October 30, 200717 yr As we become a leader in the Midwest, I'd like to see them begin to track us against national leaders like Boston, SF, and Seattle. That's the next level of competition, and I think we should try use our success as a Midwest leader to compete at that level. We'll see... pretty soon I'd hope. within the last six years, NEO has had $600 million+ in venture capital in biotech firms. I'm hoping to see $300 million invested in the region (at least) next year, when we see the medical mart and convention center plans unfold.
January 4, 200817 yr Cleveland on the cover of a renowned science magazine. If anyone has time to search for the actual magazine article, it would be greatly appreciated. EDIT: nevermind, found it pretty quick. The article is...........a "little" dry and sciencey for anyone not an expert in nanotechnology. But if you're curious, here's the link to the cover story: http://www.nature.com/nnano/journal/v2/n12/full/nnano.2007.379.html ---------------------------------------------------------------------------------------- http://www.nanowerk.com/news/newsid=3905.php Research by Case Western Reserve University earns cover of prestigious science publication (Nanowerk News) An interdisciplinary team from the department of macromolecular science and engineering at Case Western Reserve University, the Louis Stokes Cleveland VA Medical Center and the NASA Glenn Research Center earned the December 2007 cover of Nature Nanotechnology, one of the world’s most prestigious scholarly journals covering research in nanoscience and nanotechnology. Jeffrey R. Capadona, associate investigator at the VA’s Advanced Platform Technology (APT) Center and Christoph Weder and Stuart Rowan, professors of macromolecular science and engineering at the Case School of Engineering and their colleagues have unveiled a method for developing mechanically-reinforced polymer nanocomposites. The incorporation of nanoparticles into polymers is a design approach that is used in all areas of materials science, says Weder, who is the senior author of the paper, adding that in the past, the broad technological utilization of polymer nanocomposites has been stifled by a lack of effective methods to control nanoparticle dispersion in materials.
January 6, 200817 yr Reposting after it was lost last week... Three early-stage funds get $24 million commitment Posted by Zachary Lewis December 21, 2007 12:16PM Categories: Breaking News The Ohio Capital Fund LLC has made commitments totaling $24 million to three investment funds with Northeast Ohio operations that help develop early-stage companies. The investment funds receiving the money are Early Stage Partners II, a Cleveland-based fund investing in life sciences, technology and materials companies; RiverVest Venture Fund II, a St. Louis-based health science fund with an office in Cleveland investing in medical devices, biopharmaceuticals and other health care opportunities; and Primus VI, a Cleveland-based investment fund with emphases on business services, health care, education and communications. More at: http://blog.cleveland.com/business/2007/12/three_earlystage_funds_get_24.html
January 8, 200817 yr Keep the good news coming.... Survey: Investment opportunities ripe here By CHUCK SODER 2:23 pm, January 8, 2008 An increasing number of national venture capital firms see Cleveland as a place where they can find good bioscience companies in which to invest, according to the results of an unscientific e-mail survey released by BioEnterprise Corp., a Cleveland nonprofit that assists health care companies. More at: http://www.crainscleveland.com/article/20080108/FREE/492098791/1099/newsletter01
January 15, 200817 yr BioEnterprise to house drug developer By Chuck Soder 10:25 am, January 14, 2008 Drug development company Aeromics LLC is scheduled to move to Cleveland from Yale University during the next six to eight weeks, said company vice president Marc Pelletier. More at: http://www.crainscleveland.com/article/20080114/FREE/766714150/1088/newsletter01
January 15, 200817 yr nice news in the peedee today, fulfills my criteria of grabbing business from out of state :wink: : Treatment Online to open downtown Cleveland office Tuesday, January 15, 2008 Mary VanacPlain Dealer Reporter A company that provides online information and consultation to people who have behavioral disorders plans to open an office in downtown Cleveland in the first half of the year, employing up to 20 people by year's end. Treatment Online, launched in late 2006 in New York by psychiatrist Dr. William Hapworth, provides self-help information and consultations from professional therapists at its Web site, www.treatmentonline.com. Typical site users are people who suffer from depression, stress, anxiety and other disorders. Treatment Online plans to hire between 12 and 17 provider relations, client services and marketing sales people in Cleveland, said Jim Piper, the Hudson resident and health-care insurance veteran who signed on as the company's chief operating officer in May. Its clinical staff of 17 would remain in New York. ...... To reach this Plain Dealer reporter: [email protected], 216-999-5302 http://www.cleveland.com/
