was led by BioStar Ventures and Michigan Accelerator Fund and included participation by the Ablative Solutions founders and multiple angel investors. "The company has made tremendous progress in the two years since its inception with a unique approach to renal denervation and has done so with great capital efficiency," said Dale Grogan of Michigan Accelerator Fund, who was elected to the company's board of directors upon closing of the financing more

Tuesday
Feb042014

Investors Express Confidence in Ablative Solutions' Approach of PeriVascular Renal Denervation with a $9.5M Series B Financing

February 4, 2014 - PR Newswire

Ablative Solutions, Inc., a privately-held clinical stage company headquartered in Kalamazoo, MI, with offices in Menlo Park, CA, announced today that it has completed a Series B Preferred Stock financing, totaling approximately $9.5 million (including the conversion of the bridge financing completed in 2013), to fund its unique technology platform for renal denervation. The round was led by BioStar Ventures and Michigan Accelerator Fund, and included participation by the founders and multiple angel investors. "The Company has made tremendous progress in the two years since its inception with a unique approach to renal denervation, and has done so with great capital efficiency," affirmed Dale Grogan of Michigan Accelerator Fund, who was elected to the Company's Board of Directors upon closing of the financing. 

Ablative Solutions (ASI) has developed a unique device, the Peregrine System™, which delivers a chemical treatment to the outer layer of the renal artery, where the sympathetic nerves reside, with great precision.   This streamlined procedure, which ASI calls PeriVascular Renal Denervation (PVRD™), has demonstrated highly effective denervation in pre-clinical studies, with no collateral damage to the artery.  The Company is now engaged in early clinical evaluations.  more

Tuesday
Jan282014

Bio-pesticide company names CEO

January 23, 2014 - Grand Rapids Business Journal

A venture-backed agricultural company has named its new CEO.

Kalamazoo-based Vestaron Corp. said this month that Dr. John Sorenson would make the step up from interim CEO to full-time CEO. He had served in the interim role since September, as well as chairman of the board since 2011. more

Monday
Dec302013

Fund Managers expect more VC-backed companies to mature in 2014

December 22, 2013 - MiBiz

The steady gains Michigan’s venture capital industry has made over the years are expected to continue into 2014, perhaps even bringing more of what experts in the field have long said is needed to accelerate growth: successful exits. In recent years, VC firms in the state have collectively recorded just two or three exits annually.

Dale Grogan, co-managing director of Grand Rapids-based Michigan Accelerator Fund I, believes that could double in 2014, as startup companies backed by venture capital begin maturing. “I think 2014 is going to be a really interesting year,” Grogan said. “We’ve seen some pretty good seeding in the past three or four years, so companies have progressed and some of them are finishing their life cycle and headed for an exit.”

MAF-I may even record exits next year at two of its seven portfolio companies, he said. As the two “start to mature (and) head toward their benchmarks,” they “have been approached or we expect they’ll be approached” in 2014, Grogan said. “There are inflection points that are being hit, and that means there are suitors,” he said. more