2021 FFMI Impact Report

A Year in Biomedical Commercialization at the University of Michigan

2021 Annual Report

Fast Forward Medical Innovation

Dear Colleagues,

In 2021, biomedical innovation at Michigan Medicine continued to set records and reach new heights. FFMI was at the forefront of these achievements by serving as the front door to the wealth of innovation resources at the University of Michigan Medical School.

With biomedical research playing a key role in fighting the pandemic, getting therapeutics and technologies from “bench to bedside” became more important than ever. FFMI was there every step of the way, acting as an innovation pipeline that offers funding, education, and business development resources to help U-M researchers navigate the road to successful innovation and commercialization.

The backbone of FFMI is the commitment and willingness to tackle challenges and improve our programs and offerings for our faculty, trainees, and students, as well as external partners from industry and other sectors. We strive to create an environment and culture that nurtures technologies and supports life science innovation, commercialization, and entrepreneurship.

I am extremely proud of the Fast Forward Medical Innovation team for their dedication to adjusting to a virtual work world in order to continue helping biomedical researchers move their innovative projects to positive patient impact. I invite you to browse our 2021 Annual Report.

Best Regards,

Industry Partnerships

Fiscal Year 2021 metrics reflect activity across the U-M Medical School.

205 invention reports

$138.3 million in industry research awards

10 new business startups

182 license/option agreements

1,382 industry awards

Participant in Business Development and FFMI fastPACE

“The FFMI Business Development team provided me with incredible collaboration and support. They helped me establish a relationship for U-M with a leading consortium, connect with outside industry, navigate business matters, and explore other Fast Forward Medical Innovation initiatives/training for start-up projects in my lab. In short, FFMI has had a huge impact on my research and career advancement, as it related to translational and clinical oncology work.”

Commercialization Education

More than $40 million in follow-on funding awarded to date for teams that have gone through an FFMI education program.

32 commercialization education programs serving biomedical innovators across U-M, and across the state, region, and nation.

More than 4,000 participants enrolled in commercialization education programs, to date.

33 institutions across the state, region, and nation (outside U-M) that have participated in FFMI fastPACE including Mayo Clinic, Northwestern University, University of Pittsburgh, Ohio State University, Columbia University, UC San Diego, and more.

Participant in FFMI fastPACE, Kickstart funding, MTRAC funding, Business Development

“FFMI fastPACE offered guidance and insight into the business side of commercializing our research in cancer targeting. We are using CRISPR technology to identify, and precisely correct, chromosomal aberrations in cancer cells. The information we learned from FFMI fastPACE was invaluable and taught us what we needed to do to move our project along and bring this novel therapeutic approach to cancer patients.”

Funding & Mentorship

$3 million awarded in second round of $20 million Frankel Innovation Initiative.

$2 million annual MTRAC for Life Sciences Innovation Hub funding statewide.

$82.1 million in follow-on funding for MTRAC since 2014 launch.

30 MTRAC startups since 2014 launch.

Participant in FFMI fastPACE, MTRAC funding, Frankel Innovation Initiative

“Funding from the Frankel Innovation Initiative and MTRAC for Life Sciences Innovation Hub has been crucial to further our research in treating premature ovarian insufficiency. It enables us to optimize the design of our immunoisolating capsule for transplantation of human donor ovarian tissue that delivers hormones produced in the ovary and restores physiological ovarian endocrine function.”

Michigan Biomedical Venture Fund

13 portfolio companies since launch (1 exited).

12 out of 13 companies have received follow-on funding/co-investments.

$21 of follow-on funding for every $1 of Michigan Biomedical Venture Funding.

$56.84 million of follow-on funding for all companies combined.

Participants in MTRAC funding (2), Business Development, Michigan Biomedical Venture Fund

“The investment from the Michigan Biomedical Innovation Fund was an important milestone as we were establishing our company, EVOQ Therapeutics. The funding helped us move towards our goal of developing effective immunotherapies for people suffering with autoimmune diseases.”

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