Threefold Sensors to hire 8, fueled by state funding

metromode, 1/31/2008

Imagine a blood test that quickly and easily lets health care providers know whether you've had a heart attack, one that would enable proper treatment for those in need and a quick trip back to the comfort of home for folks with a false alarm.

Ann Arbor-based Threefold Sensors/IA Inc. has developed just such a test, providing results in six minutes, compared to existing products that take one to four hours, says Judith Erb, CEO. A $400,000 loan from the state's Company Formation and Growth Fund will help Threefold bring their revolutionary product closer to market.

The latest round of the Michigan Strategic Fund's financing, announced last week, will also enable Threefold to create eight new jobs. The fund is aimed at retaining employees from the soon-to-be-defunct Pfizer Pharmaceuticals facility in Ann Arbor.

"We're in an expansion phase right now," Erb says.

The eight positions, she says, will be added over the next two years, and will encompass jobs in research and development, quality control and clinical testing.

"We expect it to be on the market in about two years," Erb says. "We have to do FDA testing, also working on what's currently a working engineering protoype to meet all the requirements to be used in an emergency room."

Source: Judith Erb, Threefold Sensors
Writer: Nancy Kaffer

Biotechnology , Healthcare

Ann Arbor