Quantum Signal and Delphinus Medical Technologies Awarded MEGA Funding to Expand in Ann Arbor Area

Contact: Elizabeth Parkinson
734.761.9317

 

July 20, 2010 – ANN ARBOR, MICH.  –  Two southeast Michigan companies received high-tech, five-year MEGA tax credits today to help them expand in the region.  Delphinus Medical Technologies and Quantum Signal were approved today for MEGA tax credits from the Michigan Economic Development Corporation and the State of Michigan.

 

At its new facility in the Michigan Life Science and Innovation Center, Delphinus Medical Technologies will provide manufacturing, sales and service of its proprietary SoftVue system to hospitals and imaging clinics worldwide.

 

Delphinus Medical Technologies:

•   A spin out of the Karmanos Cancer Institute
•   Currently in the process of closing Series A funding for commercializing the breast ultrasound tomography technology
•   Plan to have the first scanner sale by the end of 2011
•   Projecting to secure over $6.4 million in investments at its facility in southeast Michigan
•   Received state tax credit for valued at $779,118

 

Quantum Signal is a spin out from the University of Michigan.  The company delivers advanced engineering research and development, including software modules, subsystems, and complete products that use mathematics to mine useful information from noisy or non-ideal datasets, including live video.  Quantum Signal also develops video games (under its “Reactor Zero” group) for the entertainment industry and “serious simulation” technology used primarily by the government.

Quantum Signal:

•   Has committed to investing $1.29 million over the next fieve years
•   Plans to create 47 high tech jobs in the region
•   As a part of its expansion, has plans to move a headquarter to Saline, Michigan
•   Received state tax credit valued at $206,083
 

Watch Governor Jennifer Granholm meet with both companies.

 

“The Ann Arbor region continues to be a magnet for growing, high tech companies,” said Ann Arbor SPARK CEO Michael A. Finney.  “Ann Arbor offers a truly unique combination of resources that make the region a fertile place to plant a business.  From a concentration of knowledge workers who desire the quality of life offered here to the business accelerator support offered through Ann Arbor SPARK, companies that locate here are afforded access to key drivers of success.”

 

ABOUT ANN ARBOR SPARK

Ann Arbor SPARK, a non-profit organization, is the driving force in establishing the Ann Arbor region as a destination for business expansion, retention, and location by identifying and meeting the needs of business at every stage, from startups to large organizations. Ann Arbor SPARK represents all communities in the Washtenaw County. Ann Arbor SPARK collaborates with business, academic, government, and community investor partners including the University of Michigan, Eastern Michigan University, Washtenaw Community College, Michigan Works!/ETCS, Washtenaw County, the City of Ann Arbor, the Bank of Ann Arbor and the Michigan Economic Development Corporation. For more information, please call (734) 761-9317 or visit www.AnnArborUSA.org.

 

ABOUT MICHIGAN LIFE SCIENCE AND INNOVATION CENTER (MLSIC)

Located in Plymouth, Michigan, MLSIC is part of the SPARK Regional Incubator Network. The goal of the Network is to assist early-stage companies as they work to establish and expand their enterprises within Southeast Michigan. MLSIC is a 57,000+ square foot life science incubator complete with state-of-the-art labs, well-appointed offices and conference rooms, a loading dock, ample parking, and every possible business amenity. Funding for MLSIC is made possible by a broad-based coalition. Partners in the venture include the Michigan Economic Development Corporation; Wayne County; a private foundation; Ann Arbor SPARK; the New Economy Initiative; and Plymouth Township.

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