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The Global Center for Medical Innovation “ Accelerating Medical Device Innovation in the Southeast ”. Southeast Region Technology Transfer Directors Meeting July 13, 2012. GCMI: Key Highlights. Non-Profit Founded Leading Academic & Healthcare Organizations: Georgia Tech
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The Global Center for Medical Innovation“Accelerating Medical Device Innovation in the Southeast” Southeast Region Technology Transfer Directors Meeting July 13, 2012
GCMI: Key Highlights • Non-Profit Founded Leading Academic & Healthcare Organizations: • Georgia Tech • Saint Joseph’s Translational Research Institute/Emory • Piedmont Healthcare • Georgia Research Alliance • Only Comprehensive Medical Innovation Center in the Southeast Region • Awarded i6 Challenge Grant by U.S. Dept. of Commerce • $1.0 MM grant to drive commercialization & entrepreneurship • Exclusive Southeast recipient • Awarded Facilities & Equipment Grants • $1.3 MM from US Department of Commerce (EDA) • $1.3 MM from Georgia Research Alliance • Officially opened April 18, 2012
GCMI: Our Mission The mission of GCMI is to accelerate the development and commercialization of next-generation medical devices and medical technology that can save lives and improve quality of life.
Critical Market Need for GCMI • Medical Device commercialization and job creation is lagging in the Southeast. • Medical Device ideas, talent, IP and high value employment either fail to take root or are lost to other regions. • Root Causes: • Major infrastructure gaps • Lack of investment capital • Limited commercialization expertise available to inventors, startups and small companies
GCMI: Our Approach • Focus on Region’s Core Strength – Medical Devices • Develop a Regional Network of Partnerships between Universities, Clinicians, Entrepreneurs, Investors and Industry • Facilitate Collaborative Projects, Grants, Resource and Expertise Sharing • Provide Independent Development Resource Capability • A Fully Equipped & Functional Prototyping Center • “One Stop Shop” for Commercialization • Enable STTR/SBIR Grants for Small Companies
GCMI is Providing the Infrastructure for Medical Device Commercialization DEVICE/DRUG COMPANIES INVESTORS • ADVANTAGES: • Access to Critical Resources • Provider of Key Services • Opportunities for Collaboration and Networking • Rapid Review and Funding of High-Potential IP • Cost & Time Savings in the Development Process • Access to Industry EARLY-STAGE COMPANIES UNIVERSITIES RESEARCH CENTERS CLINICIANS
GCMI Partner Network “Complimenting the Collective & Collaborative Expertise, Experience and Capabilities of GCMI’s Member Organizations” Program Development & Support Expert Reviews IP & Patent Support Development Plans Business Plan Consultant Network Project Management Industry Partners • Capital Investors • Strategic Partnering • License to Major Companies • Establish Independent Companies • Contract Management Design, Prototyping & Development Center IP Collaboration Opportunities Pre-Clinical/GLP Testing Promising IP Grant & Investor Network Advanced Imaging Clinical Assessment Quality Systems Support Regulatory Affairs Support IDE, 510k, PMA Application Support CRO Network
Medical Device Development is a Complex Process Concept Plan Design Evaluate Clinical & Regulatory Too Long Critical Need = Go Faster
Prototyping & Development Capabilities • Design Engineering • Material & Mechanical Engineering • Rapid & Functional Prototyping • Basic Functional Testing • Certified Clean Rooms (Class 10K & 100K) • cGMP Clinical Production & Packaging
Prototyping & Development Lab A sample of GCMI’s functional & rapid prototyping equipment available – capability to develop broad range of medical devices.
GCMI Member Benefits GCMI Members are positioned as leaders in supporting the latest medical technology innovations and have first-hand opportunities to identify specific areas of involvement. GCMI prominently promotes members and services to a global audience. Other benefits include preferred pricing and access to: • Prototyping, cGMP Manufacturing, GLP Preclinical Studies • Intellectual Property & Start-up Services • STTR/SBIR Grant Opportunities • Education Series • Marketplace for Intellectual Property • Industry Advisory Network • Corporate Partners Program
Prototyping & Development Resources • GCMI Members receive design & prototyping services at discounted rates. • Members are given scheduling priority on prototyping and cGMP manufacturing services. • Member organizations have access to the latest in prototyping technologies and access to validated cleanrooms without a major capital investment. • Leverage established network of prototyping & manufacturing resources that complement GCMIs services.
IP, Regulatory & Commercialization Guidance • GCMI facilitates intellectual property and start-up services to innovators and entrepreneurs. • GCMI supports and strengthens Member institution technology transfer resources around medical devices. • Partnership with e-Zassi provides access to InnoVision™ decision support tool, generating valuable regulatory, market and other product development insight. • Access to a network of industry collaborators and resources, connecting Member innovators to help their project move forward along the development path. • Attracts new technologies to the Center that potentially benefit Member organizations with individual projects.
STTR Grant Assistance • GCMI is classified as a “Non-Profit Research Institution,” which allows GCMI to collaborate with small businesses on STTR awards. • GCMI provides a unique service to fund up-front support to help select medtech companies secure STTR grants and provide ongoing project support. • STTR grant thresholds are $150K for Phase I and $1MM for Phase II – R&D dollars. • Focus on collaboration & commercialization supports proposal and may increase likelihood of success. • The GCMI grant program will provide high quality grant writing/submission expertise without the need to hire new employees or redirect valuable human capital.
GCMI Education Series • GCMI has created a quarterly Education Series to help Member organizations explore and understand medical innovation and entrepreneurship. • Members have priority registration. • GCMI will coordinate personalized education sessions for Members on a case-by-case basis: • Include regional experts • Broaden network across Southeast • Expand partnerships between academic and healthcare institutions
Industry Advisors • GCMI is building a network of experiences life sciences and device executives with specific areas of expertise who will be able to assist with specific commercialization initiatives. • Through GCMI’s Partner & Advisory Network, Member organizations will have access to: • Product development expertise • Specialized engineering expertise • Market analysis • Preclinical facilities • Seed funding • Clinical trials • Venture capital advisors
Building A Regional Network • Communication • Establish formal communication, site visits and regularly scheduled working sessions – identification of project managers. • Commercialization Grants • Identify and pursue innovation & commercialization grants through highlighting regional strengths. • Resource Sharing • Build complementary resources across Membership. • Attract industry, investment, talent. • Expansion of Regional Network • Bring together medical device development experts across the region.