Rochester, Minn.-based Mayo Clinic is collaborating with an Irish agency to speed up commercialization of medical research and launch 10 "spin out" firms in five years, according to a Minneapolis/St. Paul Business Journal report.
Mayo has teamed up with Enterprise Ireland, a company that helps promote Irish manufacturing. Enterprise will take more than 20 of Mayo's early stage medical devices and treatments — researched and developed in Rochester — and work with Irish universities to turn the developments into "market-ready" products, according to an Irish Independent report. The Irish government will commit about $16.6 million in funding to help the program.
Mayo has said preparing research products for market in the U.S. has become more expensive, according to the Minneapolis/St. Paul Business Journal report. The first project under the partnership — a device for treating acute pancreatitis —is being developed at the National University of Ireland in Galway.
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