Newsroom

News Channel RSS

Vascular imaging firm headed back to Ohio, thanks to state grant
August 26, 2010
Summary: One that got away is coming back. After defecting to Bethlehem, Pennsylvania, about three years ago from Columbus, InfraRed Imaging Systems Inc. is planning a move back to Ohio after securing an $812,000 Third Frontier grant (pdf) in June. CEO Dale Siegel just doesn’t know where yet. The resident of Central Ohio town Marysville is considering his hometown, the Columbus area or Cleveland suburb Eastlake. It’s been a long and winding road for the company founded in 2001 after licensing technology discovered at Dayton’s Wright-Patterson Air Force Base, but one theme has defined InfraRed Imaging since its inception: a difficulty in securing funding.
Continue Reading Vascular imaging firm headed back to Ohio, thanks to state grant
ViewRay Inc. secures $20 million investment led by Siemens Venture Capital
August 25, 2010
Summary: A medical imaging company that moved to Northeast Ohio from Florida two years ago has secured a $20 million investment led by Siemens Venture Capital Gmbh. ViewRay Inc. of Oakwood Village will use the money to move its technology from the late stages of development to the market. The company is developing a product called the Renaissance System 1000 that uses magnetic resonance imaging in an effort to improve the accuracy of radiation used to kill cancerous tissue. The system initially will be used for nonclinical research at Barnes-Jewish Hospital at Washington University Medical Center in St. Louis.
Continue Reading ViewRay Inc. secures $20 million investment led by Siemens Venture Capital
Radiation therapy firm ViewRay grabs $20M Series C investment
August 25, 2010
Summary: ViewRay Inc., which is developing MRI-based technology to deliver radiation therapy to cancer patients, has secured a $20 million Series C funding round. The company is in the late stages of developing its technology, and the funding will be used to further product development, complete the first few installations of the company’s technology and beef up its sales and marketing efforts, according to CEO Greg Ayres. The funding round was led by new investor Siemens Venture Capital GmbH and joined by existing investors Aisling Capital, Fidelity Biosciences, Kearny Venture Partners and OrbiMed Advisors, according to a statement from ViewRay.
Continue Reading Radiation therapy firm ViewRay grabs $20M Series C investment
Medical device outsourcing company Farm to open Cleveland office
August 19, 2010
Summary: Farm, a company that specializes in product development for medical device firms, is opening an office at the Cleveland Clinic’s new cardiovascular technology incubator. Farm plans to staff the office with executives from its New Hampshire offices beginning next week, but eventually hopes to hire a dedicated Cleveland staff, said Matt Harkins, Farm’s business development manager. “Our ultimate goal is to build a big-enough client base in Cleveland to support a staff there to do development work,” he said.
Continue Reading Medical device outsourcing company Farm to open Cleveland office
Simbionix to move education division to Cleveland
August 16, 2010
Summary: Medical education company Simbionix USA Corp. plans to relocate employees from Denver, Colorado, to consolidate the company’s education division in its newly expanded Cleveland headquarters. While any job growth in Northeast Ohio is certainly welcome news, it’s unclear how many jobs the move will bring. Closely held Simbionix is still working out the details, and an executive wouldn’t say how many workers it employs in Denver. The company is making the move to streamline operations in its growing education division and facilitate collaboration among employees, said Paul Jensen, general manager of the division.
Continue Reading Simbionix to move education division to Cleveland
Cleveland HeartLab business has ‘exploded’ (in a good way)
August 13, 2010
Summary: In the words of Cleveland HeartLab CEO Jake Orville, business has “exploded” since the beginning of the year, just months after his company launched a proprietary test for cardiac inflammation under a fee-for-service model. Cleveland HeartLab is a CLIA-certified and CAP-accredited reference lab that does an array of lipid and inflammation tests for clients. The Cleveland Clinic spun off the company with a cardiac inflammation biomarker developed by Dr. Stanley Hazen and his colleagues there.
Continue Reading Cleveland HeartLab business has ‘exploded’ (in a good way)
Betting on Incubators to Create Jobs
August 12, 2010
Summary: Back in 2008, when BizVeo was little more than a business plan in a home office, its two founders joined the Youngstown Business Incubator in northeastern Ohio. Today, two of the eight-person startup's clients each pay around $65,000 a year to use its software, a video communication tool linking doctors and patients. Chief Executive Tony DeAscentis says the business should be profitable by mid-2012, about four years sooner than he had expected. Incubators are "without a doubt the best thing someone could ask for," says DeAscentis, 49, who also used the Youngstown incubator to launch, with partners, his first venture, Turning Technologies, now a 200-employee, $40 million maker of software that conducts real-time polling of audiences while they're watching a presentation.
Continue Reading Betting on Incubators to Create Jobs
Simbionix expands offices in Cleveland and Israel
July 28, 2010
Summary: Fueled by growing demand for its medical simulation technology, Simbionix is expanding the size of its corporate headquarters in Cleveland and moving into a new research and development facility in Israel. Part of what’s driving the company’s growth is its medical education division, which announced two new hires in June. The education division develops curriculum and training materials that help doctors and other medical professionals learn how to use the company’s simulators. The company’s simulators teach users how to perform medical procedures in a wide variety of areas, including urology, cardiology and laparoscopy.
Continue Reading Simbionix expands offices in Cleveland and Israel
Simbionix expands offices in Cleveland and Israel
July 28, 2010
Summary: Fueled by growing demand for its medical simulation technology, Simbionix is expanding the size of its corporate headquarters in Cleveland and moving into a new research and development facility in Israel. Part of what’s driving the company’s growth is its medical education division, which announced two new hires in June. The education division develops curriculum and training materials that help doctors and other medical professionals learn how to use the company’s simulators. The company’s simulators teach users how to perform medical procedures in a wide variety of areas, including urology, cardiology and laparoscopy.
Continue Reading Simbionix expands offices in Cleveland and Israel
Celartia gets tax credit to set up new Ohio office
June 29, 2010
Summary: Laboratory equipment manufacturer Celartia Ltd. has received a six-year, 45 percent tax credit to create a new office in Ohio. In return for the tax credit, which is valued at about $123,000, the Spanish company would create 19 jobs generating $1.4 million in annual payroll within three years of beginning operations in the state, according to a statement from the Ohio Department of Development.
Continue Reading Celartia gets tax credit to set up new Ohio office

Page