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Children's Hospital Boston Advances Cutting-Edge Technologies with its New Technology Development Fund
Date:5/8/2009

Children's Hospital Boston launched a new Technology Development Fund aimed at advancing promising early-stage hospital technologies, such as drugs, diagnostic tests and medical devices.

Boston, MA (Vocus) May 8, 2009 -- Children's Hospital Boston launched a new Technology Development Fund aimed at advancing promising early-stage hospital technologies, such as drugs, diagnostic tests and medical devices. The program will ultimately spend more than $1 million per year to fund projects that are not traditionally carried out in academic labs but are necessary for technology validation, including large-scale animal studies, prototype development and advanced pre-clinical testing.

Traditionally, research institutions often partnered with companies to carry promising laboratory findings into preclinical and clinical development, which can be a lengthy and expensive process. Today, the changing business climate is evaporating interest in early-stage technologies. "Companies are downsizing not only in terms of people, but in terms of the number of products they can reasonably support the development of," says Erik Halvorsen, Ph.D., director of Technology and Business Development at Children's. "If the number of programs they can support are limited, they want them to be less risky and at a later stage in their development."

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