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Impact Analytical Closes on a $3 Million Funding Round

Friday, December 15, 2017   (0 Comments)
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Impact Analytical Inc., a Midland-based company that provides testing services for the pharmaceutical, plastics, consumer products and specialty chemical industries, closed on a venture-capital funding round last week of $3 million from Ann Arbor-based North Coast Technology Investors LP.

The company was founded in 2006 by the Michigan Molecular Institute, a nonprofit founded in 1972 by Herbert Doan to promote research of advanced composite materials and polymer technology. The institute eventually spun off several companies as it started to focus on commercializing some of its technologies.

Doan, grandson of the founder of Dow Chemical Co., Herbert H. Dow, was the last member of the family to run the company. He was president and chief executive of the company from 1962 to 1971 and died at age 83 in 2006.

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