August 20, 200816 yr Biosciences Tech Belt Makes Steady Progress During First Year Pittsburgh -Cleveland BioSciences Draws Funding and Talent to Both Regions CLEVELAND & PITTSBURGH, Aug 19, 2008 (BUSINESS WIRE) -- In 2007, the Pittsburgh Life Sciences Greenhouse (PLSG) and BioEnterprise of Cleveland announced a strategic collaboration to work together in creating a "Biosciences Tech Belt" linking the biosciences assets of the adjacent metro areas. The objective of the collaboration is to leverage the existing resources of both regions to draw greater levels of funding and talent into the areas. In 2007, the area had significant success in bioscience venture activity: http://www.marketwatch.com/news/story/biosciences-tech-belt-makes-steady/story.aspx?guid=%7B8D3E3AE3-7BFA-4850-8446-4B857E82A4D6%7D&dist=hppr
September 9, 200816 yr Cleveland Clinic's Global Cardiovascular Innovation Center gives $2.9 million in grants to heart-related companies Tuesday, September 09, 2008 Mary VanacPlain Dealer Reporter The Global Cardiovascular Innovation Center at the Cleveland Clinic has committed $2.9 million in grants to help heart-related companies develop their products and services. Led by the Clinic, the center is a consortium of nearly 20 medical, academic, economic development and industry partners from around Ohio. In December 2006, the Ohio Third Frontier Project gave the center a $60 million grant. That money now is being sub-granted to companies and projects - a majority of which are in Northeast Ohio - that are developing cardiovascular devices, drugs, therapies and products that eventually could add to the region's stature as a center for biomedical growth and development. Eight companies - five of them in Ohio - would receive grants averaging $367,000 from the center, said Brian Kolonick, a Clinic spokesman. http://www.cleveland.com/news/plaindealer/index.ssf?/base/news/1220949034108840.xml&coll=2
September 9, 200816 yr Wow that's a heck of a lot of good news in one article. Somebody at the pd must have let it slip through.
September 9, 200816 yr They forgot to mention "America's Poorest Big City" or how "the foreclosure epidemic has devestated it's neighborhoods". What kind of reporting is that. Anyway, good news, especially the part that we are starting to be enough of a locational draw to bring in more and more out of town companies.
September 10, 200816 yr You forgot that we are also one of the "fastest dying" cities. The PD is definitely slipping. :-D
September 12, 200816 yr A little more money to add to the lists: http://www.crainscleveland.com/article/20080912/FREE/809129969/1007/newsletter01 University Hospitals gains $1.5M in gifts By SHANNON MORTLAND 8:59 am, September 12, 2008 University Hospitals has received three gifts totaling $1.5 million to establish an endowed, chaired position in neurological outcomes research. The Brown family of Cleveland and the Louise H. and David S. Ingalls Foundation of Shaker Heights donated a total of $750,000, and Vermont resident Leigh Perkins, CEO of Orvis Co., contributed $250,000. The late Willard Brown was a former UH board member, and Louise Harkness Ingalls was an original UH trustee.
