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Akron Relationship with Israeli Incubator, Targetech, Shows Promise
Date:5/19/2011

ere is a strategic overlap between the incubator's pipeline and our local strengths we increase the likelihood of success and therefore drive IRR for Targetech's investors," said Neil Wyant, Targetech's Akron-based chairman.  "The relationship with BioEnterprise brings strong resources to our effort to commercialize biomedical technologies locally."

About Targetech:

Targetech Innovation Center is a dynamic high technology Incubator located in Netanya, Israel and operating under the Israeli Chief Scientist High-Tech Incubator Program.  Targetech has adopted a commercialization model focused on medical devices and biomaterial applications. Under this model Targetech engages US opinion leaders to provide early and ongoing guidance and strategic access to important world markets. In addition, Targetech provides financial and operating resources during the incubator period as well as access to follow-on financing. By combining early market input and ongoing guidance, access to leading clinical resources in Israel and in the US, the model reduces market and technical risk thereby increasing the likelihood of global success.  For more information, see http://www.targetech.co.il.

About BioEnterprise:

BioEnterprise is a business formation, recruitment, and acceleration effort designed to support the growth of bioscience companies. Located in Cleveland, BioEnterprise provides management counsel and support services to health care companies.  BioEnterprise partners are Case Western Reserve University, Cleveland Clinic, University Hospitals, Summa Health System, and the Austen BioInnovation Institute in Akron. Additional technology partners include the NASA Glenn Research Center, Cleveland State University, NorTech, and BioOhio.  The initiative comprises the collective activities of BioEnterprise and its partners' commercialization offices: the Case Office of Technology
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SOURCE Targetech Innovation Center
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