Northeast Ohio Medical University
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Location |
Rootstown, Ohio |
|---|---|
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Project Name |
Accelerating Pharmaceutical Commercialization_A Rural Proof of Concept Center for Economic Development |
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Program |
i6 |
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Award Amount |
$498,282 for Accelerating Pharmaceutical Commercialization: A Rural Proof of Concept Center for Economic Development |
Northeast Ohio is a national leader for medical research and innovation and has a regional biomedical/biotechnology cluster to support medical technology commercialization. Northeast Ohio Medical University is located in Rootstown, OH with a population of 7,212 and with a total surrounding population of approximated 42,000 people.
Northeast Ohio Medical University will establish a pharmaceutical proof of concept center to stimulate research and development interactions between NEOMED research faculty and life science companies in Northeast Ohio. This program will accelerate the time to time to market for new drug therapies by reducing the time required from drug discovery to first-in-human clinical trials.
The pharmaceutical proof of concept center will have following anticipated project impacts 5 years after this award:
- 100 jobs created
- $20M in investment capital
- 150 companies supported
- 25 new patent filings