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Northeast Ohio Medical University in Rootstown and Akron-based Bounce Innovation Hub, a nonprofit that helps startups and small businesses, have formed a joint venture to develop and commercialize new medical technologies.
The company, Kinetic, Health Care Innovation in Motion, will support ideation, research and concept generation; product and intellectual property development and protection; prototyping, testing and regulatory compliance; market analysis; go-to-market strategy; and securing venture capital to bring the products to market.
Kinetic also will help identify unmet medical needs and develop solutions.
"With our collaborations among nationally ranked health systems, NEOMED has been able to accelerate positive change across medical education, practice and discovery. Yet many areas of the medical industry, like innovation and commercialization, are largely untapped," John Langell, NEOMED president, said.
Kinetic will focus on supporting the development of new medical technologies and therapies focused on improving patient outcomes and advancing the field of practice. The primary goal is to accelerate the translation of research to clinical application.
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