January 16, 200817 yr Arteriocyte wins $509,000 grant 9:21 am, January 15, 2008 Cleveland biotech company Arteriocyte has received a $509,000 grant from the Cleveland Clinic’s Global Cardiovascular Innovation Center to further the development of its stem cell technology for use in chronic coronary ischemia. The money will allow Arteriocyte to initiate Phase II clinical evaluation of its lead stem cell product. Arteriocyte is one of 12 Ohio companies participating as research partners under subcontract to the Cleveland Clinic in the innovation center project. more at: http://www.crainscleveland.com/article/20080115/FREE/729830833/1007/newsletter01
February 13, 200817 yr Calif. company to do R&D here By SHANNON MORTLAND 8:45 am, February 13, 2008 A San Diego medical device company is setting up a research-and-development operation in Cleveland. Freedom Meditech Inc., which develops noninvasive ocular glucose measurement technology for diabetics, already has a product development services agreement with Magnet Inc., a local group that provides education, training and resources to technology-driven manufacturers that want to become or remain globally competitive. Under the deal, Magnet will provide Freedom Meditech with access to high-end optical engineering equipment as well as business growth and product engineering services. Terms of the arrangement were not disclosed. http://www.crainscleveland.com/article/20080213/FREE/627989402
February 13, 200817 yr Keep ' em coming! "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
February 25, 200817 yr Keep ' em coming! sure, here's another one: Florida medical firm ViewRay picks Cleveland, pledges jobs Posted by Mary Vanac February 25, 2008 14:44PM Categories: Breaking News, Medical Read more A Florida company developing an imaging system to guide cancer radiation therapy is moving its headquarters to Cleveland, thanks to collaboration by government and economic development organizations throughout Ohio. ViewRay Inc. in Gainesville is commercializing a patent-pending technology that uses magnetic resonance images (MRI) to guide gamma rays to precisely target cancerous tumors. The company, which employs 10 people, has committed to hiring 25 people in Northeast Ohio in its first year of operation, and 65 more within three years. The Ohio Tax Credit Authority today approved ViewRay for job creation tax credits estimated at $537,431 over 10 years to help the company relocate to Northeast Ohio and equip a facility here, said Lt. Gov. Lee Fisher in a written statement. The Ohio Department of Development, Cuyahoga County, TeamNEO, BioOhio in Columbus and BioEnterprise in Cleveland worked together to pitch ViewRay on Northeast Ohio. "They as a team were comprehensively better than anyone that we talked to in the other states," said William Wells, ViewRay's chief executive. http://blog.cleveland.com/business/2008/02/northeast_ohio_lands_florida_m.html
February 25, 200817 yr Could we change the title of this thread to something like "Cleveland Biotech Business News"?
February 25, 200817 yr You people are SO demanding! ;-) clevelandskyscrapers.com Cleveland Skyscrapers on Instagram
February 29, 200817 yr More investment $$$..... Israeli transplant MDG Medical raises $14 million Posted by Mary Vanac February 28, 2008 18:44PM Categories: Business, Business Impact, Impact One of the first Israeli medical companies to relocate to Northeast Ohio this decade has raised $14 million in equity and debt to pay for its marketing and sales growth. MDG Medical Inc. was started in Tel Aviv in 2000 and moved its headquarters to Beachwood a year later, keeping its research and development staff in Israel. Since 2000, economic development groups including BioEnterprise and the Beachwood Chamber of Commerce have wooed several Israeli technology companies here. More at: http://blog.cleveland.com/medical/2008/02/israelicleveland_transplant_md.html
February 29, 200817 yr I found this Crain's article interesting and reassuring: Cleveland law firm big winner in Medtronic trial I won't copy and paste the article text since it's more about the Cleveland-based lawyers who successfully defended a German biotech company against a frivolous patent claim by Medtronic (who got the smack down from a judge). I thought it was relevant to the thread since, with the growth of biotech in Cleveland, legal expertise in this area will be absolutely vital given today's litigious climate. It would be nice if the legal sector could grow locally right along side with the technical expertise.
