Franklin Lakes, NJ (February 7, 2011) – BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, announced today that it signed a definitive agreement to acquire Accuri Cytometers, Inc., an Ann Arbor,  Michigan-based company that develops and manufactures personal flow cytometers for researchers. The acquisition is subject to regulatory approvals and is expected to close during the third quarter of fiscal year 2011. The financial terms of the agreement were not disclosed.

Consistent with BD’s acquisition strategy, the acquisition would expand BD’s presence into the emerging affordable personal flow cytometer space. It would also help expand the use of flow technology by researchers in developing regions where ease of use is critical, as well as by researchers in scientific disciplines that have not traditionally used flow cytometry, such as environmental studies.

“Accuri Cytometers’ offering of flow cytometers for a new audience of researchers will complement and broaden BD’s current offerings for life scientists,” said Vincent A. Forlenza, BD President and Chief Operating Officer. “We believe that, once completed, this acquisition will enable BD to further contribute to medical and scientific advances, in line with our corporate purpose of helping all people live healthy lives.”

“Making flow cytometry more accessible to a wider audience of scientists and clinicians is one aspect of our Cell Analysis growth strategy,” said William Rhodes, President, BD Biosciences. “With its small footprint, ease of use and affordable price, the Accuri flow cytometer enables the adoption of flow cytometry by a broad range of researchers whom BD does not currently serve.”

ANN ARBOR, Mich.—Celebrating “A Year of Exits”, the Michigan Venture Capital Association held its annual awards dinner for its members and guests November 15 in Ann Arbor.  The statewide membership organization honored several Michigan venture firms as well as venture capital recipient companies for their successes:

• MVCA “Michigan 100” Award winner Cerenis Therapeutics of Ann Arbor, for raising over $100 million in venture capital;
• Michigan’s new venture firms: Huron River Ventures, Michigan Accelerator Fund Management, and Resonant Ventures;
• Multiple venture capital investment exits, both non-Michigan companies with Michigan venture investors and Michigan-based companies:

o   LenSx Lasers (Venture Investors)

o   Greenplum (EDF Ventures)

o   ZyStor (Apjohn Ventures & Venture Investors)

o   CardioMEMS (Arboretum Ventures)

o   Ikano Therapeutics (Apjohn Ventures)

o   Arbor Networks (EDF Ventures)

o   HandyLab (EDF Ventures, Wolverine Venture Fund, Arboretum Ventures, Ardesta Capital, Dow Venture Capital)

Jeff Williams, former CEO of HandyLab and current CEO of venture-backed Accuri Cytometers, was named MVCA Entrepreneur of the Year.

“The wind is in our sails,” stated LeAnn Auer, Executive Director of the MVCA, in her remarks before the dinner.  “It’s been a year of exits, as many of our venture capital firms have successfully exited portfolio companies located both here in Michigan and elsewhere.  In addition, venture capital financings have already exceeded 2009 levels.  These successes bode well for future growth in our community.  I’m looking forward to this year’s celebration.”

The Michigan Venture Capital Association will also announce its 2011 Board of Directors:

• Ron Reed (Chairman), Managing Director, Seneca Partners
• Tom Kinnear (Vice-Chairman/Treasurer), Managing Director, Zell Lurie Institute at U-M Ross School of Business
• Tim Petersen (Vice Chairman/Chairman-Elect), Managing Director, Arboretum Ventures
• Uzma Ahmad (Board Secretary), Attorney, Dykema Gossett PLLC
• Jim Adox, Managing Director, Venture Investors
• Jeff Bocan, Managing Director, Beringea
• Hugo Braun, Co-Founder, North Coast Technology Investors
• Greg Main, President & CEO, Michigan Economic Development Corporation
• John McIlwraith, Managing Director, Allos Ventures
• Chris Rizik, CEO & Fund Manager, Renaissance Venture Capital Fund
• Skip Simms, Managing Director, Ann Arbor SPARK
• Mina Sooch Partner, Triathlon Medical Ventures; Managing Director, Apjohn Ventures
• Jody Vanderwel, President, Grand Angels
• Ken Van Heel, Director, Alternative Investments & Venture Capital, Dow Chemical Company
• Donald Walker, Managing Director, Arbor Partners

About the MVCA

The MVCA is a trade organization designed to bring together venture capital industry participants in the state of Michigan.  The organization’s goal is to grow and sustain a vibrant venture capital community in Michigan.  Membership includes private venture capital funds, corporate venture capital funds, private equity firms, angel investors, and entrepreneurial infrastructure participants.  The MVCA is a vehicle to bring together industry participants and to provide a concerted voice for Michigan’s venture capital industry.  www.michiganvca.org

“The tourists have left.”  That’s how National Venture Capital Assn. President Mark Heesen describes the pared down U.S. entrepreneurial ecosystem after several years of tough exit markets, low returns, and an abysmal fundraising environment.  Further, he expects the fallout from the dot-com bust and its effects on the venture capital community to continue through 2011, as the last of the weak VC players retreat from the industry.

Heesen did have some good news for Michigan’s venture community–the exit market is picking up, with a record number of acquisitions this year and the expectation that that number will climb after the midterm elections.  Fundraising should pick up accordingly, as existing LPs start receiving long-awaited checks and become more optimistic about the asset class.  He also shared a prediction that our state will become one of the most important state’s in the country if Republicans gain control of the U.S. House of Representatives, as Reps. Fred Upton (R–6th District) and Dave Camp, (R–4th District) are poised to take leadership roles on powerful House committees.

Finally, Heesen touted the importance of regional venture funds as locally sourced deals become a key differentiation point in Silicon Valley.  He expects a continued increase in first-time funds and early stage funds, as smaller LPs previously frozen out of the asset class squeeze in.  He said the NVCA is carefully monitoring the European directives that will restrict European money invested into U.S. funds and foreign venture investments in European companies, an issue so important its passage could lead to a U.S./Europe trade war.