Rochester seeking $220K state grant for Mayo Clinic startup

The city of Rochester, Minn., is seeking a $220,000 grant from the state to fund a Mayo Clinic startup, the Post Bulletin reported.

The Rochester-based health system and venture capital firm Eclipse launched RadioPharma in October with $6 million in seed funding. The startup aims to develop technology for cancer-treating radiopharmaceuticals.

"If you're an individual needing that therapy, it needs to be manufactured for you. … It needs to be available. Because of this problem, we're now working with investors and third parties to bring manufacturing capability not just to Mayo but to make it available countrywide," Jim Rogers III, chief business development officer of Mayo Clinic, said at a January press conference, according to the Post Bulletin. "That's the type of activity that we really focus on. These are the types of collaborations that we think are important."

A Rochester City Council public hearing on the Minnesota Investment Fund grant application is set for Feb. 6, according to the Jan. 30 story.

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