COLUMBUS, Ohio, April 29 /PRNewswire/ -- The Ohio State University, Cardinal Health and Ohio Third Frontier today announced a collaboration that will invest more than $10 million to help shape the future of the medical diagnostic industry, combining Ohio State's Wright Center of Innovation in Biomedical Imaging research capabilities and Cardinal Health's manufacturing and commercialization expertise for molecular imaging agents.
Molecular imaging is one of the fastest growing areas in biotechnology, where specialized pharmaceuticals are injected into the body and seek out cellular functions related to specific disease. These imaging agents are visible using sophisticated imaging equipment, resulting in the ability to diagnose disease before a patient exhibits symptoms.
The partnership will expand OSU's Wright Center of Innovation in Biomedical Imaging to include a new Molecular Imaging Technology Center. The center will house Ohio State's researchers, as well as Cardinal Health's radiopharmaceutical manufacturing facility and nuclear pharmacy operations. Also, a distinguished faculty position in radiopharmaceutical chemistry will be added to Ohio State's department of radiology.
The new Molecular Imaging Technology Center will provide Ohio State researchers with unique manufacturing capabilities and expertise to aid development of new molecular imaging agents in Positron Emission Tomography (PET imaging). Cardinal Health will support manufacturing and dispensing of these agents for clinical trials across its national network of radiopharmaceutical facilities.
"While we expect to immediately create up to a dozen highly-skilled jobs with this exciting new partnership, the true value is collaborating with Ohio State and Cardinal Health to attract the best and brightest researchers to Ohio and continue to diversify our state's economy," said Lieutenant Governor Lee Fisher.
"Never before has the University's role in generating long-term economic growth been more evident," said E. Gordon Gee, president of the University. "The Wright Center of Innovation in Biomedical Imaging is an excellent example, creating some 280 jobs, attracting or launching nine companies and generating a 10-to-1 return on the state's investment."
John Rademacher, president of Cardinal Health's Nuclear Pharmacy business said, "Researchers and industry alike will be attracted to the Molecular Imaging Technology Center as a one-stop shop for research, development, clinical investigational trials and full commercialization of new molecular imaging agents."
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|SOURCE Ohio Business Development Coalition|
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