September 16, 200816 yr Cleveland BioLabs wins grant for research in mitigation of radiation damage 15th September 2008 By Staff Writer Cleveland BioLabs, a drug discovery and development company, has received a $774,183 grant from the National Institute of Allergy and Infectious Diseases of the National Institutes of Health to further study certain mitigating properties of Protectan CBLB502 in the context of hematopoietic damage from radiation exposure. The grant program, medical countermeasures to enhance platelet regeneration and increase survival following radiation exposure, is funded through the Project BioShield Act of 2004 and administered by the Department of Health and Human Services. The goal of this program is to accelerate the development of safe and effective medical products to mitigate and treat thrombocytopenia and to enhance platelet regeneration after radiation exposure from radiological and nuclear terrorist attacks. Specifically, this initiative supports R&D of promising new approaches and medical products to enhance platelet regeneration and yield improved survival. http://www.pharmaceutical-business-review.com/article_news.asp?guid=7AA5A50E-0312-48F6-B876-ADF2DFF9D2C5
October 13, 200816 yr It seems that the capital is still flowing for this biotech firm: Simbionix receives largest investment yet By CHUCK SODER 11:53 am, October 13, 2008 Simbionix USA Corp., a provider of surgery simulation equipment, has received what it described as its largest round of financing, led by Cincinnati venture capital firm River Cities Capital Funds. More at: http://www.crainscleveland.com/article/20081013/FREE/810139971/1022/breaking
October 13, 200816 yr And for this firm: AcelleRX receives $6.9 million investment By CHUCK SODER 2:24 pm, October 9, 2008 AcelleRX Therapeutics Inc., a Cleveland Clinic spinoff company, has received a $6.9 million investment that will finance the first clinical trial of its cardiovascular stem cell therapy. More at: http://www.crainscleveland.com/article/20081009/FREE/810099952/1022/breaking
October 17, 200816 yr Ohio and Jerusalem agree to share bioscience companies Posted by Mary Vanac October 16, 2008 16:38PM Government and economic development officials from Ohio and Israel gathered in Beachwood on Thursday to sign a partnership agreement that could pave the way for joint business development and investing in bioscience companies. BioOhio, the state's bioscience company developer, and BioJerusalem, a similar development organization in that city, agreed to... More at http://blog.cleveland.com/medical/2008/10/government_and_economic_develo.html
October 22, 200816 yr http://blog.cleveland.com/medical/2008/10/midwest_healthcare_investments.html Midwest health-care investments near record; officials hope it can withstand economic downturn Posted by Mary Vanac October 21, 2008 22:52PM Categories: Business, Business Impact, Impact, Real Time News As usual, Minneapolis and Cleveland have placed first and second in the Midwest race for health care venture capital so far this year, according to the latest BioEnterprise survey (pdf). As a region, 11 Midwestern states and one region won $455 million in the third quarter, a record for health care investments since Northeast Ohio's health care company developer started tracking them in 2005. For the first three quarters of the year, 113 health care startups in the Midwest had attracted nearly $900 million in venture investing, according to the BioEnterprise Midwest Health Care Venture Investment Report. Despite the nation's banking and stock market crises, BioEnterprise President Baiju Shah expects investors to continue to actively invest in Midwest health care startups for several reasons.
November 10, 200816 yr Arteriocyte receives defense agency dollars 4:30 am, November 10, 2008 Arteriocyte Inc. of Cleveland, a creator of medical products, has been awarded nearly $2 million from the Defense Advanced Research Projects Agency to develop further a system aimed at mass producing red blood cells that would be used for transfusions on the battlefield. More at: http://www.crainscleveland.com/article/20081110/FREE/811079957/1022
November 12, 200816 yr Hey, who says there is no capital to be had..........? Intelect Medical to receive more than $11 million in financing 11:28 am, November 12, 2008 Intelect Medical Inc. in Cleveland, an early-stage company developing an implantable neurostimlation system for stroke and brain injury victims, has secured a fresh pile of capital. More at: http://www.crainscleveland.com/article/20081112/FREE/811129969/1022
December 15, 200816 yr Irish biomed firm bound for Cleveland By JAY MILLER 4:30 am, December 15, 2008 A six-year tax credit awarded last Monday, Dec. 8, by the Ohio Tax Credit Authority is expected to bring Proxy Biomedical Ltd. to Cleveland. Proxy Biomedical is an Irish medical products firm that uses biomaterial to create medical products for surgery and tissue repair and regeneration. More at: http://www.crainscleveland.com/article/20081215/FREE/812129944/1022
April 27, 200916 yr Biomedical industry in Cleveland area growing, Team Northeast Ohio reports Manufacturing, medicine are key mix Monday, April 27, 2009 Sarah Jane Tribble, Plain Dealer Reporter Northeast Ohio's biomedical industry bucks the trend of bad economic news: It's growing. And it's growing faster here than elsewhere in the United States. Surprised? Don't be, says Team Northeast Ohio, a business recruiting firm that released an economic report this morning on the burgeoning industry. More at http://www.cleveland.com/news/plaindealer/index.ssf?/base/news/1240821063296700.xml&coll=2
April 28, 200916 yr wow, so they need a new building for more start-ups? now that is great news. let's hope architecturally the building is as cutting edge as the med start-ups inside!
April 28, 200916 yr ^this is the Global Cardiovascular center that we've know about for the past few years.
