University of Michigan’s Zell Lurie Commercialization Fund Invests in PHASIQBy Amanda Lewan on September 18th, 2015 /
The Zell Lurie Commercialization Fund, in collaboration with the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the Ross School of businesses announces their first investment. The student-led venture capital fund uses their investment to provide seed funding to Midwest biotech company, PHASIQ, a healthcare company that provides a cheaper, faster, and more accurate solution to test for multiple proteins on a single patient sample.
The Zell Lurie Commercialization Fund is the first and only institutional investor to contribute to the round. Designed to give students hands on investment experience, it’s one of four student-led investment funds at the University that operates under the direction of the Zell Lurie Institute.
“The student team involved in the PHASIQ investment has done a phenomenal job of identifying a company that’s technology is blossoming and is clearly ready for commercialization,” said Stewart Thornhill, managing director of the Zell Lurie Commercialization Fund and executive director of the Zell Lurie Institute. “We’re excited to see what is in store for PHASIQ and are confident that it will be a solid addition to our already strong portfolio.”
PHASIQ was founded by Shuichi Takayama, professor of biomedical engineering and macromolecular science and engineering at the University of Michigan. PHASIQ provides scientists and clinicians with a cost- and time-efficient way of identifying multiple proteins in one culture sample, giving them a holistic view of the overall picture of a person’s health. The startup intends to use the funds to automate its manufacturing process to allow for scalable production of the finished first product.
“Our technology has the potential to change the face of healthcare by providing scientists with the tools they need to exceed even their own expectations,” said Francis Glorie, CEO, PHASIQ. “We’re grateful that the Zell Lurie Commercialization Fund has recognized that notion and are looking forward to what’s in store for the future as we head into commercialization.”