DeNovo Sciences is in the final stages of commercializing its first products and is preparing to make it first sales soon.
The 3-year-old startup is developing a platform for early detection of cancer from blood as an alternative to painful biopsies. It has spent the last year going through clinical testing, primarily for its breast- and colon-cancer-detection products. It plans to debut two of its instruments later this fall at trade shows.
"We are really excited about it," says Kalyan Handique, president & CEO of
DeNovo Sciences. "We hope to start taking orders from them early next year."
DeNovo Sciences launched out of Ypsilanti and is now operating out of the
Michigan Life Sciences and Innovation Center, which is managed by Ann Arbor SPARK, in Plymouth. It currently employs six full-time employees, eight part-timers and three summer interns. It has hired one person, an engineer, over the last year.
The startup took first place, which was worth $500,000 in seed capital, at the
Accelerate Michigan Innovation Competition two years ago. It has raised $1.75 million in seed capital from angel investors last year. It is currently looking to raise $6 million in a Series A round from venture capitalist next year.
"It's looking good," Handique says. "It's like what we planned."
Source: Kalyan Handique, president & CEO of DeNovo Sciences
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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