NeuroNexus Technologies lands VC money, looking to hire 7

NeuroNexus Technologies' products may look to get into people's brains but the Ann Arbor-based start-up is definitely in its investors' heads.

The firm has just lined up $2 million in venture capital, including $1 million from Michigan's 21st Century Jobs Fund. The investment is expected to expand the company's employee base from 16 to 23 within the next few years.

NeuroNexus designs state-of-the-art microscale neural interface products for research and clinical treatment of chronic neurological disorders. That's fancy prospectus talk for a company that creates technology that can monitor brain function and stimulate neurological functions. It can also be used to deliver treatments.

The 4-year-old company is now self-sustaining and experiencing high growth. Well, growth fast enough to go from three unpaid personnel to a staff of 17 today. The company's revenues doubled between 2005 and 2007, and it is expected to double again this year.

NeuroNexus is focusing its growth on four areas – research products, clinical products, engineering and manufacturing and innovation and IP development.

Source: Michigan Economic Development Corporation
Writer: Jon Zemke

NeuroNexus Technologies lands VC money, looking to hire 7

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