Cure
Overview
The Minneapolis-St. Paul region is experiencing a lot of growth in the biotech and life-sciences industry. Here are eight of the biggest biotech companies with connections to the area.
Minneapolis–St. Paul biotech and broader life sciences industry has been growing in terms of employment, company growth, investment, and ecosystem development. When it comes to innovation, Minnesota companies’ average FDA premarket approvals are over six months faster than average, reports the Minneapolis Saint Paul Regional Economic Development Partnership.
The life sciences workforce in the region has grown about 17% since 2017, while vacancies in the sector have dropped into the low single digits, according to the 2023 Life Sciences Report. Jeff Steinle and Ryan Johnson, Co-Chairs, at Life Sciences practice say the Twin Cities region benefits from a dense concentration of major corporate headquarters like Medtronic, Abbott, and Biotechne, innovations spinning out of University of Minnesota and the Mayo Clinic together, and provider systems that collaborate with industry on innovation.
“From a capital raising perspective, the Twin Cities also has a good portion of early-stage individual investors and family offices who know and appreciate biotech and are interested in investing in companies that both provide good potential for an economic return as well as the potential to improve health care,” says Steinle. “Local and national VCs also recognize that the Twin Cities isn’t just flyover country. Investors recognize that great ideas and successful companies come out of Minnesota.”
While medtech has been particularly successful in the region, Johnson notes that, “There is also significant activity and opportunity in agricultural and food-related biotechnology, leveraging the region’s legacy strengths and supply chain networks.”
Companies that bridge software and biotech, such as those providing digital health solutions, diagnostics, and data analytics, are also highlighted as successful and growing, he notes. “Firms that successfully leverage partnerships with local headquarters and corporate venture groups for pilots, procurement, and business development are particularly well-positioned for success.”
We’ve curated a list of Minneapolis–St. Paul biotech and life science companies making an impact in the space.
Cell Culture Company
Sector: Cell culture systems, cell banking, protein production, and bioprocess tools used by pharma, diagnostics, and research partners
Year Founded: 2016
Origin Story: In 1990, the company originated as the National Cell Culture Center (NCCC), to alleviate the shortage of facilities and expertise required to meet the cell culture needs of the biomedical research community. It later evolved into the current Cell Culture Company, which focuses on providing scalable cell culture services and products for research and biotech.
Key Leaders: Rebecca Thompson, PhD, Chief Executive Officer; Teresa Markoe, MS, Chief Financial Officer; Curt Gleiter, Vice President, Technical Services; Daniel Bauer, Director of BioProduction
Number of employees: 11-50
Stage: Privately held company
Financial Snapshot: The company has raised 13.5 million in revenue.
Key Products: The company provides cell line characterization services as well as cell banking and storage.
Recent Highlights: In 2016, the company was awarded a therapeutic contract by a Chinese biopharma company to produce a clinical-grade antibody-based therapeutic vaccine targeting pancreatic cancer.
Bio-Techne Corporation
Sector: Life science reagents, instruments, and services for the research, diagnostic, and bioprocessing markets
Year Founded: 1981 (founded as R&D Systems) 2014 (name changed)
Key Leaders: Kim Kelderman, President and CEO; James Hippel, EVP and CFO; Gary Latham, VP and Chief Technology Officer
Number of Employees: ~3,000
Stage: Public company
Financial Snapshot: Bio-Techne Corp annual revenue for 2025 was $1.22 billion, a 5.23% increase from 2024.
Key Products: ELISA; Simple Plex; RNAscope
Recent Highlights: In July 2024, the company announced participation in Spear Bio’s $45 million Series A funding round, to help further accelerate product development and scale its in-house manufacturing capacity.
CVRx Barostim
Sector: Cardiovascular neuromodulation
Year Founded: 2001
Key Leaders: Kevin Hykes, President and CEO; Jared Oasheim, CFO; Philip B. Adamson, Chief Medical Officer
Number of Employees: ~255
Stage: Public company
Financial Snapshot: In May 2025, the company-reported total revenue for the first quarter 2025 was $12.3 million, an increase of 15% over the prior year quarter.
Key Products: The company's Barostim, often called Barostim Baroreflex Activation Therapy, is an implantable neuromodulation device used primarily to treat heart failure and uses reduced ejection fraction (HFrEF).
Recent Highlights: In December 2023, the FDA expanded labeling of Barostim based on long-term clinical data from the BeAT-HF trial. Then, in October 2024, the American Medical Association CPT Editorial Panel accepted that CVRx presented real-world evidence showing significant reductions in hospital visits after Barostim implantation.
Abbott Laboratories
Sector: Medical devices, diagnostics, pharmaceuticals, nutrition
Year Founded: 1888
Origin Story: Founded in 1888 in Chicago by Dr. Wallace C. Abbott, who began formulated dosimetric medicine granules at the back of his drugstore. Abbott Laboratories Life Science Campus in the Minneapolis area consists of multiple buildings that include cGMP‑certified lab and manufacturing space, offices, and distribution/warehouse space. The company’s acquisition of St. Jude Medical in 2017, solidified one of Minneapolis’s largest device companies focused on cardiovascular and neuromodulation products.
