Molecular Imaging Research receives $7M in seed funding, plans 7-10 jobs in Ann Arbor

Molecular Imaging Research has raised $7 million in seed capital and plans to use that cash to expand its presence in Ann Arbor.

The Ann Arbor-based company got its start in 2003 and was acquired by Charles River Laboratories in 2008. It recently became independent again through a $7 million round of venture financing led by Baird Venture Partners and Arcus Ventures.

"It created the perfect opportunity for two other investors to come in and relaunch the company," says Tom Ludlam, president & CEO of Molecular Imaging Research.

Molecular Imaging Research, commonly referred to by its acronym MIR, has 14 employees developing in vivo preclinical imaging of small animals -- technology used by pharmaceutical, biotechnology and medical devices companies. Ludlam expects MIR to hit between $2 million and $2.5 million in revenue within the next year, along with hiring another 7-10 people.

"The company will be investing and expanding on the tools it uses and the tools it plans to use," Ludlam says.

Source: Tom Ludlam, president & CEO of Molecular Imaging Research
Writer: Jon Zemke

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Molecular Imaging Research receives $7M in seed funding, plans 7-10 jobs in Ann Arbor

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