March 4, 200817 yr Didn't see that anyone posted this yet. Good news. First three tenants in line for Clinic’s cardio center By SHANNON MORTLAND Crain's Cleveland 4:30 am, March 3, 2008 The Global Cardiovascular Innovation Center that will inhabit the Cleveland Clinic campus has landed its first two tenants and is on the verge of signing a third. When the $60 million center that breaks ground this spring opens in late 2009, the 65,000-square-foot structure will house Interventional Imaging Inc., a medical device company that focuses on vascular imaging and interventions. The company, founded by two doctors with ties to Case Western Reserve University, is in the product development stage, said Vince Kazmer, president and CEO of Interventional Imaging. The second company, a medical device business that focuses on catheters, will move to the center from Bend, Ore., said Thomas Sudow, director of company attraction at the Global Cardiovascular Innovation Center and vice president of attraction for Team NEO, an organization that aims to drive economic development in the region. The name of that company is expected to be released this week. http://www.crainscleveland.com/article/20080303/FREE/641376542
March 4, 200817 yr ^Great news! The Center's schematic design will be reviewed at this week's City Planning Commission.
March 4, 200817 yr This sounds like a great project! [though in tiny letters: I wish it were being built in a more prominent location...and closer to Euclid.]
March 12, 200817 yr It's good to hear that some of our "old economy" businesses are adapting to higher-growth market segments. Ohio second in Midwest among states with FDA medical-device manufacturers Posted by Mary Vanac March 10, 2008 19:24PM Many small Ohio companies that have made industrial products for generations are quietly moving into the burgeoning market for medical devices. One maker of valves and fittings for industrial compressed gas systems now makes products for medical oxygen systems. A precious metals company makes platinum electrodes for implantable medical devices. So many manufacturers are getting into the medical business that Ohio now has the second-largest number of Food and Drug Administration-registered companies among Midwestern states, according to a recent survey by BioEnterprise, the bioscience development organization in Cleveland. More at: http://blog.cleveland.com/medical/2008/03/fda_device_makersthe_top_five.html
April 7, 200817 yr Yeah another... m2m Imaging joins region's imaging technology cluster Posted by Mary Vanac April 07, 2008 14:47PM Categories: Business, Business Impact, Impact Another medical imaging technology startup has chosen Northeast Ohio as its home. m2m Imaging Corp. has moved its headquarters and seven research, development, sales and marketing professionals from Newark, N.J. to quarters at Alpha Park in Highland Heights. m2m Imaging, which makes high-end components to enhance the research capabilities of magnetic resonance imaging (MRI) and other imaging technologies, expects to hire 30 employees and consultants for its headquarters in the next year-and-a-half, according a company statement. m2m is a combination of businesses that were spun-out from Columbia University and the University of Queensland in Brisbane, Australia. http://blog.cleveland.com/medical/2008/04/m2m_imaging_joins_regions_imag.html
April 9, 200817 yr Potentially good news! from cleveland.com: Medically-inclined venture capital fund plans Ohio office Posted by cseper April 09, 2008 16:12PM An Illinois-based venture capital fund with a focus on life sciences and technology hopes to open an office in Ohio by year's end.
