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Ann Arbor Spark

June 27, 2007

Michigan Pre-Seed Capital Fund Update

Pre-Seed Fund makes 8th Investment

The Michigan Pre-Seed Capital Fund has approved its 8th investment for Phrixus Pharmaceutical Inc.  This Ann Arbor company is receiving funds from the BRCC and its founders.  The pre-seed funding is $100,000.

This brings the total investment amount made to date by the fund to more than $1.5 million.

The deal flow is very strong.  Four companies are currently being reviewed and evaluated by the Investment Review Board with at least two more companies finalizing their applications.