Key Leaders: Robert B. Ford, Chairman and C; Philip P. Boudreau, EVP and Chief Financial Officer
Number of Employees: ~115,000
Stage: Public company
Financial Snapshot: As of February 2026 Abbott Laboratories’ market cap was $190.44 billion.
Key Products: FreeStyle Libre continuous glucose monitoring (CGM) system; Aveir DR leadless pacemaker; TriClip; Tendyne mitral valve system
Recent Highlights: In November 2025, Abbott agreed to acquire Exact Sciences (maker of Cologuard) in a deal valued near $21 to $23 billion, its largest since the St. Jude Medical acquisition to expand its diagnostics and cancer screening offerings.
Francis Medical
Sector: Minimally invasive oncology devices
Year Founded: 2018
Origin Story: After founder Michael Hoey lost his father to prostate cancer, he wanted to develop alternatives to traditional prostate cancer treatments that have less side effects.
Key Leaders: Michael Kujak, MBA, President and CEO; Michael Hoey, PhD, Founder and Chief Technology Officer; Christopher Dixon, MD, Chief Medical Officer
Number of Employees: ~50
Stage: In early 2025, the company completed an $80 million Series C round.
Financial Snapshot: Total funding raised ~$150 million across multiple rounds.
Notable Investors: New Day Venture Capital; Arboretum Ventures; Coloplast; Tonkawa Investments; Orlando Health Ventures; H2Oey Ventures;
Key Products: The company’s primary product is the Vanquish Water Vapor Ablation System, a transurethral, outpatient procedure that uses sterile water vapor energy to ablate targeted prostate tissue. The intent is treating localized prostate cancer with reduced side effects compared to surgery or radiation.
Recent Highlights: In February 2025, Francis Medical completed enrollment in the VAPOR 2 pivotal clinical study for Vanquish targeted prostate cancer ablation, positioning the company toward 510(k) clearance filing.
Neuromics Inc.
Sector: Human cells, reagents, antibodies, biomaterials, and tools for neurological research and drug discovery
Year Founded: 2003
Origin Story: Pete Shuster founded the company to create high-quality reagents initially focused on neuroscience research like antibodies. Over time, the company expanded to add human primary cells, iPSC-derived cells, fetal bovine serum (FBS), defined media, and more.
Key Leaders: Pete Shuster, CEO and Owner
Number of Employees: 1-10
Stage: Privately funded
Key Products: Primary human cells and engineered variants (e.g., Cas9 stable, GFP/RFP-expressing, iPSC-derived cells) used in drug discovery and cellular assays and Fetal Bovine Serum (FBS) & defined media for cell growth and assay optimization.
Recent Highlights: The company regularly adds new engineered cells and reagents to meet evolving research needs.
Luminary Therapeutics
Sector: Allogeneic engineered CAR T-cell therapies for cancer and autoimmune diseases
Year Founded: 2019
Origin Story: The company was founded to address limitations of existing CAR T-cell therapies, such as high cost, manufacturing barriers, and limited success in solid tumors and autoimmune diseases.
Key Leaders: Jeff Liter, MBA, CEO and Founder; Beau Webber, PhD, Chief Science Officer and Founder; Branden S. Moriarity, PhD, Chief Innovation Officer and Founder; Matthew Spear, MD, Medical Consultant
Number of Employees: ~8
Stage: Series B
Financial Snapshot: As of February 2026, the company has raised ~$14.8 million.
Notable Investors: Grant award from Advanced Research Projects Agency for Health (ARPA-H); grant from ScaleReady; Myeloma Investment Fund; Lateral Capital
Key Products: LMY-920 (BAFF-CAR), allogeneic CAR T for B-cell malignancies like Non-Hodgkin Lymphoma, Multiple Myeloma, and CLL and Gamma-delta CARs targeting solid tumors (renal carcinoma, esophageal cancer, lung/colorectal).
Recent Highlights: In March 2025, the company received ARPA-H funding award (~$5.8M) to develop a mesothelin-targeted CAR T program for solid tumors (non-small cell lung and colorectal cancers).
DiaMedica Therapeutics, Inc.
Sector: Therapeutics for ischemic and vascular diseases with focus on preeclampsia, fetal growth restriction, and acute ischemic stroke
Year Founded: 2000
Origin Story: The company was formed to focus on advancing innovative therapeutic proteins derived from human biology, especially kallikrein-based approaches. However, it eventually expanded to broader clinical applications including preeclampsia and fetal growth restriction.
Key Leaders: Rick Pauls, President and CEO; Julie Krop, MD, Chief Medical Officer; Ambarish Shah, PhD, Chief Technology Officer
Number of Employees: ~30
Stage: Public company
Financial Snapshot: As of February 2026, the company’s market cap is $437 million.
Key Products: The company has a patent for DM199, the first pharmaceutically active recombinant form of the KLK1 protein. This protein is an established therapeutic modality for acute ischemic stroke, preeclampsia, and other vascular diseases.
Recent Highlights: In July 2025, DiaMedica Therapeutics reported positive interim Phase 2 preeclampsia results for DM199, showing statistically significant reductions in blood pressure and no placental transfer.
