Life Magnetics spins out of U-M, lands investment from Arboretum Ventures

Wednesday, August 4, 2010 | Source: Concentrate
Life Magnetics was a combination of technology and an idea to commercialize it before Arboretum Ventures gave both a chance at life earlier this month.

The Ann Arbor-based venture capital firm invested an undisclosed amount in the University of Michigan spin-off. The two-person start-up will use the funds to begin clinical testing on an infection test and build out its management team to 5-10 strong over the next year.

"This money is helping us launch the company," says Brandon McNaughton, founder and chief technology officer of Life Magnetics. "We're looking for some laboratory space now."

Life Magnetics' technology provides a rapid diagnostic test for bacterial infections, providing both the identity of the bacteria and recommendation of an antibiotic for treatment.

"What that translates to is you get the best antibiotic as soon as possible," McNaughton says.

Source: Brandon McNaughton, founder and chief technology officer of Life Magnetics
Writer: Jon Zemke
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Biotechnology, Higher Education, Investment, Life Sciences, Medical Research, University Of Michigan, Venture Capital 

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