Ohio Leading in Neurotechnology and Pharmaceutical Advances
6/12/2014, 5:03 p.m.
Today the Ohio Third Frontier Commission made the first awards from the new Technology Commercialization Center Program. The two projects that received funding will take breakthrough technologies and turn them into treatments and medicines that will change lives.
The Commission approved $21 million to establish the Neurotechnology Innovations Translator led by The Ohio State University in Columbus. The Commission also approved $25 million to support the Harrington Discovery Institute – Innovation Support Center led by University Hospitals in Cleveland. These organizations were chosen for their unique approaches and strong commitment to accelerating product development and forming new companies in Ohio.
“Bringing together the right mix of technology, capital and talent, the world-class centers will continue positioning Ohio as a leader in medical innovation,” said David Goodman, director of the Ohio Development Services Agency and chair of the Ohio Third Frontier Commission. “These partnerships will turn new technology into companies and bring quality jobs to the state.”
The Neurotechnology Innovations Translator will take breakthrough research developed at The Ohio State University and expand solutions that could improve the quality of life for people affected by some of the most prevalent neurological disorders, including Parkinson’s disease, epilepsy, Alzheimer’s disease, autism and chronic pain. The Harrington Discovery Institute – Innovation Support Center will build on pharmaceutical innovations from University Hospitals, by supporting physician-scientists in accelerating drug development. Both projects will make contributions to the quality of clinical care globally, build strategic partnerships with major players in the healthcare industry, create high growth medical technology start-ups, and attract venture capital to Ohio.
The Technology Commercialization Center Program was established by the Ohio Third Frontier to support accelerated commercialization of research and technologies from Ohio universities, medical centers or nonprofit institutions.