Armune BioScience

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• Armune Receives Accelerate Michigan Innovation Competition $500,000 Grand Prize

  Armune BioScience was awarded the 2010 Accelerate Michigan Innovation Competition $500,000 grand prize. This is an annual event that will be held in 2011 on November 15-17.

Armune News

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KALAMAZOO-BASED START UP WINS $500,000 FIRST PLACE IN BUSINESS PLAN COMPETITION

KALAMAZOO, MI, Monday, December 13, 2010.....Armune BioScience, Inc., a Kalamazoo-based life science start-up company with laboratories in Ann Arbor, was awarded the first place prize of half a million dollars Saturday in the Accelerate Michigan Innovation Competition.

Armune was one of 50 semi-finalists to present their business plans on Thursday and Friday last week, and was one of the ten finalists chosen to compete on Saturday. There were more than 600 entrants in the annual international competition designed to highlight innovation and business opportunities in Michigan.

Armune BioScience is developing more accurate, less invasive diagnostic tests for prostate, lung and breast cancers. Armune's technology is based on research done at the University of Michigan by Dr. Arul Chinnaiyan. The company's CEO is Eli Thomssen, partner in the Apjohn Group, a Kalamazoo-based business accelerator which founded Armune.

Thomssen said that the Accelerate Michigan award will not only support Armune research and the implementation of a marketing plan, but will also be a sign to other prospective investors of the potential of the company's technology.

"This recognition by Accelerate Michigan is very gratifying to the Armune team, and a validation of the confidence placed in us by the Michigan Economic Development Corporation, the BRCC at Western Michigan University, Ann Arbor Spark and a group of angel investors," Thomssen said. "The award comes at a critical time in our development a product for diagnosis of prostate cancer. We are most grateful and proud."

"We congratulate all the companies and students this year for demonstrating their competitive entrepreneurial spirit," said Dave Enger, Executive Director of the New Economy Initiative for Southeast Michigan. "Armune BioScience and Regenerate topped a list of nearly 600 outstanding businesses and students that initially entered the competition. These companies demonstrate how the entrepreneurial ecosystem continues to grow and thrive in a state that was built on the foundation of innovation."

Regenerate, comprised of students from the University of Michigan, won the top prize of $25,000 in the student competition for their Compact Organic Waste System.

For Further Information, Please contact Eli Thomssen at 269.491.6431