This month, I want to highlight some exciting developments at the Life Science Research and Innovation Center. The Life Science Research and Innovation Center is a collaborative effort between the
Michigan Economic Development Corporation (MEDC), the Greater Wayne County Economic Development Corporation (GWEDC),
Ann Arbor SPARK, academic institutions and business leaders in southeast Michigan.
The Center, which used to house Pfizer, Inc, is located right here in Wayne County, in a 57,000 square foot building on eight acres of land located off M-14 in Plymouth Township. It is unique to the Midwest, connecting entrepreneurs in the life sciences industry and start-up companies with the assets to accelerate the development of new biomedical products.
Lycera Corporation is one of the many companies that have decided to locate at the Life Science Research and Innovation Center. Founded by Dr. Gary Glick as a spin-off from the University of Michigan, Lycera focuses on developing drugs for treating autoimmune diseases such as rheumatoid arthritis, psoriasis, inflammatory bowel disease, lupus, and transplant rejection.
Recently, Lycera closed on a $36 million venture capital funding deal. The company received the first $10 million and will receive the remainder in two installments as specific milestones are met. InterWest Partners, Clarus Ventures and Arch Venture Partners are participating equally in the financing. EDF Ventures, which provided seed financing, is also providing financial support.
Lycera's decision to locate at the Life Science Research and Innovation Center reflects Wayne County's renewed commitment to provide quality customer service to our investors, communities and other stakeholders. It also reflects a new model of economic development involving cooperation between government and the private sector. These partnerships are crucial to diversifying our economy and to accelerating the production of new goods and services that can be exported to the rest of the world.
We are expediting economic development projects like the Life Science Research and Innovation Center so that we can get ahead in the game of attracting new economy jobs to the County. With the full support of Wayne County Executive Robert Ficano, the
Economic Development Growth Engine (EDGE) is focusing on innovation, diversification, and partnership opportunities as we move forward with creating a positive business environment for our citizens.
Turkia Mullin is the Economic Development Growth Engine's Chief Development Officer.
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