We just received exciting news that Creo Quality’s UniDoc has been selected as one of the exhibiting companies at the upcoming Innovation Showcase on July 12, 2012.
This is awesome, and we are super stoked about participating in this event.
J & J to Get Out of Heart Stent Business
June 21, 2011 By Leave a Comment
Some big news from Johnson & Johnson was announced this week.
Johnson & Johnson is getting out of the heart stent business.
The diversified healthcare company said Wednesday it no longer will develop its Nevo heart stent and will stop production of its Cypher stent as it pulls back on a segment of its cardiovascular business that has suppressed earnings in recent years.
Analysts believe J&J’s decision to leave the stent market ultimately will benefit the New Brunswick, N.J.-based company by allowing it to focus on higher-growth divisions such as Biosense Webster, which develops and markets electrophysiology navigation systems and ablation therapy devices. Annual Cypher sales had reached $2.6 billion, but the stent was on track to earn merely $400 million this year, according to Gabelli & Co. analyst Jeff Jonas. Its current sales amount to about 1 percent of company profit.
J&J executives said the company’s new focus will revolve around access, diagnostic and therapeutic products for cardiology procedures, products to diagnose, access and treat lower extremity disease, and the Incraft Stent-Graft System, an investigational device for treating abdominal aortic aneuryisms.
“With the removal of a large, ‘troubled’ player from the market, we’re inclined to think industry dynamics—like pricing—might improve on the margin as well,” Leerink Swann LLC analyst Rick Wise wrote in a note to investors. “We also view the news positively for J&J, as the Cordis restructuring…should further drive positive operating leverage and better allow the company to focus on the business’ other, higher-growth divisions like Biosense Webster. All this should set the stage for J&J to drive better sales and operating in 2012 and beyond.”
It will certainly be interesting to see how this development affects Johnson & Johnson as well as its rivals.
New Tenant at Purdue Research Park Offers Drug Delivery System
May 13, 2011 By Leave a Comment
LyoGo, founded in 2009 by Rush Bartlett, Arthur Chlebowski, and Peter Greco, has developed patent-pending technology that stores a lyophilized, or freeze-dried, drug in one chamber and liquid diluents in the other. David Giddings, a medical industry veteran with more than 30 years of experience, is CEO. Charles Haywood, business development adviser, also is president and CEO of Mansfield-King, a contract manufacturer of personal-care products that was the fifth-fastest growing company in Indiana in 2010.
LyoGo was formed for the purpose of developing innovative drug-delivery systems. LyoGo is focused on engineering delivery systems which offer a superior user experience, are intuitive to use, improve safety and sterility, and substantially reduce or eliminate the need for refrigeration at room temperature, which improves drug storage and distribution. LyoGo develops systems for delivering drugs that are intentionally designed to easily fit into the established drug-filling processes of leading pharmaceutical companies.”
This is cool technology because freeze dried drugs don’t necessarily require refrigeration and can be kept for years at room temperature instead of a few hours. (Case in point- I have a jar of Folger’s Freeze Dried Coffee Crystals of which I only use a couple of tablespoonfuls once a year to make Christmas cookies. I have had the same jar for years, and my cookies still taste great- ask my husband…) Drugs like this can be used for stockpiling vaccines and for diabetes and cancer drugs. This is an excellent addition to West Lafayette’s life science industry.
Indiana Innovation Awards 2011
April 29, 2011 By Leave a Comment
I received the following note from Jerry McColgin of Insight2:
I wanted to make you aware of something that is coming out of Greater Indy Innovation Roundtable (GIIRT). We are launching the Indiana Innovation Awards (IIA)www.indianainnovationawards.com , patterned after the Chicago Innovation Awards. In support of this we will be looking for nominations for companies that have launched a truly innovative product or service over the past 2 years (you can see additional criteria on the web site). I’m guessing that there are companies that you work with that could easily be nominees for this award. There are probably many from INpact that would be interested as well (would you mind mentioning it at an upcoming meeting?) I’d love to invite you to the IIA season kick-off. It will be held downtown at Barnes & Thornburg on May 17th from 4-6 PM. There will be a speaker from Purdue there, free food & drink and a great kick-off for the IIA inaugural season.. We’re hoping to get a good turn-out including reps from our sponsors and judging panel. It would be a great place for you to see what is coming up and to learn more about the IIA.