April 17, 200817 yr http://online.wsj.com/home-page Look out for downsides of a medical economy by Chris Seper Wednesday April 16, 2008, 4:34 AM Wall Street Journal interactive graphic 2007 was the year Cleveland officially switched from a manufacturing economy to a medical one. That's the year we employed more people in the health-care sector than manufacturing, according to an interactive graphic that's part of a report in The Wall Street Journal (registration required). Manufacturing's decline isn't news around here. Nor is the rise of our health-care sector. But the Journal's article -- discussed on the Wall Street Journal Health blog -- points out some precarious differences in a health-care economy versus one relying on manufacturing. Cleveland-area employment changes (by percentage) 1972 1977 1982 1987 1992 1997 2002 2007 Health care 5.86 7.22 9.18 10.14 11.03 11.02 12.75 13.55 Manufacturing 30.67 28.64 25.32 20.83 19.55 18.2 14.92 13.44 *Covers Cleveland-Elyria-Mentor area | Source: The Wall Street Journal • It can be harder to climb the pay ladder in health care. • The highly trained make a good living, but those without technical skills may find it harder to make a living in health care than they did in manufacturing. • A community that becomes dependent on health jobs can end up with a weaker economy, beholden to government programs such as Medicare and Medicaid. • While good manufacturing jobs are spread across a state, higher-paying health-care jobs tend to cluster in urban areas, around large medical centers. We've already seen some of these results, like specialists abandoning rural areas. The Journal uses Bangor, Maine, as its example to drive home the story. Back in February, The Economist came to Cleveland to write a piece that aptly asks: What happens when a clinic takes over a metropolis?
April 22, 200817 yr Ohio tops Midwest in investment dollars for health care Posted by cseper April 21, 2008 19:34PM Midwest venture capital Health-care startups in 11 Midwestern states and one region attracted $136.5 million in the first quarter, down nearly 60 percent from a year ago. Top 5 regions 1. Cleveland: $34.8 million 2. Minneapolis: $22.7 million 3. Wisconsin: $18.7 million 4. Cincinnati: $17.1 million 5. Detroit-Ann Arbor: $15 million More at: http://blog.cleveland.com/medical/2008/04/ohio_tops_midwest_in_investmen.html
April 23, 200817 yr Drilling down into Ohio's venture-capital gains in health care Posted by cseper April 22, 2008 12:40PM It's hard to make grand declarations out of one quarter's worth of venture capital numbers -- particularly in the Midwest, where one or two moderate investments can change things dramatically. But here's something that may be worth tracking: Ohio is grabbing more and more of the Midwest's health-care venture money. This quarter, Ohio garnered 38 percent of the total. In last year's first quarter, it got 29 percent. And in the first quarter of 2006, Ohio health-care investments made up 17 percent of the total pool. More at: http://blog.cleveland.com/medical/2008/04/drilling_down_into_ohios_ventu.html
May 1, 200817 yr Brazilian medical firm Scitech plans Cleveland research office Posted by Chris Seper May 01, 2008 13:33PM Categories: Breaking News, Business, Business Impact, Impact The Brazilian medical device firm Scitech Produtos Medicos will open a Cleveland research-and-development office in June, the company announced today at the Global Healthcare Investing Conference. The office is in partnership with Case Western Reserve University. It will initially include a staff of six and expand to 18 by 2010, company founder Melchiades da Cunha Neto said. More at: http://blog.cleveland.com/medical/2008/05/brazilian_medical_firm_scitech.html
May 1, 200817 yr Da Cunha Neto said Cleveland beat out Miami and Minneapolis for the research facility due in part to the strength of the region's polymer research and medical resources. ["And is the current home of Anderson Varejao"]
May 1, 200817 yr Da Cunha Neto said Cleveland beat out Miami and Minneapolis for the research facility due in part to the strength of the region's polymer research and medical resources. ["And is the current home of Anderson Varejao"] Brazil is home? You're streeeeeeeeeeeeetching. However, I wonder what the city does when a foreign company moves here are we working toward: building economic bridges - working toward leisure travel between the two cities - working toward finding others from the same states/territory so that they feel welcomed in Cleveland and organically build a neighborhoods here
May 1, 200817 yr Brazil is home? You're streeeeeeeeeeeeetching. ^^well, I meant CLEVELAND as his current home. Just my own humor as the reason why Cleveland came up on the company's radar....besides the obvious healthcare powerhouse aspect.
