NEW YORK, June 01, 2017 (GLOBE NEWSWIRE) -- Mid Atlantic Bio Angels (MABA) announces today that Recensa Therapeutics (, which is developing a topical psoriasis treatment designed to reduce oxidative stress, was named “Best in Show” by the audience and “Most Fundable” by the investor panel at MABA's 1st Pitch Life Science event held on May 25, 2017 at Rockefeller University in New York City.

Recensa Therapeutics was also names one of the Best University Startups 2017 at NCET2's 2nd University Startups Demo Day.

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Holland-based Shoulder Innovations LLC, an early stage developer of shoulder replacement systems, has closed on a Series A funding round of $1.5 million.

The round was led by the Ann Arbor-based Michigan Angel Fund and joined by Grand Rapids-based Start Garden; Detroit-based Invest Michigan, a nonprofit funded by the Michigan Economic Development Corp. to invest in early stage companies; Missoula, Mont.-based Genesis Innovation Group LLC and Western Michigan University's Biosciences Research Commercialization Center.

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$5M venture capital firm formed at MSU

EAST LANSING – The Michigan State University Foundation has launched Red Cedar Ventures, a $5 million venture investing subsidiary to help MSU start-ups that are on the cusp of market launch.

“We want to signal to the investment community that we are willing to commit resources to make sure the technologies that come from MSU are successful,” said David Washburn, executive director of the foundation.

Red Cedar Ventures would invest a minimum of $250,000 in businesses created by students and faculty to help get their products or services onto the market.

It is among the first venture capital firms in the Lansing region. The Michigan State Medical Society set up a $1.5 million healthcare-based venture fund, Quantum Medical Concepts, in 2014 in Lansing. Most venture capital firms in the state, however, are based in Detroit or Grand Rapids.

Greater Lansing has a slew of incubators that will help entrepreneurs prepare to launch a business. It also has a few accelerators, some of which invest up to $20,000 to develop prototypes for full market production. But, for start-ups that require at least $100,000 to get to market, there aren’t many options locally.

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Behind the scenes, NUtech Ventures connecting research with commercialization

Earlier this year, a study published in the journal Nature Photonics by a University of Nebraska-Lincoln researcher described a material four times more sensitive to X-rays than the compound used in leading commercial detectors.

The crystalline methylammonium lead tribromide, a heavy atom capable of absorbing more high-energy photon X-ray particles, would be capable of reducing the exposure to X-ray radiation by as many as 11 times, UNL’s Jinsong Huang found.

Funded jointly through the U.S. Department of Defense, National Science Foundation and the European Research Council, Huang and UNL postdoctoral researchers Haotong Wei and Yanjun Fang have landed a major breakthrough.

The material could make medical imaging for broken bones or CT scans safer and improve security stations at airports. Its practical uses have gained the attention of multiple medical imaging companies seeking to license the technology to build a better X-ray machine.

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Syngenta, Bayer Try ‘Open Innovation’ to Find Next Big Agtech Idea

Xconomy Raleigh-Durham — Agriculture is a more technical business than many people realize. Consider modern farm equipment: A John Deere tractor today contains more lines of code than a Boeing 747 jetliner, according to Syngenta’s Rick DeRose.

Big agriculture companies like Syngenta (NYSE: SYT) are now coming to a realization of their own: Not all of the new agtech innovations can come from their own labs or startups that have long fed the pipelines of big ag companies. The industry is expanding its technology scouting beyond M&A deals. Some companies are turning to early-stage research—some of it outside of the agriculture sector—in their search for agtech innovation.

“I think we’re getting more comfortable with the idea that we don’t know what we don’t know,” DeRose said.

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