April 28, 200916 yr This is great news. It would be great to see the coming transformation of Midtown in regards to biomed companies lining Euclid. With high property values, I would expect to see some nice looking buildings lining the street.
April 29, 200916 yr From Crains: http://www.crainscleveland.com/article/20090429/FREE/904299947 Northeast Ohio dominates latest round of Third Frontier grants By CHUCK SODER 9:25 am, April 29, 2009 Nine Northeast Ohio companies and institutions have been awarded a total of more than $29 million in state grants aimed at helping them commercialize new technologies. The six companies and three institutions that won the grants received nearly 75% of the $40.1 million that the Ohio Third Frontier Commission awarded Tuesday afternoon. The awards are contingent upon State Controlling Board approval.
May 8, 200916 yr Cleveland Clinic, Ireland's Royal College of Surgeons team up on research, technology by Sarah Jane Tribble/Plain Dealer Reporter Thursday May 07, 2009, 8:45 PM Tracy Boulian/The Plain Dealer The Cleveland Clinic will team with the Royal College of Surgeons in Ireland on research, testing and development of medical devices. The Cleveland Clinic has signed a "memorandum of understanding" with the Royal College of Surgeons in Ireland Thursday to work together to research, develop, test and eventually sell medical devices throughout Europe. continued at>>>>>>> http://www.cleveland.com/medical/index.ssf/2009/05/cleveland_clinic_irelands_roya.html
May 13, 200916 yr CerviLenz Inc. raises $4 million in venture capital By CHUCK SODER 1:35 pm, May 12, 2009 Medical device firm CerviLenz Inc. in Bainbridge Township has raised $4 million from two out-of-state venture capital firms that have opened Cleveland offices over the past few years. CerviLenz will use the money, which comes from Chrysalis Ventures of Louisville, Ky., and Arboretum Ventures of Ann Arbor, Mich., to expand its staff, to finish clinical testing of its product and to redesign the device to make it less expensive to manufacture, said CerviLenz CEO Dean Koch. Read more at http://www.crainscleveland.com/article/20090512/FREE/905129959
May 26, 200916 yr Nice write-up in WSJ about how Cleveland is becoming a big-time player in the BioTech start-up world: High-Tech Start-Ups Put Down Roots in New Soil Cities Like Kalamazoo Dangle Incentives as Silicon Valley and Other Old Hot Spots See Pullback in Venture Loans By SIMONA COVEL High-tech start-ups are increasingly setting up shop in places previously not known for attracting high-tech firms. A number of cities, such as Kalamazoo, Mich., and Toledo, Ohio, are offering grant money and tax breaks to high-tech start-ups, just as the usual venture-capital hot spots, such as Silicon Valley and Boston, continue to see a pullback in venture lending. Many of the nontraditional cities require that start-ups receiving grants invest in their area, leaving companies little choice but to locate -- or relocate -- their businesses. Firms also are being lured by the lower cost of doing business in such cities. And, as the number of high-tech start-ups increases in these areas, existing companies find that as they grow, they no longer have to leave Ohio, Michigan and other states that traditionally have had less to offer in the way of high-tech communities and investors. http://online.wsj.com/article/SB124329530359452757.html
May 26, 200916 yr Cool! Thanks for posting. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 26, 200916 yr Great to see in the Wall Street Journal 8-) BioEnterprise really does an amazing job attracting business into the region too. I don't know where we would be without them.
June 25, 200915 yr http://www.medcitynews.com/index.php/2009/06/cleveland-stem-cell-projects-receive-10-million-commercialization-boost/ Cleveland stem cell projects receive $10 million commercialization boost June 25, 2009 by Chris Seper CLEVELAND, Ohio — Two grants worth $10 million will push two stem-cell technologies deeper into clinical trials, while advancing research on a series of other additional, nascent stem cell projects throughout Greater Cleveland. The initial grant is $5 million from Ohio’s Third Frontier Program to the Center for Stem Cell & Regenerative Medicine, and an additional $5 million will be matched through project participants. The center’s members include Case Western Reserve University, Cleveland Clinic, University Hospitals and the local biopharmaceutical company Athersys. Some of the grant money will go to Athersys to perform a Phase II clinical trial on MultiStem, an adult stem cell therapy to help victims of heart attacks, strokes and a complication of bone marrow transplants.
