Medical devices manufacturer Boston Scientific has partnered with Mayo Clinic, a non-profit academic medical centre, to launch an accelerator focused on medical solutions for diseases with unmet clinical needs.
Named Motion Medical, the new 1,800ft² venture will receive funds from partners over three years to develop new medical technology and minimally invasive therapies.
Motion Medical research facilities will be located in the Discovery Square research district’s bioscience centre called One Discovery Square in Rochester, Minnesota, US.
Boston Scientific and Mayo Clinic have been working together for approximately ten years for the development of medical devices and technologies across interventional cardiology, neuromodulation and urology therapeutic areas, among others.
To date, the companies have submitted eight patent applications and partnered on two first-in-human clinical trials, according to Mayo Clinic.
The new venture is expected to further integrate Boston Scientific’s expertise in engineering, innovation and business with Mayo Clinic’s clinical experience and patient care.
Boston Scientific chairman and CEO Mike Mahoney said: “This collaboration between Mayo Clinic and Boston Scientific builds on our experience working together to support the shared goal of advancing patient-centred innovation.
“This approach combines the unique strengths of our two organisations, and we look forward to working together to solve complex healthcare challenges.”
Boston Scientific develops a variety of medical solutions for endoscopy, rhythm management, interventional cardiology, peripheral interventions, neuromodulation, urology and pelvic health.
In November last year, the company signed an agreement to buy BTG for £3.3bn. BTG has three main businesses and Interventional Medicine is said to be the largest.
The acquisition is expected to help boost Boston Scientific’s capabilities in cancer and pulmonary embolism.