Dr. Brian Duncan caught the business bug as the only clinician on a team of Cleveland Clinic researchers who set out in 2004 to develop a heart-assist pump for infants with heart failure. The Clinic wooed Duncan, a pediatric heart surgeon, and his cardiac anesthesiologist wife to Cleveland in 2001. A few years later, the […]
Laboratory and office space for up-and-coming biomedical companies has been tight in the University Circle area of Cleveland for several years. Not a bad problem to have, until you start turning away promising young tenants for lack of space. And consider this: Northeast Ohio, which had about 250 biomedical companies in 2003, now has more […]
Gabby Everett, the site director for BioLabs Pegasus Park, offered a tour of the space and shared some examples of why early-stage life science companies should choose North Texas.
BioEnterprise Inc., the bioscience venture developer in Northeast Ohio, has formalized a partnership with Team NEO to woo new medical imaging, neurostimulation, cardiovascular device and orthopedic companies to the region. Both nonprofits work in Northeast Ohio and sometimes they bump against each other or duplicate efforts, said Annette Ballou, director of strategic marketing and communications for BioEnterprise. So the two organizations developed a […]
Tim Moran still remembers hearing his prematurely born daughter scream when an adult-sized cannula was inserted in her mouth and taped to her face to deliver oxygen. Several years later, Moran has started PediaWorks, a not-for-profit organization that will work with medical professionals to develop pediatric medical devices, spinning off for-profit companies to commercialize those devices.
Midwest health care start-ups attracted $780 million in investments in 2009, according to the BioEnterprise Midwest Health Care Venture Investment Report. While the number of companies winning investments last year -- 156 -- was about the same as in 2008, the dollar volume of the investments dropped 26 percent.
The number of Midwest health care startups receiving investments could set a record this year. However, the startups reported winning far fewer dollars in the first nine months of the year than in either 2008 or 2007.
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.
Ohio kept its No. 4 ranking for the strength of its biotechnology industry in Business Facilities magazine's annual list, partly because of continued investments by Ohio Third Frontier, according to BioOhio, the state's bioscience development organization.
The $5 million Medical Growth Fund gathers some of the region's well-known health-care entreprenuers who want to make seed-level investments in startup companies that are close to profitability. It will focus on medical device, health IT, and health-care services businesses and provide an initial investment of up to $500,000.
Investments in Midwest health care start-ups fell 9 percent to $402 million in the first half of the year from a year ago, according to the latest BioEnterprise Midwest Health Care Venture Investment Report. Meanwhile, life sciences investments nationwide represented the largest percentage of total venture capital invested since the MoneyTree Report started.
You'd think a worldwide economic crisis would cause companies to shut their doors to new licensing deals aimed at taking technologies market. Not at the technology transfer office at Case Western Reserve University. That office set a record for new licensing revenues during the fiscal year ended June 30 -- $16.3 million.
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Altogether, there are easily $50 million in health-related federal earmarks from Ohio legislators that could fund projects from the James Cancer Hospital at Ohio State University to a Youngstown company whose device is ideal for victims of battlefield trauma. Votes in Senate and House committees are expected this month to determine whether the institutions would get some, all or any of their requests.
Manufacturers looking to branch out into the biomedical industry will be able to get some tips from people whose businesses already participate in that market. Ohio is second in the Midwest for companies registered with the Food and Drug Administration for medical manufacturing.
Growth of biomedical business, research and development in Northeast Ohio grew faster than the national average in each of the last five years, according to the latest Cleveland Plus Economic Review. Though venture capital investments in health care companies slowed significantly in Northeast Ohio and the state during the first quarter from a year ago, health care investing was up in the Midwest.
Two trends helped give Ohio a seat at the bioscience leaders table last year: Big drug companies farmed out more of their research and manufacturing work -- to contract research and manufacturing organizations in the state. And a record number of biomedical companies started up or moved to the state, primarily in Northeast Ohio.
Biomedical companies with compelling technologies could win millions of dollars in investments this year despite the worst gloom in financial markets since the Great Depression.