July 7, 200915 yr http://www.medcitynews.com/index.php/2009/07/coming-from-france-modern-day-medical-ties-to-cleveland/ Coming from France: Modern-day medical ties to Cleveland July 7, 2009 By Chris Seper CLEVELAND, Ohio — Cleveland’s relationship with Rouen, France, started during World War I because doctors here wanted to mimic innovations they observed at an army hospital there. Now Cleveland’s sister city wants to flip the script. French officials who were in town for the last week want over the next two years to lock down as many commercial ties as they can for a new Rouen University Innovation Health Care initiative. At the moment, that effort is a collaboration between the Rouen University Hospital – Charles Nicolle and the university to commercialize more of their research and includes some temporary buildings that house fewer than a half-dozen startups. But a permanent facility, which would include an office park to house businesses past the incubation phase, likely will be completed early next decade. There was a lot of talk and heavy hinting by the French delegation that ties with its health-care initiative would provide a better foothold for Cleveland’s health care community in Europe. Some Cleveland-Europe ties already exist. The Cleveland Clinic recently signed a memorandum of understanding with an Irish university and manages a heart center in Austria.
August 4, 200915 yr Its financial support in hand, BioEnterprise to emphasize broader efforts Partner organizations sign on through 2013; group envisions less need for singularly focused assistance By CHUCK SODER, Crain's Cleveland Business 4:30 am, August 3, 2009 BioEnterprise Corp. may change as much in the next four years as it has in the past four, but one thing is fairly certain: It'll be here. The group's partner organizations have committed to providing their portion of the Cleveland nonprofit's budget at least until 2013, according to BioEnterprise president Baiju Shah ... ... For more information, please visit http://www.crainscleveland.com/article/20090803/SUB1/308039985
December 9, 200915 yr AIM Pharmakon plans to open plant in University Circle By Tom Breckenridge, The Cleveland Plain Dealer December 07, 2009, 5:55PM CLEVELAND, Ohio -- A maker and marketer of drugs and dietary supplements plans to open a University Circle-area plant employing up to 40 people, officials say. AIM Pharmakon, based in Centereach, N.Y., announced Monday that it will invest $2 million in a manufacturing and research-and-development facility, thanks partly to state and city tax breaks. The company was drawn to the region's growing biomedical base and expertise in heart care, company president Vijay Puntambekar said in a news release. MORE AT http://www.cleveland.com/business/index.ssf/2009/12/a_new_york-based_marketer_of_p.html
December 9, 200915 yr This is actually great news. It really tells me that Cleveland is really getting a look from these Bio company's and that (hopefully) we are really on our way to much more. Clevelands reputation is just to good in this area to be ignored. Hoefully its just the beginning!
December 9, 200915 yr Great News!! And I agree with willyboy- I think we all hope and expect more businesses to invest in the city.
December 15, 200915 yr A lot of activity going on in that little University Circle area: Biotech firm Thermalin Diabetes nabs exclusive insulin therapy option from CWRU By SHANNON MORTLAND 3:06 pm, December 14, 2009 Thermalin already has raised more than $275,000 in seed financing from individual investors and has received a $254,000 grant from the National Institute of Diabetes and Digestive and Kidney Diseases to test in animals one of the company's insulin therapies. MORE AT http://www.crainscleveland.com/article/20091214/FREE/912149975
December 21, 200915 yr This news is hitting all the major papers: Cleveland-based Athersys inks deal with Pfizer on cell therapy treatment By Sarah Jane Tribble, The Plain Dealer December 21, 2009, 11:00AM Cleveland-based Athersys, which produces biopharmaceutical products, inked a deal with global giant Pfizer this morning, sending its stock soaring. Athersys sold the rights to its treatment for inflammatory bowel disease for an upfront cash payment of $6 million with additional payments of up to $105 million at certain milestones. MORE AT http://www.cleveland.com/healthfit/index.ssf/2009/12/athersys_inks_deal_with_pfizer.html
January 5, 201015 yr TheraVasc Inc. receives $500,000 in investment capital By CHUCK SODER 11:32 am, January 5, 2010 A Cleveland-based drug development company has received $250,000 investments from both business development organization JumpStart Inc. and life sciences investment firm Portal Capital LLC of Beachwood. More at: http://www.crainscleveland.com/article/20100105/FREE/100109958
