A Year in Biomedical Commercialization

at the University of Michigan

2024 Annual Report

Fast Forward Medical Innovation

Dear Colleagues,

2024 marks 10 years since the launch of Fast Forward Medical Innovation (FFMI)! What started as one piece of a groundbreaking U-M initiative, now exists as a strong, proven, independent program. I couldn’t be more proud of FFMI’s development over the years and its positive impact on the U-M research community.

We are celebrating another standout year as FFMI continues to provide unparalleled expertise and unique offerings in education, business development, and funding resources to help U-M researchers realize their innovation and commercialization goals.

A main focus of FFMI is to build and maintain successful relationships between U-M faculty and industry. Our Business Development team excels in this area and is well-known for its ability to nurture and guide faculty to positive industry interactions. In 2024, we launched the new Collaborator Hub to showcase faculty to potential industry partners. This dashboard highlights project ideas, as well as lab and clinical assets, that may be of interest to companies.

The Commercialization Education team continues to strengthen its current, established offerings such as FFMI fastPACE and the Frankel Cardiovascular Center Innovation Program, expand a partnership program with the Rogel Cancer Center, and introduce a new partnership program with U-M Internal Medicine/Gastroenterology.

Funding is another critical piece of FFMI, and the Michigan Biomedical Venture Fund, a collaboration between FFMI and the Center for Entrepreneurship, has had an invaluable impact on life science startups with U-M-licensed intellectual property. The fund is a critical part of advancing biomedical breakthroughs via strategic investment and expertise, and this is apparent in its growing, successful portfolio.

Every year has brought exciting changes in FFMI programming and offerings built around supporting and advancing U-M innovative research. In 2025, we will challenge ourselves to exceed our past accomplishments as we continue to focus on pushing the boundaries of biomedical innovation with the goal of positive patient impact.

Best Regards,

“FFMI is an integral part of standardized commercialization education for medical technologies in the Michigan ecosystem, with flexible course structures available to faculty and fellows that open new and exciting avenues for professional fulfillment. I have been fortunate to participate in their programs and would particularly encourage trainees to join.”

“Working with FFMI has been career changing. Mike Ranella and the team have supported our big picture thinking and provided the necessary infrastructure to go after innovative partnerships with industry that are changing care delivery for birthing people and their families.”

"Early support from MBVF was critical to not only the initial financing of ONL Therapeutics, but provided a supportive network to pressure-test our plans and credible introductions to have other investors move to diligence quickly on the company. The MBVF team is strengthening the bio/med startup ecosystem around U-M and, importantly, making its impact seen and felt nationwide. They are spearheading innovation and helping attract capital from around the globe."

Into the Next Decade

“Innovation is a critical part of what makes the University of Michigan 'the Leaders & Best.' FFMI plays a key role in helping biomedical researchers develop and advance cutting-edge research and ideas that contribute to this success. Over the past decade, FFMI has grown into an important component in the biomedical innovation pipeline, and it will be exciting to watch the program continue to grow and build new paths to successful innovation at Michigan Medicine.”