Ann Arbor SPARK has announced a strategic investment of $200,000 in Flightpath Biosciences, Inc. This investment is part of the company’s Series A round, making it the fifth investment driven by the Michigan Innovation and Commercialization Fund (MICF). Ann Arbor SPARK, through the MICF, will strategically allocate $5 million over 2.5 years, co-investing at least $1.5 million alongside other funds into promising tech-focused companies.
Flightpath, a leader in the biotechnology sector, is currently finalizing its $8 million Series A Preferred Stock financing round. SPARK Capital has recognized significant potential in Flightpath, reminiscent of past successes in life sciences investments. Founded in 2019, Flightpath is developing FP-100 (Hygromycin A), a groundbreaking narrow-spectrum antibiotic aimed at treating serious bacterial infections like Lyme disease, without compromising the gut microbiome.
Co-investing in this round are the two preeminent US foundations dedicated to combating Lyme disease. Flightpath’s leadership includes seasoned biotech entrepreneurs Matt Tindall, Mark De Souza, PhD, and Curtis Scriber, MD, PhD, whose combined expertise is poised to drive significant advancements in medical treatment and patient care.
Mike Flanagan, vice president of Capital Programs at Ann Arbor SPARK, commented on the investment, stating, “The life sciences sector in Michigan continues to see the formation of great start-ups like Flightpath, which has an amazing team and technology that they’re advancing into human clinical development. We are proud to support trailblazing work that not only addresses critical health challenges but also promises the potential for significant returns, that we can reinvest in new start-ups.”
Echoing this sentiment, Matt Tindall, CEO of Flightpath Biosciences, shared, “Ann Arbor SPARK’s support has been instrumental in our journey. Their belief in our mission and vision has enabled us to leverage Michigan’s rich resources and dynamic talent pool to innovate and grow. We are thrilled to be part of this vibrant ecosystem that is increasingly becoming a hub for biotechnology advancements.”
This investment highlights SPARK Capital’s mission to support great entrepreneurs and innovations, and it also strengthens Michigan’s position as a leader in the biotechnology industry. Ann Arbor SPARK continues to play a crucial role in driving economic development and technological innovation in the region.
