Global Cardiovascular Innovation Center Incubator Program

Thermalin Diabetes gets $4.5M NIH grant for next-generation insulin

GCIC — Mon, 30 Apr 2012 18:34:53 +0000

Next-generation insulin developer Thermalin Diabetes has received a $4.5 million grant from the National Institutes of Health to continue development of its insulin analogs. The grant is expected to fund Cleveland-based Thermalin through the filing of an investigational new drug (IND) application for a rapid-acting insulin analog drug candidate, CEO Rick Berenson said.

PNC Bank building resource center in Cleveland’s Fairfax neighborhood

GCIC — Fri, 23 Mar 2012 13:26:58 +0000

CLEVELAND, Ohio — PNC Bank is building a $5 million resource center in Cleveland’s Fairfax neighborhood to provide educational programs and to cultivate the area’s rich heritage. “We’re very proud of this unique collaboration,” said regional PNC manager Paul Clark, who on Wednesday announced creation of the PNC Fairfax Connection during a gathering at the Fairfax Renaissance Development Corp. on Quincy Avenue.

Venture groups: Sustained investment needed in Knowledge District

GCIC — Fri, 23 Mar 2012 11:57:21 +0000

PROVIDENCE – Leaders from three prominent nonprofit technology venture groups said Tuesday that Rhode Island is well-positioned to expand its creative economy with sustained investments from the government, research institutions and businesses. The three organizations – Cleveland Clinic Innovation in Ohio, Innovation Works in Pittsburgh and University City Science Center in Philadelphia – have all leveraged public money to become major investors and business incubators in their regions.

Cleveland Clinic extends innovation collaboration

GCIC — Wed, 22 Feb 2012 20:56:49 +0000

CLEVELAND, Ohio — The Cleveland Clinic is pairing with New York’s North Shore-Long Island Jewish Health System to share its expertise in developing and marketing medical innovations.The deal, the value of which is not being disclosed, is the second such collaboration the Clinic has formed and possibly the beginning of a “national innovation alliance,” said Chris Coburn, executive director of Cleveland Clinic Innovations.

Juventas Therapeutics attracts $12 million in equity financing

GCIC — Tue, 14 Feb 2012 18:01:18 +0000

Juventas Therapeutics Inc. of Cleveland has raised $12 million in equity financing that it will use to finance Phase II clinical trials of a drug designed to recruit the body’s stem cells to repair damaged tissue.

IschemiaCare Receives State Loan for Stroke Test

GCIC — Fri, 20 Jan 2012 14:37:21 +0000

The $943,000 in financing for Cincinnati-area IschemiaCare comes through the Innovation Ohio Loan Fund program, which is aimed at helping companies in the state develop next-generation products.IschemiaCare‘s project funded through the loan is expected to create 22 jobs, according to the Ohio Department of Development. The state recently has stopped providing anything beyond the most of basic of details about the projects it finances

Securus Medical Group

GCIC — Thu, 22 Sep 2011 14:41:38 +0000

Securus Medical Group is developing clinical tools to monitor core body temperature within body cavities. Thermal injury to the tissue due to energy from various sources can create damage to surrounding tissue. Securus will provide clinicians a simple to use, real-time, noncontact, thermal map of body cavity tissue temperature. This information will guide the physician to achieve the desired clinical outcome without risk of injury to surrounding tissue. For more information, please contact Donna Richardson at drichardson@securusmg.com.

IceCure Medical

GCIC — Tue, 06 Sep 2011 13:48:15 +0000

IceCure Medical, Inc. develops and commercializes cryoablative treatments for applications in women’s health. Our first technology, IceSense3, offers a minimally invasive, in-office procedure for the treatment of symptomatic breast fibroadenoma. IceSense3 is an attractive alternative to the current standard treatment of open surgical excision. The IceSense3 probe is inserted under ultrasound guidance while the system uses liquid nitrogen for rapid freezing. Our advanced cryoablation probe design provides a treatment zone that is easily customized to match the size and shape of the targeted fibroadenoma. The IceSense3 cryoablation is a viable treatment option because it is safe and effective and can be performed in as little as 5 minutes. Physicians are pleased with the system because the learning curve is short and patient satisfaction is high. Patients are pleased with the cosmetically superior results that can be achieved with minimal discomfort in an office setting. For more information, please contact us at (888)516-7389 or visit our website at www.icecure-medical.com.

Biomarker test firm Cleveland HeartLab closes $18.4M investment

GCIC — Mon, 22 Aug 2011 21:56:14 +0000

Biomarker test-maker Cleveland HeartLab has closed an $18.4 million series B round of funding, which was led by two Boston-area investors. The size of the round is a testament to the explosive growth that the young company has achieved in less than two years of existence after being spun out from Cleveland Clinic — and the new infusion of cash represents a bid by HeartLab’s investors to keep that momentum going.

Wound therapy company SironRX closes $3.4M series A investment

GCIC — Mon, 15 Aug 2011 18:54:23 +0000

A regenerative medicine spinoff from the Cleveland Clinic and Juventas Therapeutics that’s developing a wound healing treatment has closed a $3.4 million series A round of investment. SironRX Therapeutics will use the funding to begin clinical trials of its wound therapy technology and hire senior management and clinical staff, CEO Rahul Aras said.