Navigation Links
BioMotiv Secures $21 million in Initial Funding
Date:9/5/2012

CLEVELAND, Sept. 5, 2012 /PRNewswire/ -- BioMotiv today announced that it has secured $21 million in financing from its founding investors, University Hospitals and the Harrington Family. 

"BioMotiv is a new model for accelerating breakthrough discoveries into medicines and aligning capital and collaborations to develop a portfolio of therapeutics," said Baiju R. Shah, Chief Executive Officer of BioMotiv.  "Through their commitment, University Hospitals and the Harrington family have once again demonstrated their dedication to solving a major national challenge that prevents promising discoveries from advancing to patient benefit."

"The challenge of translating discoveries into clinical development requires an innovative, next-generation business model," said Ron Harrington, a successful entrepreneur and recognized philanthropist. "BioMotiv's mission-aligned model and experienced team will enable it to efficiently and effectively manage a portfolio of early-stage drugs."

BioMotiv is the mission-driven, for-profit therapeutic accelerator affiliated with The Harrington Project for Discovery and Development, a $250 million initiative announced by University Hospitals this past February. "Our mission is 'To Heal. To Teach. To Discover.,'" said Achilles A. Demetriou, MD, PhD, Chief Operating Officer of University Hospitals.  "The project, supported by the generosity of the Harrington family, is a national initiative to advance the standard of care by creating structures that support physician-scientists in developing their insights into new therapies."

The initial capital will be used to launch operations and initiate the development of BioMotiv's technology portfolio which is being sourced from leading academic medical centers and industry sources from across the country.  The company plans to raise a total of $100 million in capital.

About The Harrington Project for Discovery and Development

The Harrington Project for Discovery and Development (The Harrington Project), announced in late February, is a $250 million national initiative to support the discovery and development of breakthrough discoveries by physician-scientists.  The Harrington Project, centered at University Hospitals Case Medical Center, is a new and powerful national model that addresses a set of major challenges in advancing medicine.  It includes the UH Harrington Discovery Institute, a national Innovation Support Center, and BioMotiv. The project, powered by a generous gift and investment from the Harrington family, successful entrepreneurs and recognized philanthropists in Cleveland, provides a comprehensive model to advance discoveries into development and to create novel therapies for patient care.

For more information about The Harrington Project and the UH Harrington Discovery Institute, go to: UHHarringtonDiscoveryInstitute.org.

For more information about BioMotiv, go to: www.BioMotiv.com.


'/>"/>
SOURCE BioMotiv
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. BioMotiv Names New Chief Executive Officer
2. Delcath Systems, Inc. Secures $20 Million Credit Facility
3. Argos Therapeutics Secures $25 million Series D Financing to Commence Phase 3 ADAPT Study in Patients with Metastatic Renal Cell Carcinoma (mRCC) in Mid-2012
4. Benvenue Medical Secures $25 Million Series D Financing
5. PLC Systems Secures Additional Financing For US Clinical Trials And General Working Capital
6. Dr. Jills Foot Pads Secures GSA Schedule and Expands to Service VA and Federal Agencies
7. Alexza Secures a $20 Million Committed Equity Financing Facility with Azimuth Opportunity, L.P.
8. Precision Optics Corporation Announces $1 Million Order for Microprecision™ Based Endoscopes
9. CareFusion to Sell Neurodiagnostic Business to Natus Medical for $58 Million
10. Arthrosurface Hits a $100 Million Milestone
11. Vermillion Sets First Quarter 2012 Conference Call for Tuesday, May 15, 2012 at 4:30 p.m. ET
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... June 23, 2016 Research and Markets ... Medical Market Analysis 2016 - Forecast to 2022" report ... The report contains up to date financial data derived from ... of major trends with potential impact on the market during ... market segmentation which comprises of sub markets, regional and country ...
(Date:6/23/2016)... June 23, 2016 Bracket , a leading ... next generation clinical outcomes platform, Bracket eCOA (SM) 6.0, ... June 26 – 30, 2016 in Philadelphia ... Clinical Outcome Assessment product of its kind to fully integrate ... Bracket eCOA 6.0 is a flexible platform for electronic ...
(Date:6/23/2016)... -- Astellas today announced the establishment of Astellas Farma Colombia (AFC), a new affiliate with operations headquartered in ... . ... ... ... Astellas is ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... June 26, 2016 , ... On June 10-11, 2016, A ... 2016 Cereal Festival and World’s Longest Breakfast Table in Battle Creek, MI, where the ... history as home to some of the world’s leading providers of cereal and other ...
(Date:6/25/2016)... D.C. (PRWEB) , ... June 25, 2016 , ... ... discuss health policy issues and applications at AcademyHealth’s Annual Research Meeting June 26-28, ... their work on several important health care topics including advance care planning, healthcare ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern ... Laude and his M.D from the David Geffen School of Medicine at UCLA. He ... Los Angeles to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events may ... to unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. To ... for healthy coping following a traumatic event. , Trauma sufferers tend to feel a ...
(Date:6/24/2016)... ... June 24, 2016 , ... Dr. ... accelerated orthodontic treatment. Dr. Cheng has extensive experience with all areas of orthodontics, ... and accelerated osteogenic orthodontics. , Micro-osteoperforation is a revolutionary adjunct to orthodontic ...
Breaking Medicine News(10 mins):