Thank you for stopping by our booth June 14–16 at ASMBS Weekend 2018 in New York City.
CincyTech announced on Monday the first three firms that will receive seed money from its latest investment fund.
Navistone, a data-driven marketing firm, and two health firms, ReadySet Surgical and Standard Bariatrics, will get funding from the Over-the-Rhine-based accelerator’s $30.1 million Fund IV, which closed in April. The fund is targeting to invest in 25 Southwest Ohio startups in the digital and life sciences fields that CincyTech officials say will create 600 new jobs in the next half decade.
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Standard Bariatrics, a Blue Ash startup founded by Dr. Jon Thompson of UC Health, has secured a $500,000 investment from the Dayton Development Coalition.
Thompson invented a medical stapler that could change how weight-loss surgery is performed, and the investment from the coalition’s Accelerant Fund I seed-stage venture fund will bring the total raised by Standard Bariatrics to more than $1.5 million by the end of this year.
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Cincinnati Children’s Hospital Medical Center announced today that it will invest $6 million to create startup companies based on technology developed by its researchers.
The hospital, based in Avondale, found out last week that it will receive $3 million in funding from Ohio’s Third Frontier economic development initiative, and Cincinnati Children’s intends to match that three-year grant with $3 million of its own to create the Tomorrow Fund III.
Officials at Cincinnati Children’s haven’t decided which technologies will be tapped for early stage funding to launch companies, but the hospital expects to focus on new methods of addressing unmet medical needs – especially those involving rare pediatric conditions.
Read the full article on Biz Journals.