May 12, 200817 yr Cha-ching! Investors give orthopedic device maker OrthoHelix Surgical Designs $7.3 million Posted by Mary Vanac May 12, 2008 10:10AM Categories: Business, Business Impact, Impact An orthopedic medical device developer in the Akron area has received $7.3 million from investors during its third round of fund raising. OrthoHelix Surgical Designs Inc. raised its latest investment from Mutual Capital Partners in Cleveland and River Cities Capital Funds in Cincinnati, according to Financial Deals Tracker, a financial data service of DataMonitor. more at: http://blog.cleveland.com/medical/2008/05/akron_medical_device_firm_rais.html
May 14, 200817 yr From Crain's - more positive news: Ohio a magnet for health care venture capital firms By KATHERINE FAY 2:56 pm, May 14, 2008 Ohio has become one of the top five states in the nation for health care venture capital firms, according to an analysis by BioEnterprise. The Cleveland-based nonprofit, which assists bioscience companies, found that 27 venture capital firms with health care as a focus have Ohio offices. More at: http://www.crainscleveland.com/article/20080514/FREE/983064208/1007/newsletter01
May 30, 200817 yr More good news. $42million to be used on continued product development should equal more jobs and hopefully increased stability and growth prospects for this company. NDI Medical sells product, patents to Medtronic for $42 million by Brie Zeltner Friday May 30, 2008, 12:30 AM A small Cleveland company developing neurostimulation technologies has sold one of its devices to medical technology giant Medtronic, Inc. for $42 million. Highland Heights based NDI Medical plans to reinvest the money into product development, said CEO Geoff Thrope. The company and its 25 employees will remain in Cleveland. More at: http://www.cleveland.com/medical/index.ssf/2008/05/_by_brie_zeltner_plain.html
June 21, 200816 yr Cleveland biotech gets $1.35M By CHUCK SODER 9:49 am, June 20, 2008 A Cleveland company that is developing a new coil for magnetic resonance imaging scanners has received a $1.35 million investment led by RMS Management Inc. of Cleveland. Tursiop Technologies LLC will receive $1 million from RMS Management, which provides financial services to the families who founded Cleveland real estate firm Forest City Enterprises Inc. (NYSE: FCEA and FCEB), as well as another $350,000 from Cleveland venture development organization JumpStart Inc. More at: PRINTED FROM: http://www.crainscleveland.com/apps/pbcs.dll/article?AID=/20080620/FREE/607417119/1088&Profile=1088&template=printart
June 30, 200816 yr An update from an earlier bit about a Chinese medical device company very close to establishing its US HQ in the Cleveland area is at http://blog.cleveland.com/business/2008/06/state_board_oks_tax_break_for.html Keep'm coming!
June 30, 200816 yr ^Sounds like Beachwood will just be their initial landing site, so there's still hope they could end up in Tyler Village or in University Circle.
June 30, 200816 yr It would be cooler if they moved to Tyler Village, not Beachwood. :| GammaStar Medical Group hopes to put its North American headquarters in Beachwood, at least initially, with a permanent site in the area to be found later. It appears to be temporary.
June 30, 200816 yr It would be cooler if they moved to Tyler Village, not Beachwood. :| GammaStar Medical Group hopes to put its North American headquarters in Beachwood, at least initially, with a permanent site in the area to be found later. It appears to be temporary. Yeah, I know, I'm just in a super bad mood today, so I felt like whining. It happens.
June 30, 200816 yr It would be great if Euclid could become a booming biotech corridor someday... There are certainly some little seeds being planted (like the old Baker Electric showroom), but who knows if they'll take root locally.
July 1, 200816 yr I read the article to mean that they were looking for a permanent home in Beachwood, but starting out in a tech incubator.
July 1, 200816 yr ^They updated and expanded the article after my initial post and made the location info much clearer- I agree with you: "GammaStar Medical Group, founded by Chinese inventor Song Shipeng, hopes to put its North American headquarters in Beachwood. It initially would be located in the Beachwood Development Center business incubator near Chagrin Boulevard and Green Road, with a permament site to be determined later."
