2021 Venture Recognition

Congratulations

In 2020, three new companies were formed in collaboration with Cleveland Clinic’s Lerner Research Institute with founding research and innovation from Cleveland Clinic:

  • AxoNeural Therapeutics – Developing nanoparticle-delivered drugs for the treatment of traumatic spinal cord injury.
  • Shennong Biotech – Developing treatments for T-cell mediated autoimmune diseases.
  • TETonic Biotech – Developing therapeutics for myelodysplastic syndrome and acute myeloid leukemia.
Several CCV companies received new funding:
  • Cardionomic (Series A)
  • CCAW JV (Joint Venture)
  • Enhale Medical (Series Seed)
  • Mitria Medical (Series Seed)
  • NeuroTherapia (Series A)
  • Perfusion Solutions (Series Seed)
  • Zehna Therapeutics (Series Seed)
Portfolio Milestones:

Centerline Biomedical: Founded in 2014, 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 receiving 510(k) clearance from the FDA for their flagship IOPS product for endovascular interventions in the descending aorta in 2019, the company completed the first in a series of clinical cases in the United States in May 2020. In December 2020, Centerline Biomedical completed the first surgical case in its MOTION multicenter prospective clinical study, which will be used to support the company’s submission for market clearance in Europe and other international markets. Read more about Centerline Biomedical and its newly launched trial.

Cleveland Diagnostics: Cleveland Diagnostics is a biotechnology company with proprietary first-in-class technology and reagents, which enable the development of highly efficacious and affordable tests, initially focused on the early detection of cancer. In 2019, Cleveland Diagnostics received FDA Breakthrough Device Designation for its 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. In July 2020, Cleveland Diagnostics initiated commercial and clinical operations, offering IsoPSA® on a limited basis through physicians in Cleveland Clinic’s Glickman Urological & Kidney Institute. A health economic analysis published by the company in late 2020 found the IsoPSA® technology significantly reduces unnecessary prostate cancer biopsies and costs. Learn more about Cleveland Diagnostics and their recent publication.

NeuroTherapia: NeuroTherapia 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 2020, NeuroTherapia announced the completion of a Phase 1a first-in-human clinical trial of its lead compound, NTRX-07. The study was a single ascending dose clinical trial carried out in healthy volunteers, in which NeuroTherapia observed a lack of dose-limiting toxicity and side effects, giving confidence that the product will be safe for use in patients following longer-term administration. Read more about NeuroTherapia and its Phase 1a study results. Read about NeuroTherapia co-founder and this year’s Lifetime Achievement Award winner, Mohamed Naguib, MD, here.

VisionAir Solutions: VisionAir Solutions is a Cleveland Clinic spin-off company that designs and commercializes 3D patient-specific silicone airway stents. Eliminating the need for onsite modification, the production of prescribed stents for patients by interventional pulmonologists is redefining airway care. After receiving 510(k) clearance from the FDA of their patient-specific airway stents in October 2019, the company launched commercialization in 2020 and successfully placed stents in the United States and Europe. Learn more about VisionAir Solutions.
 

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