Cleveland Clinic Ventures is the team responsible for taking the innovative ideas of our caregivers one step further, closer to the bedside of patients worldwide. Those ideas that have earned their place in the market as investible, standalone companies are added to the startup portfolio with pride, and together, alongside the inventor, management team, and fellow investors, CCV works to take these technologies further with speed and agility. Through strategic investment in these entities, Cleveland Clinic is able to address organizational priorities and healthcare whitespace opportunities – and does so every year.
In 2019, seven new companies were formed with founding research and innovation from Cleveland Clinic:
- Advanced NanoTherapies – Creating nanoparticle technologies that enable and improve drug uptake and retention into the cell for medical devices.
- Autism Eyes – Enabling physicians to accurately diagnose Autism and its severity through observation of a patient’s eye movements in response to specific audiovisual stimuli.
- CCAW JV – Distributing comprehensive health services through virtual visits as a Cleveland Clinic-American Well joint venture.
- Mitria Medical – Developing and commercializing a minimally invasive transcatheter mitral valve repair implant.
- PSMA – Utilizing the protein PSMA as a biomarker and nuclear radiotracer to better diagnose metastatic prostate cancer via PET scans.
- Qr8 Health – Incorporating standardized, validated digital tests for the measurement of neurological and motor function through a mobile-administered, easily integrated platform technology.
- Zehna Therapeutics – Developing small-molecule drugs and biologics that alter the microbiome and its interaction with host tissues.
Several CCV companies received new funding:
- Advanced NanoTherapies – Series Seed
- Autism Eyes – Series Pre-Seed
- Cleveland Diagnostics – Series C
- Enhale Medical – Series Seed
- Enspire DBS – Series A
- NeuroTherapia – Series A
- PSMA – Series Pre-Seed
- Xealth – Series A
But most notably, a select group of our portfolio companies achieved significant milestones in 2019, further advancing their technologies toward patient care – Centerline Biomedical, Cleveland Diagnostics, NeuroTherapia, and VisionAir Solutions.
Founded in 2014 out of a collaboration between science and medicine, Centerline Biomedical
pioneered an Intra-Operative Positioning System (IOPS) platform technology that enhances visualization and navigation across a range of endovascular procedures, while reducing exposure to harmful radiation for patients and physicians. After their first pre-clinical study in 2016 and award of two NIH Small Business Grants in 2018, the company received 510(k) Clearance from the FDA for their flagship IOPS product for endovascular interventions in the descending aorta in June of last year. In 2019, the company was also awarded an NIH grant and hired their now CEO, Phil Rackliffe. Learn more about Centerline Biomedical.
is a biotechnology company with proprietary first-in-class technology and reagents to enable development of high efficacy and affordable tests, focused on early detection and diagnostics of cancer. In 2019, Cleveland Diagnostics received FDA Breakthrough Device Designation for their Novel Prostate Cancer Diagnostic Test and published a multicenter IsoPSA Clinical Validation Study demonstrating improved accuracy over the gold standard Prostate-Specific Antigen, or PSA, test sending them well on their way toward widespread use. Learn more about Cleveland Diagnostics.
is a clinical stage biotechnology company founded from Cleveland Clinic technology in 2015. The company is developing novel therapies that decrease the neuroinflammation associated with diseases such as neuropathic pain and Alzheimer’s disease. In 2019, NeuroTherapia initiated its First-In-Human Clinical Trials of its lead compound, NTRX-07, to provide initial safety data and human pharmacokinetics in Alzheimer’s. Learn more about NeuroTherapia.
is a newer portfolio company working to tailor airway stenting to the needs of individual patients.
Eliminating the need for onsite modification, the production of prescribed stents for patients by interventional pulmonolgists is redefining airway care. VisionAir Solutions received 510(k) Clearance from the FDA of their patient-specific airway stents in October 2019. Learn more about VisionAir Solutions.
Once again, congratulations to all of our startups who made headway with their innovative solutions this year.