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Medical Alley Association serves the individuals and organizations that comprise Minnesota's health industry by influencing policy, fostering connections and providing critical intelligence to improve the quality of health around the world.

Medical Alley Association serves the individuals and organizations that comprise Minnesota's health industry by influencing policy, fostering connections and providing critical intelligence to improve the quality of health around the world.

Investment Profile: Stemonix

Stemonix has made significant progress in forming a world-class team, scaling manufacturing techniques and meeting key milestones in less than two years. StemoniX is an early-stage regenerative medicine diagnostic company focused on producing high-volume 2D and 3D stem cell-derived human tissue for custom drug discovery and personalized medicine applications.

“A critical thing to do as an entrepreneur is to really discover your company's product market fit and lean startup methods are quite effective at that. By talking to customers early we were able to pivot before expending capital” offered Ping Yeh, the founder and CEO of StemoniX . Yeh's approach translated to $3M of funding and partnerships to achieve their mission of accelerating the discovery of new cures.

Stemonix Logo

 

“We vaulted Stemonix forward by partnering with the best expertise - regardless of geography” commented Yeh. “We are a Minnesota company with R&D in San Diego. In the next 6 months, we are going to be scaling our manufacturing and there are few places better to do that than MN.” Yeh continues, “There is great value in being able to take the knowledge and connections we've established and merge them with the medical manufacturing expertise that exists locally.”

“Minnesota has an underappreciated regenerative medicine ecosystem,” said Yeh, explaining his reasoning for establishing the company in Minnesota. “There is a strong commitment from the state to invest in building out an ecosystem that supports the diversity of technologies and business models. Additionally, there is talent coming out of the University of Minnesota and it’s home to leading organizations in transplant medicine such as Be the Match.”

View the 2015 Annual Investment Report