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		<title>MRIs (and Cleveland) win big in the latest round of Ohio Third Frontier funding</title>
		<link>http://www.medcitynews.com/2009/04/mris-and-cleveland-win-big-in-the-latest-round-of-ohio-third-frontier-funding/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=mris-and-cleveland-win-big-in-the-latest-round-of-ohio-third-frontier-funding</link>
		<comments>http://www.medcitynews.com/2009/04/mris-and-cleveland-win-big-in-the-latest-round-of-ohio-third-frontier-funding/#comments</comments>
		<pubDate>Wed, 29 Apr 2009 18:04:57 +0000</pubDate>
		<dc:creator>Chris Seper</dc:creator>
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		<description><![CDATA[A $10 million public-private deal with Cardinal Health and Ohio State was the largest of several Third Frontier grants for biomedical companies or organizations announced Wednesday. Altogether, imaging companies and organizations received $20 million in funding. Out of eight total grant announcement, Cleveland-area companies were involved in five.]]></description>
			<content:encoded><![CDATA[<p><a rel="attachment wp-att-4483" href="http://www.medcitynews.com/2009/04/mris-and-cleveland-win-big-in-the-latest-round-of-ohio-third-frontier-funding/ohio_flag/"><img class="alignright size-medium wp-image-4483" title="Ohio flag" src="http://www.medcitynews.com/wordpress/wp-content/uploads/ohio_flag-300x199.jpg" alt="Ohio flag" hspace="5" vspace="5" width="300" height="199" /></a>COLUMBUS, Ohio &#8212; Ohio&#8217;s technology development project,Â Third Frontier, has announced a $10 million public-private partnership between <a href="http://www.medcitynews.com/index.php?s=%22ohio+state+university%22" target="_blank">Ohio State University</a> and <a href="http://www.medcitynews.com/index.php?s=%22cardinal+health%22" target="_blank">Cardinal Health</a>.</p>
<p>It was one of a <a href="http://development.ohio.gov/newsroom/releases/press.htm?id=3442" target="_blank">series</a> of <a href="http://development.ohio.gov/newsroom/releases/press.htm?id=3443" target="_blank">awards</a> that also will provide grants worth another $23.4 million to about a dozen other Ohio health-care companies and organizations &#8211;Â with recipients coming largely from Greater Cleveland.</p>
<p>The <a href="http://www.cardinal.com/content/news/4292009_6520.asp?WT.rss=rss">$10 million announcement</a> links Cardinal and Ohio State&#8217;s Wright Center of Innovation in Biomedical Imaging. The two organizations will launch a Molecular Imaging Technology Center that will house OSU and Cardinal researchers, andÂ Cardinalâ€™s radiopharmaceutical manufacturing facility and its nuclear pharmacy operations.</p>
<p>TheÂ partnership also wouldÂ create a distinguished faculty position at OSU in radiopharmaceutical chemistry.</p>
<p>Much of the partnership&#8217;s research will focus on creating molecular imaging agents, which are injected into the body and are scanned toÂ detect the earliest stages of multiple sclerosis, strokes and cancer. <a href="http://www.bizjournals.com/columbus/stories/2009/04/27/daily20.html?ana=from_rss">Columbus Business First</a> noted that the Wright center&#8217;s imaging department uses a 7-Tesla magnet, which &#8220;allows for rapid, clear scans that show internal organs and reduce the need for exploratory surgery.&#8221;</p>
<p>Through the partnership, researchers want to develop the first-ever 8-Tesla magnetic resonance imaging (MRI) system, according to the Business First.</p>
<p>Medical imaging won a significant amount of money from Third Frontier in the recentÂ round. Aside from the Cardinal announcement, the state also awarded two $5 million grants to advance MRI technologies.</p>
<p>Most of the Third FrontierÂ grants went to Cleveland-area organizations, including the <a href="http://www.medcitynews.com/index.php/tag/cleveland-clinic/">Cleveland Clinic Foundation</a> and <a href="http://www.medcitynews.com/index.php/tag/case-western-reserve-university/">Case Western Reserve University</a>. The Clinic &#8212; along with Simbionix USA Corp. and Astro Medical Devices, two other Cleveland-area firms &#8212; will receive $3.4 million to developÂ products that help surgeons better implant shoulder, hip and knee joint replacements.<span id="more-4482"></span></p>
<p>CWRU, meanwhile, received $5 million for a project it&#8217;s working on with <a href="http://www.medcitynews.com/index.php?s=athersys" target="_blank">AthersysÂ Inc</a>., the Cleveland Clinic and <a href="http://www.medcitynews.com/index.php?s=acellerx" target="_blank">AcelleRx Therapeutics</a> to continue work at the Center for Stem Cell and Regenerative Medicine in Cleveland.</p>
<p>Altogether, the Cleveland Clinic was affiliated with $13.3Â  million in Third Frontier funding.</p>
<p>&#8220;Imaging is now emerging as an important sector for the state,&#8221; said Tony Dennis, president and chief executive of <a href="http://www.bioohio.com/" target="_blank">BioOhio</a>, the state&#8217;s bioscience company development organization.</p>
<p>Dennis, who sat in on part of the selection process, said Ohio is continuing to favor commercialization &#8212; taking research products and services to market &#8212; and to focus on the state&#8217;s medical strengths. Third Frontier also funded two stem-cell projects, Dennis said.</p>
<p class="MsoNormal">Other grants include:</p>
<ul>
<li>Cleveland&#8217;s <a href="http://www.medcitynews.com/index.php?s=arteriocyte" target="_blank">Arteriocyte</a> will receive $4.9 million to develop its stem-cell therapies. The funding will be used in collaboration with the Cleveland Clinic, Ohio State University and University of Toledo.</li>
<li><a href="http://www.medcitynews.com/index.php?s=viewray" target="_blank">ViewRay</a>, based in the Cleveland suburb of Oakwood Village, will receive $5 million to work with <a href="http://www.medcitynews.com/index.php?s=QED" target="_blank">Quality Electrodynamics</a>, Ohio State and CWRU to better target radiation to cancerous cells using MRI.</li>
<li><a href="http://www.medcitynews.com/index.php?s=chantest" target="_blank">ChanTest Corp</a>. in Garfield HeightsÂ andÂ Analiza Inc. in Cleveland will receive $4.8 million to expand their services to accelerate drug discovery. ChanTest is a contract research organization that works with both pharmaceutical and biotech companies.</li>
<li>Columbus-based Hyper Tech Research Inc. will receive $5 million to create a develop wire to be part of a new kind of full-body MRIÂ system. Hyper Tech will work with Ohio State, the Wright Center of Innovation in Biomedical Imaging, RevWires, and Siemens Magnet Technology Ltd. to develop its high-field and high-temperature superconductor wire technology. The new full-body MRI would operate at higher temperatures and will not require the use of liquid helium bath to cool it.</li>
<li>Cleveland-based ACME Express Inc. received $349,900 for a project that uses its software to reduce health-care costs in Ohio by $35 million per year. The software manages medical staff scheduling, mainly for anesthesia, radiology, cardiology and emergency departments. ACME Express will use the state funding to expand and upgrade the software.</li>
</ul>
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