Akadeum Life Sciences has landed seven figures worth of seed capital thanks to recently announced $1 million seed round for the Ann Arbor-based life sciences startup.
"It will help us build out our team," says Brandon McNaughton, CEO of Akadeum Life Sciences
The 1-year-old startup spun out of the University of Michigan by developing a platform that helps researchers prepare research and diagnostic samples faster and more efficiently. The buoyancy-activated cell sorting technology uses tiny floating spheres, which Akadeum is describing as "microbubbles," to acquire target cells from biological samples. Check out a video describing it here
"Our product goes into biological samples, like blood, and pulls out specific cells to improve research diagnostics," McNaughton says. "We do that using microbubbles."
Akadeum Life Sciences raised $150,000 from Michigan eLab
, an Ann Arbor-based venture capital firm, last year to kick start development. Michigan eLab led this latest $1 million seed round. Detroit Innovate
, Invest Michigan
, and University of Michigan MINTS
also participated in the round. Akadeum Life Sciences plans to raise a Series A next year.
Michigan eLab has pushed Akadeum Life Sciences to adapt lean startup methods, which is not normal practices for life sciences startups. That means Akadeum Life Sciences iteratively built its products to meet the needs of its users, working directly with them to develop products that address their specific problems. The startup is currently selling its technology to pharmaceutical and biotech firms, along with teams from research universities.
Akadeum Life Sciences currently employs four people, but McNaughton expects that number to grow over the next year. The startup plans to build out its sales and business development team as it grows.
Source: Brandon McNaughton, CEO of Akadeum Life Sciences
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.