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Ann Arbor Spark

January 14, 2015

Armune Bioscience scores seed capital, grows Ann Arbor lab

Armune Bioscience recently landed $700,000 in seed capital and is looking to bring that number up to $2.5 million to complete its Series A round.

That money is going to go toward the commercialization of the 7-year-old company's cancer blood test, Apifiny, and the addition of more staff member. The company currently employs six people, two of which (both executive positions) were hired over the last year.

"We anticipate having several job openings in the second and third quarter of the year," says David Esposito, CEO of Armune Bioscience. "Four or so will be in our laboratory."

Armune Bioscience is developing an innovative, non-PSA blood test to aid in the early detection of prostate cancer. The startup plans to launch that blood test commercially later this year. The Kalamazoo-based company developed the product at its Ann Arbor lab where half of its staff works.

"We hope to have that on the market in the second quarter of this year," Esposito says.

Source: David Esposito, CEO of Armune Bioscience
Writer: Jon Zemke

Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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