Life Sciences & Health Care
You are here
Ann Arbor’s life sciences sector has seen steady growth over the past decade. We’ve always been an innovator in the biotech industry. The heart-lung machine used in the first heart transplant was developed and manufactured here.
Since then, the life sciences sector has expanded to include pharmaceuticals, medical devices, diagnostics, and bioinformatics. The sector includes 100 plus firms and employs 3200 people. The largest employer, Terumo Cardiovascular, employs 600 in the manufacture of cardiovascular equipment.
Area life science firms are well-funded by venture capital: In 2016, Millendo received $62B toward developing a cancer drug; Cerenis Therapeutics received a total of $148M to develop biotherapies to increase HDL cholesterol.
The region is home to three hospital/medical center complexes: The University of Michigan Health System, the VA Ann Arbor Healthcare System, and St. Joseph Mercy Health System. Together they employ over 31,000 people.
The University of Michigan Hospitals and Medical Center are consistently found on the U.S. News and Business Report’s Best Hospitals Honor Roll. The University’s $1.3B research budget is the second largest in the country. The $450M from National Institute of Health and $80M from the National Science Foundation fund research result in new start-up firms and new technologies.
The Ann Arbor region has wet and dry lab space to house growing firms. The MI-HQ is a private-sector tech incubator that offers shared office space and well-equipped wet and dry lab space.