BioInnovation Institute in Akro...( Public-private partnership commit...)

Public-private partnership commits more than $80 million to create a

leading center for medical excellence; collaboration will focus on

biomaterials and medical devices

AKRON, Ohio, Oct. 16 /PRNewswire/ -- Fueled by a grant from the John S. and James L. Knight Foundation, five leading medical and educational institutions today announced the creation of the BioInnovation Institute in Akron -- a unique collaboration that will expand upon the region's rich legacy in industrial and materials science to pioneer the next generation of life- enhancing and life-saving innovation for the 21st Century.

Founders of the BioInnovation Institute include Akron Children's Hospital, Akron General Health System, Northeastern Ohio Universities Colleges of Medicine and Pharmacy (NEOUCOM), Summa Health System, and The University of Akron.

"The BioInnovation Institute in Akron is uniquely positioned to meld the region's traditional strengths in research, education, and world-class health to create transformational new technologies with a direct impact on the people we collectively serve," said William H. Considine, chairman of the BioInnovation Institute and president and chief executive officer of Akron Children's Hospital. "Our vision of making Akron a leader in the biomaterials field is absolutely attainable, given Akron's intellectual, educational, research, and commercial strengths."
Mr. Considine said the BioInnovation Institute's goals include:

* Creating a nationally distinctive center of excellence at the

intersection of biomaterials and medicine

* Translating leading edge research into life-saving medical devices

* Improving the health of the community

* Rapidly growing annual biomaterials-related research funding across the

partners

* Increasing investment by national firms into regional biomedical start-

ups and companies

* Increasing employment o
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