Ohio Pours Millions Into Breathing Pacing, Other Promising Biotech

The Ohio Third Frontier Commission, a state economic development initiative, recently approved more than $12.8 million in funds to promote cutting-edge biotechnology, including a neurostimulation device to enhance breathing and a spine fusion medical device.

The money included Ohio Third Frontier Commercial Acceleration Loan Fund awards to help for-profit companies commercialize their technologies:

"We are helping make Ohio the destination for biomedical advances and continuing our commitment to foster new technology and entrepreneurs in Ohio," says David Goodman, director of the Ohio Development Services Agency and chair of the Ohio Third Frontier Commission.

Ohio Third Frontier Incubation Program also provided millions for business incubators across the state.

In addition, the Cleveland Clinic was awarded a cost share commitment of $1.5 million from the Ohio Third Frontier's Industrial Research and Development Center Program. The money will complement a grant from the National Institute of Health's National Heart, Lung and Blood Institute to establish the National Center for Accelerated Innovations (NCAI).

The NCAI will promote accelerated product development for emerging healthcare technologies that address heart, lung, blood and sleep disorders for accelerated product development.