Some of the top stories at MedCity News this week:
? Supporters of the Ohio Third Frontier kicked off their campaign in Independence, Ohio, this week to woo voters to renew the $1.35 billion, 10-year project for another four years by voting “Yes” on Issue 1 during the May primary election. The campaign to renew the program to rekindle Ohio’s economy by investing in technology research, development, commercialization and entrepreneurship in five industry clusters, including biomedical, promises to be short and intensely grassroots.
? Medical device companies, including Boston Scientific Corp. and ev3 Inc., may benefit from a major government-funded study that concludes carotid stents are equally safe and effective as surgery to unblock clogged neck arteries. The long-awaited results from the Carotid Revascularization EndarterectomyVersus Stenting Trial (CREST), led by a Mayo Clinic researcher, could persuade federal officials to expand reimbursement of the stent, enabling device makers in Minnesota to grab a bigger piece of the $65 million carotid stent market in the United States.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
? NovoLogix Inc. in Eden Prairie, Minn., is not the easiest company to understand. But it does have a colorful past and an intriguing future. Once a $400 million force in the home-health care market, the former Ancillary Care Management has remade itself into a software-as-a-service company that focuses on helping payers manage claims relating to fast growing demand for expensive medical pharmacy drugs.
? University Hospitals Case Medical Center in Cleveland spun off its first company this week: Fluence Therapeutics Inc., licensing to the company photodynamic therapy technology for the treatment of psoriasis and other skin diseases. Fluence Therapeutics is housed at the Akron Global Business Accelerator, which is part of the city’s Biomedical Corridor District.
? In financial news: The Cleveland Clinic plans to spend a whopping $848 million on renovations and construction at its health system this year… NYC’s OrbiMed Advisors has raised $550 million for its latest health venture capital fund… Wright State University in Dayton, Ohio, plans to build a $22 million neuroscience research center, and Premier Health Partners plans to provide $4.3 million over five years to create a department of neurology at Wright State’s Boonshoft School of Medicine… The Joan C. Edwards Charitable Foundation will invest an initial $10 million to $12 million over a decade to create a medical education pipeline in Cleveland…Milwaukee, Wis., early stage drug developer Promentis Pharmaceuticals has raised $1.94 million in equity to continue development of its schizophrenia therapeutics… And Novia CareClinics LLC in Indianapolis has raised $1 million in debt for its on-site, employer-affiliated health clinics.
