Blaze Medical Devices, an Ann Arbor, Michigan-based company that develops spectral analysis for red blood cells, has received funding from the Michigan Pre-Seed Capital Fund.
The company intends to use the funding to expand its commercialization efforts.
Led by David Weaver, CEO, Michael Tarasev, COO, and Kenneth Alfano, CTO, Blaze is developing a line of products for rapid and easy testing of stored blood properties relating to quality loss during storage. The company collaborates with transfusion medicine clinicians to study correlations of its testing approach with the prospective transfusion efficacy (or loss thereof) for particular units of blood, thereby providing clinicians and blood bankers with a new tool for enabling better-informed decisions – which can ultimately improve patient outcomes and reduce healthcare costs.
The Michigan Pre-Seed Capital Fund is an equity investment vehicle that receives the same returns as the third party investor. These returns will be then redeployed as first round capital to other start-ups.