Cleveland Clinic gets $60M for cardiac center

Working with academic organizations and biomedical groups, the Cleveland Clinic has gotten a $60 million grant from the state of Ohio to develop a cardiovascular research center. The center will receive a designation allowing it to draw ongoing state financial support in addition to the initial $60 million. The Global Cardiovascular Innovation Center (GCIC) will follow a traditional academic technology transfer model, developing new cardiovascular treatment technologies and spinning off new companies using its CCF Innovations technology commercialization arm. However, it also plans to acquire new technologies of its own. The GCIC will also work with Ohio companies focused on cardiovascular treatment research, as well as medical device and drug development. Partners in the venture include the Fairfax Renaissance Development, a community development corporation, Case Medical Center, The Ohio State University, The University of Cincinnati, the University of Toledo, as well as corporate sponsors such as Medtronic, Pfizer, IBM and GE Healthcare.

Find out more about the deal:
- read this Cleveland Clinic release