July 1, 200816 yr Euclid certainly does have potential for becoming a biotech corridor. I work for a company that makes medical devices located on Euclid in Midtown and the location makes a lot of sense for us, especially with the upcoming opening of the HealthLine. Easy access to the resources (and customer base) of University Circle and the Clinic while still remaining within easy reach of downtown. It is unfortunate that GammaStar only seems to be looking at Beachwood
July 15, 200816 yr Cleveland Alternative Fuel Technology Company Completes Series A Financing Biofuels Equipment Company Establishes Independent Operations, Seeks New Office Space CLEVELAND, Jul 14, 2008 (BUSINESS WIRE) -- Arisdyne Systems, an alternative fuel, cavitation technology and equipment company headquartered in Cleveland, recently raised $5.3 million in new equity financing to facilitate research on biofuel production methods. The completed financing confirms Arisdyne's initial success, and augments previous funding from the core group of investors. Capital was raised as part of the restructuring that established Arisdyne as an entity independent from parent company Five Star Technologies. "This equity financing transaction represents a strong endorsement from the board and investors and will permit the management team to focus more aggressively on clean energy resources and biofuel technology," said Fred Clarke, President of Arisdyne Systems. "We are honored to receive such a vote of confidence and look forward to establishing Arisdyne as a leading alternative fuel technology equipment company." The Five Star board of directors decided to establish Arisdyne Systems as an independent entity after seeing the results of cavitation research in a wide range of biofuels applications and concluding the technology was a viable and underfunded investment. Arisdyne Systems will now report to its own, newly formed board of directors, and will license cavitation technology from the recently formed Cavitech Holding Company (CHC), which will own the Intellectual Property. http://www.marketwatch.com/news/story/cleveland-alternative-fuel-technology-company/story.aspx?guid=%7B1C1ED7EF-02B8-45C1-ADD6-5E791FEE0F4C%7D&dist=hppr
July 21, 200816 yr http://blog.cleveland.com/medical/2008/07/case_western_reserves_new_medi.html Case Western Reserve's new medical researchers pump millions into Northeast Ohio economy Posted by JKroll July 20, 2008 04:44AM Fab five These researchers whom Case Western Reserve University recruited have brought more than $60 million to the local economy in research grants the last three years. Walter Boron Hired: 2007 as chairman and professor of the school's physiology and biophysics department. Area of research: Understanding how ions and gases cross cell membranes. Company: Aeromics LLC, developing drugs to stop brain swelling after stroke. Employees: 1 Mark Chance Hired: 2005 as professor and director of the Case Center for Proteomics. Area of research: Uncovering the structure and function of proteins so scientists can better understand the underlying characteristics of disease, wellness and the variation in individual responses to diet, environmental stresses or therapeutic drugs. Company: NEO Proteomics, finding biological indicators in urine, blood and other body fluid that can be used to guide treatment of patients who have chronic diseases. Employees: 1 Krzysztof Palczewski Hired: 2005 as John H. Hord Professor and chair of the medical school's pharmacology department. Area of research: Membrane proteins that trigger the human eye to "see" light. Companies: Retinagenix, commercializing a "miracle drug" that can slow retinal degeneration in adults; Polgenix, developing an instrument that can take an image of the back of the eye, and designing drugs for membrane proteins. Employees: 4 Retinagenix; 7 Polgenix Alvin Schmaier Hired: 2005, division chief of hematology and oncology for the medical school and for Case Medical Center; Robert Kellermeyer Professor of Hematology and Oncology for the medical school. Area of research: Understanding how blood clots occur; developing treatments that prevent blood clots, heart attacks and strokes. Company: Thromgen, developing drugs that inhibit blood clots. Employees: None. Dan Simon Hired: 2006 as director of University Hospitals Heart & Vascular Institute; division chief of cardiovascular medicine at the medical school and at Case Medical Center; and Herman K. Hellerstein Professor of Cardiovascular Research at the medical school. Area of research: Role of inflammation in hardening of the arteries, and scar tissue formation after balloon angioplasty and stenting. Most prominent recent discovery is a new gene (MRP-8/14) that predicts heart attack and stroke. Company (past): Co-inventor and co-founder of biotechnology start-up NitroMed, the developer of a heart failure drug. Sources: Case Western Reserve School of Medicine; the researchersWhen the medical school at Case Western Reserve University wanted a leader for the physiology and biophysics department, it wooed a researcher at the top of his field from an ivy-league competitor. The school did the same thing when it needed heads for its cardiovascular medicine, and hematology and oncology departments, as well as its proteomics center. "What we go out looking for is excellence," said Pamela Davis, the researcher, professor and administrator at the medical school who became its dean late last year. What Northeast Ohio got was an economic boost. Five researchers won by the medical school in the last three years are pumping more than $60 million into the region's economy -- and they promise to add more in the future. The group, just one example of the medical research, innovation and development going on in Northeast Ohio, illustrate how federal research dollars can start a region's economic ball rolling. The researchers -- Walter Boron, Dan Simon, Krzysztof Palczewski, Alvin Schmaier and Mark Chance -- brought dozens of scientists and millions of dollars in federal grants with them, spending the dollars to equip and staff their laboratories here.
