Cleveland Clinic Innovations Launches Spin-Off Company to Produce Advanced Cancer Screening Tests
Cleveland Diagnostics Developing Tests for Prostate, Breast and Ovarian Cancers
November 6, 2013
Cleveland Clinic Innovations has formed a spin-off company, Cleveland Diagnostics Inc., to develop and commercialize cancer diagnostics and screening tests.
Cleveland Diagnostics is developing technology that focuses on protein biomarker structural changes that correlate with the presence of a disease. The company’s pipeline of actionable non-invasive cancer diagnostic assays includes blood-based tests, initially concentrating on prostate, breast and ovarian cancer.
“Cleveland Clinic has a 90-year history of encouraging discovery and enabling physicians and researchers to create technologies that benefit patients,” said Thomas J. Graham, MD, Cleveland Clinic’s Chief Innovation Officer. “When fully developed, Cleveland Diagnostics’ unique screenings will provide physicians and patients with the information they need to make decisions on treatments.”
Cleveland Clinic Innovations formed the new company with AnalizaDx LLC, which has been working to develop the technology platform through early clinical development and validation.
“Early and effective diagnosis is critical in cancer. The rapidly changing healthcare system is placing a premium on cost-effective, clinically useful tools, and we intend to deliver clinically actionable and affordable cancer tests to patients and their healthcare providers, and make an important and lasting impact in the field,” said Arnon Chait, Ph D, who led AnalizaDx and will serve as CEO of Cleveland Diagnostics.
About Cleveland Clinic Innovations
Cleveland Clinic Innovations is responsible for company creation, business development and commercialization of all medical technology throughout Cleveland Clinic and its Innovation Alliance partners. Since it was founded in 2000, Cleveland Clinic Innovations has filed for over 2,200 patents, has more than 500 active licenses and has 66 spin-off companies that have received $750 million in equity investment. Nearly 1,100 jobs have been generated as a result of Cleveland Clinic Innovations and its spin-offs, having a significant impact on economic growth in Northeast Ohio. Its Alliance partners include hospitals and universities throughout the United States. Visit us at http://www.clevelandclinic.org/innovations.
About Cleveland Clinic
Cleveland Clinic is a nonprofit multispecialty academic medical center that integrates clinical and hospital care with research and education. Located in Cleveland, Ohio, it was founded in 1921 by four renowned physicians with a vision of providing outstanding patient care based upon the principles of cooperation, compassion and innovation. Cleveland Clinic has pioneered many medical breakthroughs, including coronary artery bypass surgery and the first face transplant in the United States. U.S.News & World Report consistently names Cleveland Clinic as one of the nation’s best hospitals in its annual “America’s Best Hospitals” survey. More than 3,000 full-time salaried physicians and researchers and 11,000 nurses represent 120 medical specialties and subspecialties. The Cleveland Clinic health system includes a main campus near downtown Cleveland, more than 75 Northern Ohio outpatient locations, including 16 full-service Family Health Centers, Cleveland Clinic Florida, the Lou Ruvo Center for Brain Health in Las Vegas, Cleveland Clinic Canada, and, currently under construction, Cleveland Clinic Abu Dhabi. In 2012, there were 5.1 million outpatient visits throughout the Cleveland Clinic health system and 157,000 hospital admissions. Patients came for treatment from every state and from more than 130 countries. Visit us at http://my.clevelandclinic.org. Follow us at http://www.twitter.com/ClevelandClinic.
Joe Milicia, 216.636.5873, email@example.com