Mayo Clinic and Boston Scientific have launched a new venture to accelerate the development of medical technology and new minimally invasive treatments for several health conditions.
The new venture named as Motion Medical is expected to set up its research facilities in One Discovery Square, the bioscience centre in the Discovery Square research district.
The newly launched Motion Medical is set to address the unmet medical needs
Both Mayo Clinic and Boston Scientific will invest millions of dollars for three years to develop and bring new solutions to the market.
Mayo Clinic president and CEO Gianrico Farrugia said: “Mayo Clinic is committed to accelerating the pace of discoveries to bring new technologies and treatments to patients faster.
“This collaboration and others like it will continue to strengthen Rochester and Minnesota as a biomedical innovation and economic powerhouse.”
The Motion Medical marks another step forward in the partnership between Mayo Clinic and Boston Scientific.
It combines Mayo Clinic’s international clinical experience and patient care with Boston Scientific’s engineering, innovation and business expertise.
The new facility spanning over 1,800ft2 in One Discovery Square, developed by Mortenson, is expected to open in the fall.
The building anchors the 16-block Discovery Square research district for the $5.6bn Destination Medical Centre economic development initiative in Rochester.
Boston Scientific chairman and CEO Mike Mahoney said: “This collaboration between Mayo Clinic and Boston Scientific builds on our experience working together to support the shared goal of advancing patient-centered innovation.
“This approach combines the unique strengths of our two organizations, and we look forward to working together to solve complex health care challenges.”
Mayo Clinic and Boston Scientific have been working under partnership since a decade to develop new devices and technologies in the areas of interventional cardiology, neuromodulation and urology.
In addition, the companies have filed eight patent applications and partnered on two first-in-human clinical trials. – NS Medical Devices