July 24, 200816 yr Another start-up pledges to move its ops to Cleveland --> Cool. Cleveland Clinic spinoff gets $600,000 from investors Posted by Mary Vanac July 24, 2008 00:01AM Categories: Business Impact, Impact, Mary Vanac A biomedical startup company that developed a mechanical system to clear drainage catheters has been promised $600,000, mostly from Northeast Ohio investors. Clear Catheter Systems will use the money to move to Cleveland and hire its first employees here, said Dr. Edward Boyle, a heart, blood vessel and chest surgeon in Bend, Ore., who is the company's chief executive. More at: http://blog.cleveland.com/medical/2008/07/cleveland_clinic_spinoff_gets.html
July 28, 200816 yr http://blog.cleveland.com/business/2008/07/cleveland_grows_into_investmen.html Cleveland grows into investment research hub Posted by Steven Overly July 27, 2008 04:30AM Categories: Economic development, Impact, Small business Chagrin Boulevard is Ivy Zelman's Wall Street. The top-ranked analyst established her firm Zelman & Associates in Beachwood last year when she left financial giant Credit Suisse, opting to stay in the area where she and her husband are raising three children. "I've got a pretty good gig here relative to what I'd have in New York," she said. "You can have a great office here and an easy commute. The quality of life is just ten times better than I could ever have in New York.
July 28, 200816 yr Not to flood this thread with articles, but here are two nice ones from Crains: Making the grade Northeast Ohio's bioscience industry, marked by an increasing presence, could become national stronghold with proper leadership, investment By CHUCK SODER 4:30 am, July 28, 2008 We've got doctors, ideas, some cash and the will to use those resources. Now, we just need more people who know what to do with them. Parts of Northeast Ohio's bioscience industry are where they need to be to turn the sector into a national power, but a lack of entrepreneurs and executives with experience in the industry is holding back progress, according to several local experts. PRINTED FROM: http://www.crainscleveland.com/apps/pbcs.dll/article?AID=/20080728/SUB1/658901242/1076&Profile=1076&template=printart © 2008 Crain Communications Inc.
July 28, 200816 yr And the second: Industry report By CHUCK SODER 4:30 am, July 28, 2008 RD/Innovation: GOOD Northeast Ohio long has considered bioscience research and development a strength, given the presence of institutions like the Cleveland Clinic, University Hospitals, Case Western Reserve University and other area universities. NIH funds have risen locally while decreasing elsewhere and are expected to grow. Probably the closest category to reaching excellent. Could rise to the next level with more private sector PRINTED FROM: http://www.crainscleveland.com/apps/pbcs.dll/article?AID=/20080728/SUB1/429405233/1076/TOC&Profile=1076&template=printart © 2008 Crain Communications Inc.
August 5, 200816 yr CleveX secures $1.4 million in financing By JEFF STACKLIN 10:50 am, August 5, 2008 CleveX Inc., a Cleveland Clinic spinoff, has secured $1.4 million in equity financing the company says will help it commercialize a device to assist in the removal of cancerous and noncancerous skin lesions. More at: http://www.crainscleveland.com/article/20080805/FREE/810808763
August 6, 200816 yr Probably the same reason the Lakewood elks lodge is located 5 miles away in Westlake.
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