October 29, 2004

IPO Yields Payoff for U. of Michigan and Student Venture Capitalists

By GOLDIE BLUMENSTYK

Well, they can't all be Google.

Nonetheless, there were few complaints from the University of Michigan this month when the IntraLase Corporation held its initial public offering with its stock selling at $13 a share. Both the university and a venture-capital fund run by its M.B.A. students held equity in the company.

IntraLase makes short-pulse lasers, which are useful in Lasik eye surgery because they are so precise. The laser-surgery approach was developed at Michigan's Center