February 19, 201015 yr Another start up -- Sounds like this guy has some good experience behind him. Pediatric medical device group launches in Cleveland to spur development of children’s products February 19, 2010 by Mary Vanac Moran already is talking with contract manufacturers who could make the devices. “My goal for the organization is not to do any direct manufacturing,” he said, but to build a large enough product design portfolio, and sales and marketing operation to make the organization and its spin-off companies sustainable. Moran picked up the pediatric medical device thread more than a year ago. Previously, he founded, managed and raised a round of venture financing for CSF Therapeutics, a developer of devices to treat neurodegenerative diseases and a spin-off company from the Cleveland Clinic. Girouard also said Cleveland is as likely a place as Minneapolis, a medical device powerhouse, to make devices for children or adults. “I think it may be a way that we can distinguish [Cleveland], grow a budding little device manufacturing core,” he said. MORE AT http://www.medcitynews.com/index.php/2010/02/pediatric-medical-device-group-launches-in-cleveland-to-spur-develop-of-childrens-products/
February 22, 201015 yr University Hospitals Case Medical Center spins off first startup company By SHANNON MORTLAND 11:59 am, February 22, 2010 University Hospitals Case Medical Center has spun off its first startup company to license a new treatment for psoriasis and other skin diseases. Fluence Therapeutics Inc. has licensed photodynamic therapy technology in which light-sensitive chemical compounds are infused into tissue. When these compounds are exposed to light, they change how the affected cells react. READ MORE AT: http://www.crainscleveland.com/article/20100222/FREE/100229979 "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
March 2, 201015 yr Cleveland HeartLab expands, plans 40-50 more employees by 2011 By Angela Townsend, The Plain Dealer March 02, 2010, 1:56PM A Cleveland Clinic spinoff company formed in late 2009 as the newest entry in the field of cardiovascular technology is now poised for additional growth. On Tuesday, Cleveland HeartLab president and chief executive Jake Orville announced the company has raised $3 million from local investors, which will allow the company to expand its lab and operations. Read more: http://www.cleveland.com/medical/index.ssf/2010/03/cleveland_heartlab_expands_pla.html
April 1, 201015 yr Job numbers jump for the life sciences sector Good in biology? Medical sciences intrigue you? Well, if you're out of work or tired of your old job, now might be the time to think about becoming a doctor, medical researcher or bioengineer. That's because an intense focus on building the economy around biotechnology and turning the northeast Ohio region into a life sciences hub during the past decade seems to be paying off on the jobs front. http://news.yahoo.com/s/y_clevelan/y_clevelan_ts1404
May 10, 201015 yr An interesting read from MedCity: Doctor-turned-venture capitalist excited about Midwest investing Q. What’s it like working with Bio Enterprise? A. Every day, I’m amazed at the level of involvement that ultimately translates into economic development for Northeast Ohio. It’s exciting stuff. It’s great for the entrepreneurs. http://www.medcitynews.com/2010/05/doctor-turned-venture-capitalist-excited-about-medwest-investing/
June 24, 201014 yr Ohio Third Frontier Commission awards money to NE Ohio biomed companies By CHUCK SODER 9:47 am, June 24, 2010 The big winners during the Ohio Third Frontier Commission's Wednesday meeting were biomedical companies, particularly those focused on imaging, as well as venture development group JumpStart Inc. and interns across the state. The commission awarded about $7 million to biomedical companies in Northeast Ohio and another $1.2 million to JumpStart. The group also voted to increase the size of its internship program to about $3 million for the fiscal year starting July 1, which is about double what the program received in past years, said Norm Chagnon, executive director of the Third Frontier Commission. CardioInsight Technologies Inc. of Cleveland was awarded $1 million to commercialize a technology for the imaging of electrical activity on the surface of the heart. Collaborators on the project include University Hospitals Case Medical Center, the Cleveland Clinic, Battelle Memorial Institute, Le Centre Hospitalier Universitaire de Bordeaux, Michel Haissaguerre, M.D., and Draper Triangle Ventures. http://www.crainscleveland.com/article/20100624/FREE/100629913
