Cleveland, OH (PRWEB) June 14, 2013
Case Western Reserve University, in collaboration with NDI Medical LLC, SPR™ Therapeutics, and Valtronic, has been awarded a $3 million grant from the Ohio Third Frontier Commission to commercialize a neurostimulation technology platform designed to treat multiple clinical indications with significant unmet needs, including pain and muscle paralysis.
The Ohio Third Frontier Innovation Platform Program connects Ohio companies with the technology development and innovation capabilities of Ohio’s universities. As 2013 Ohio Third Frontier awardees, the collaborating partners will commercialize a revolutionary modular neurostimulation system in development at Case Western Reserve for the past decade. The Cleveland based collaborating partners include NDI Medical, a venture and commercialization firm that funds, develops, and manufactures innovative neurodevice technologies, SPR Therapeutics, a commercialization firm focused on the use of neurodevice technologies to treat joint and limb pain, and Valtronic, a niche “mechatronics” manufacturing solutions company.
“This is an important investment and collaboration for the neurodevice industry, as well as the State of Ohio,” said Geoff Thrope, CEO and co-founder of NDI. “This platform technology will enable us to develop advanced treatments for spinal cord injury, chronic pain and a host of other indications as well as create new neurostimulation companies and jobs in Ohio.”
“Cleveland has been an epicenter of neurostimulation commercialization, largely due to companies such as our partners, NDI Medical and Valtronic, championing this technology,” said Hunter Peckham, PhD, founder of the Cleveland Functional Electrical Stimulation (FES) Center and professor of biomedical engineering at Case Western Reserve.
Peckham founded the FES Center 22 years ago to develop neurodevice technology designed to treat impairments from neurological diseases and injuries and introduce the technology into clinical practice. The neurodevice technology platform, developed by Peckham and his team at the FES Center, uses neurostimulation implantable devices to stimulate muscles paralyzed by spinal damage, and will be applied to enable individuals to move their arms or legs, control their bowel and bladder and more.
“We are thrilled to receive this grant, as it will enable our neurodevice technology platform to reach and benefit those suffering from the loss of muscle function due to spinal cord injury, people with chronic pain and eventually many others who need solutions to neurological conditions,” Peckham said. “These neurostimulation implantable devices are designed to help patients regain a greater degree of independence and dramatically improve their quality of life.”
“SPR Therapeutics will be the first company to commercialize this technology for multiple areas of chronic pain,” stated Maria Bennett, the company’s president and CEO. “We anticipate more neurotech companies will be founded in Ohio to further commercialize Dr. Peckham’s platform technology for a broad range of indications.”
About Case Western Reserve University School of Medicine
Founded in 1843, Case Western Reserve University School of Medicine is the largest medical research institution in Ohio and is among the nation's top medical schools for research funding from the National Institutes of Health. The School of Medicine is recognized throughout the international medical community for outstanding achievements in teaching. The School's innovative and pioneering Western Reserve curriculum interweaves four themes--research and scholarship, clinical mastery, leadership, and civic professionalism--to prepare students for the practice of evidence-based medicine in the rapidly changing health care environment of the 21st century. Eleven Nobel Laureates have been affiliated with the school.
Annually, the School of Medicine trains more than 800 M.D. and M.D./Ph.D. students and ranks in the top 25 among U.S. research-oriented medical schools as designated by U.S. News & World Report's "Guide to Graduate Education."
The School of Medicine's primary affiliate is University Hospitals Case Medical Center and is additionally affiliated with MetroHealth Medical Center, the Louis Stokes Cleveland Department of Veterans Affairs Medical Center, and the Cleveland Clinic, with which it established the Cleveland Clinic Lerner College of Medicine of Case Western Reserve University in 2002.
About NDI Medical
Founded in 2002, NDI is a hybrid venture capital and commercialization firm, and the only one focusing exclusively on innovative neurodevice technologies that address unmet needs with potential to provide significant returns to its investors. NDI is headquartered in Cleveland, Ohio with locations in North Carolina’s Research Triangle and Minneapolis, Minnesota. For more information, visit http://www.ndimedical.com.
About SPR Therapeutics
SPR Therapeutics (Stimulation for Pain Relief) is a medical device company that has developed a revolutionary and proprietary peripheral nerve stimulation therapy platform to addresses critical unmet needs for less invasive, longer lasting, and cost effective treatments for acute and chronic pain in the joints and limbs. SPR Therapeutics was formed in January 2010 as a portfolio company of NDI Medical, LLC. For more information, visit http://www.sprtherapeutics.com.
About Valtronic Technologies
Valtronic is an advanced technology "Mechatronics" manufacturing solution company that develops and produces complete integrated electronic and mechanical products. Among Valtronic's customers are the leading global suppliers of medical devices and implants, diagnostic equipment and sensitive aerospace and industrial companies. For over 30 years, Valtronic has helped hundreds of companies to launch thousands of Class II & III medical devices and advanced miniaturized electronic assemblies from its worldwide facilities. For more information, visit http://www.valtronic.com.