Northeast Ohio Medical University (NEOMED) and Bounce Innovation Hub, an Akron-based nonprofit that helps start-ups and small businesses, are launching a joint venture to develop and commercialize new medical technologies.
The joint venture will be called Kinetic and will provide guidance and support in the various stages of the commercialization process, including ideation, development, intellectual property protection, prototyping, regulatory compliance, market strategy and fundraising.
The new company will focus on medical technologies and therapeutics aimed at improving patient outcomes and advancing the field of practice.
“With our collaborations among nationally ranked health systems, NEOMED has been able to accelerate positive change across medical education, practice and discovery,” says John Langell, president of NEOMED. “Yet many areas of the medical industry, like innovation and commercialization, are largely untapped.”
Jessica Sublett, president and CEO of Bounce Innovation Hub, adds, “Northeast Ohio needed a comprehensive support infrastructure that aligns services, facilities and networks for healthcare start-ups. In NEOMED, we found a willing partner that also wanted to fuel the commercialization of new innovations to solve real world problems. Kinetic fills this current void, ensuring that innovators and their new technologies have the resources and expertise they need to not only survive, but thrive.”
Sources: The Pulse and Tribune Chronicle