July 7, 201014 yr From Medcity: Cleveland Clinic Innovations starts 2nd decade with 26 companies Cleveland Clinic Innovations — the corporate venturing arm of the nation’s top heart hospital — is entering its second decade with a first-of-its-kind venture ranking, a brand-new incubator building and a growing portfolio of spin-out companies. Perhaps most impressive, those companies — 26 in all — have attracted $336 million in follow-on funding from other investors. “That’s a darn good number” for a 10-year-old innovations group whose average spin-off is about five years old, said Harry Rein, chairman of the group’s Industrial Advisory Board and a veteran venture capitalist. Cleveland Clinic Innovations (CCI) commercializes the inventions and discoveries of the Clinic’s doctors, researchers and professionals. The group’s activities include everything from investing a small amount of money to help an inventor validate a technology to prototyping a medical device to launching a company that makes a medical product to partnering with a health information technology firm to distribute its software. http://www.medcitynews.com/2010/07/cleveland-clinic-innovations-starts-2nd-decade-with-26-companies/
September 5, 201014 yr Cross-posted from the Obama Presidency thread. I thought it might have some relevance here given the location of the announcement. When making such an announcement, Presidents almost always tie in the local angles: Official: Obama backing research tax credits WASHINGTON Seeking ways to spur economic growth ahead of the November elections, President Barack Obama will ask Congress to increase and permanently extend research and development tax credits for businesses, a White House official said Sunday. Obama will outline the $100 billion proposal during a speech on the economy Wednesday in Cleveland, the official said. The announcement is expected to be the first in a series of new measures Obama will propose this fall as the administration looks to jump-start an economy that the president himself has said isn't growing fast enough. http://news.yahoo.com/s/ap/20100905/ap_on_bi_ge/us_obama_tax_credits
September 23, 201014 yr Cleveland Clinic spinoff raises $8.5M for biodegradable stents Arterial Remodeling Technologies, a French company whose technology was developed in part by the Cleveland Clinic, has raised $8.5 million in venture capital funding to further develop its biodegradable stents. Fred Cornhill, former chairman of the Clinic’s department of biomedical engineering, worked with researchers at two French institutions to develop the device. Cleveland Clinic maintains an equity stake in the company, according to Chris Coburn, executive director of Cleveland Clinic Innovations. The funding brings to $425 million the amount that Clinic spinoffs have raised over roughly the last seven years, Coburn said. On another positive note for the state’s biomedical industry, Arterial Remodeling Technologies (ART) could someday set up a U.S. base in Ohio. “We expect to have a serious discussion about their relationship with the Clinic and a possible presence in Ohio” when ART officials visit Cleveland next week, Coburn said. http://www.medcitynews.com/2010/09/cleveland-clinic-spinoff-raises-8-5m-for-biodegradable-stents/
September 24, 201014 yr Nestle Research Center Donates $500,000 To Cleveland Clinic's Lerner Research Institute To Study Impact Of Whole Grains 09/24/2010 Nestlé USA Chairman and CEO Brad Alford has announced that Nestle Research Center, based in Lausanne, Switzerland, has donated $500,000 to Cleveland Clinic's Lerner Research Institute in Cleveland, Ohio. The gift will fund a collaborative study focused on examining the effects of a diet rich in whole grains on body composition and energy metabolism. "We look forward to building our relationship with Lerner Research Institute. This collaboration combines Nestle's core expertise in nutrition with Lerner Research Institute's scientific vision, and will help us define the scientific basis for new product development. Our ultimate goal is to provide good tasting products with nutritional benefits to consumers," said Alford in a prepared statement. This study will build on previous Nestlé research that has suggested that a diet rich in whole grains has many potential nutritional benefits. "Our Nestlé colleagues in Europe have been impressed with the world class facilities and expertise found at the Cleveland Clinic's Lerner Research Institute," noted Alford. "We're excited to have the Cleveland Clinic Lerner Research Institute, Nestlé Prepared Foods Company and Nestlé Research Center working together on this study." http://www.vendingmarketwatch.com/web/online/VendingMarketWatch-News/Nestle-Research-Center-Donates-500-000-To-Cleveland-Clinics-Lerner-Research-Institute-To-Study-Impact-Of-Whole-Grains/1$28151
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