The Ohio Third Frontier Commission, a state economic development initiative, recently approvedmore than $12.8 million in funds to promote cutting-edge biotechnology, including a neurostimulation device to enhance breathing and a spine fusion medical device.
The money included Ohio Third Frontier Commercial Acceleration Loan Fund awards to help for-profit companies commercialize their technologies:
Synapse Biomedical, of Oberlin, OH, received a nearly $2.4 million loan to bring its NeuRx Diaphragm Pacing System platform to a new regulatory approval. The approval would allow the device, a pacing system that promotes more regular breathing patterns, to be used in intensive care and emergency room patients. The NeuRx DPS is already FDA approved to help spinal cord injury patients reduce their dependence on mechanical breathing systems.
Intellirod Spinewas awarded a $1.6 million to support development and commercialization of the Akron, OH–based company’s post lumbar spine fusion medical device.
Cleveland Medical Devices, of Cleveland, received a $1 million loan to expand commercialization of its SleepView monitor and SleepView SM Web Portal, used for home sleep apnea testing.
Nanofiber Solutions—which has patent-pending electrospun polymer nanofiber scaffolds for growing tissues—was awarded a $1.5 million loan to help the Columbus, OH-based company with development and commercialization of new products.
“We are helping make Ohio the destination for biomedical advances and continuing our commitment to foster new technology and entrepreneurs in Ohio,” says David Goodman, director of the Ohio Development Services Agency and chair of the Ohio Third Frontier Commission.
Ohio Third Frontier Incubation Program also provided millions for business incubators across the state.
In addition, the Cleveland Clinic was awarded a cost share commitment of $1.5 million from the Ohio Third Frontier’s Industrial Research and Development Center Program. The money will complement a grant from the National Institute of Health’s National Heart, Lung and Blood Institute to establish the National Center for Accelerated Innovations (NCAI).
The NCAI will promote accelerated product development for emerging healthcare technologies that address heart, lung, blood and sleep disorders for accelerated product development.
