Entrepreneurs and investors have salvaged parts of an Ann Arbor area contract research organization that was shuttered in November when its corporate parent, Massachusetts-based Charles River Laboratories, exited the region as part of a round of cuts to its corporate workforce.

Investors and scientists have collaborated to launch Molecular Imaging Research Inc. It's an outgrowth of a company called MIR Preclinical Services, which Charles River acquired for $12.5 million in 2008 and closed in November.

The new company — legally called MIR Acquisition Inc., but doing business as Molecular Imaging Research — announced this morning that it had acquired imaging equipment from Charles River and attracted $7 million in venture capital to rebuild the company. Charles River did not retain an equity stake in the new company.

Molecular Imaging has also assumed the lease on the 22,000-square-foot Avis Farms facility in Pittsfield Township that Charles River left behind.

Tom Ludlam Jr., a veteran executive of the contract research industry who is new to the Ann Arbor area, was recruited to lead the new company.

Chicago-based Baird Venture Partners and New York-based Arcus Ventures provided the $7 million in VC for the company's first round of investment. Ludlam said the company is still seeking further venture capital before closing its Series A round of financing.

Ludlam, who served as an adviser to the venture capitalists for the last nine to 10 months, said the investors had been seeking an opportunity to fund molecular imaging technology — and this fit the bill.

"As a result of some of Charles River's decisions and some restructuring and consolidation, it became apparent that there was an opportunity to launch a new imaging business," Ludlam said in an interview. "It was a marriage of timing and opportunity. The investors recognizing that MIR had a great brand name and experienced people. The timing was right to to make an investment, the market looked right and we were able to capitalize on it."

Molecular Imaging starts with 13 employees, reportedly down from 30 when Charles River left.

But 13 is better than an empty building — and Ludham said the company would add workers as it continues to develop its preclinical imaging technology, which helps researchers make decisions about how to design and execute clinical trials using animals.

He said the firm would be hiring researchers with experience in imaging technology and pharmacology and, eventually, sales and marketing employees.

“A key advantage of preclinical imaging is that it facilitates a more timely and cost-effective drug discovery process,” Baird Venture Partners partner Pete Shagory said in a statement. “Biotech and pharmaceutical companies are looking for tools that can accelerate and improve their drug discovery decision making process and MIR’s imaging services have a strong reputation within this market. We are excited to partner with the company and its leadership in building another successful Michigan-based company.”

The deal marks Baird Venture Partners' reentry into the Ann Arbor tech community just a few months after it reaped a big profit on the $205 million sale of Scio Township-based Accuri Cytometers to New Jersey-based Becton, Dickinson and Co.

It's not the first time a local tech company has restarted after a major outside corporation shut it down and closed its local operations. In 2004, Pfizer paid $1.3 billion to acquire Esperion Therapeutics only to close its Esperion division in 2007.

Then, in 2008, Esperion co-founder Roger Newton restarted the company after acquiring intellectual property from Pfizer and securing venture capital.

Contact AnnArbor.com's Nathan Bomey at (734) 623-2587 or nathanbomey@annarbor.com. You can also follow him on Twitter or subscribe to AnnArbor.com's newsletters.