If you are interested in participating, contact IIA. Also, be sure to submit your nominations.
INpact Selects Miles & Brinson As Marketing Partner
April 27, 2011 By Leave a Comment
FOR IMMEDIATE RELEASE
| Contact: | John Miles |
| Public Relations Director | |
| MB2 Advertising | |
| Phone: (317) 873-6655 x101 | |
| E-Mail: jmiles@MB2advertising.com |
Wednesday, April 27, 2011
INpact Network Selects Miles & Brinson, Inc., As
Public Relations Agency of Record
Indianapolis, IN – Miles & Brinson, Inc., has been named the public information, communications and media relations’ agency of record for the INpact, Inc.
The goals and objectives of this business relationship will be to communicate and enhance public and community awareness of the growing Medical Device Manufacturing industry in the State, including the huge economic benefit of the quality sustainable jobs that this business sector is creating for Indiana’s workforce.
INpact Network was created to assist in the promotion and growth of the Medical Device Industry and its related support membership. The Medical Device Industry is the catalyst for a strong new manufacturing base, positioning Indiana as a leader in attracting related business ventures to the State.
Jon D. Speer, President and Co-founder of INpact states “The members of INpact have a proven track record in supporting medical device product development and manufacturing. When we started INpact, these separate and sometimes competing companies agreed to come to the same table to help grow this industry in Indiana and the Midwest.”
Indiana’s Medical Device Industry is already successfully developing and manufacturing innovative products. The results have already established a foundation for quality, sustainable jobs, providing a new source of economic industrial growth in Indiana.
About INpact:
INpact is a professional business network association comprised of Indiana-based medical device manufacturers, technology companies, and related service and support organizations. This unified network exists to promote the Medical Device Industry and its membership throughout the State of Indiana.
INpact provides its membership with a variety of shared product development experiences and related industry support services, that are designed to assist in the successful growth of this emerging Indiana-based manufacturing industry.
For more information about INpact, visit: http://www.inpact.org.
ABOUT MILES & BRINSON (MB2)
MB2 is a full-service marketing communications agency founded in 1995 and headquartered in Indianapolis. The agency serves a diverse base of clients located throughout Indiana as well as in New York, Los Angeles, Miami and Chicago.
In addition to providing traditional advertising, interactive, public relations and media services, MB2 can provide its clients an array of advanced technology services.
This includes content managed dynamic websites, online marketing, enterprise email, social media, smart phone apps, QR code technologies, as well as digital video and photography.
More information about Miles & Brinson visit: http://www.mb2advertising.com.
Life Sciences in the Midwest
April 20, 2011 By Leave a Comment
A new contract sterilization company locating near Warsaw hopes to capitalize on the existing strength of the “Orthopedic Capital of the World,” while also expanding into other areas. Canada-based Iotron Industries says Columbia City, located in the agricultural heartland between Warsaw and Fort Wayne, offers the perfect geography for its three-prong growth strategy to increase its business in medical devices, commercial defense and agribusiness.
The $15 million facility in Columbia City is the company’s first U.S. operation and will split the distance between two major industry clusters: Warsaw’s orthopedic sector and Fort Wayne’s commercial defense industry, in which plastics and composites are used in aircraft and aerospace applications.
Indianapolis-based Medical Animatics, a 3D animation company, is making a foray into the game business. The company will develop a game for kids ages 6-12 to help them learn safe behaviors at home, in their neighborhoods, at school or at a park. Medical Animatics will develop the game for Ohio-based Nationwide Children’s Hospital. Health games designed to be both educational and enjoyable are being developed by two other companies with Indiana ties—Bloomington-based Wisdom Tools LLC and Indianapolis-based Gabriel Entertainment, as well as by growing numbers of developers around the country. Medical Animatics also develops 3D animated instructional and informational materials for the health care, higher education and sports industries.
Northern Indiana’s Manchester College plans to begin work this summer on its new $18 million pharmacy school. School spokeswoman Jeri Kornegay said Thursday that a ground-breaking for the 75,000-square-foot building in Fort Wayne is expected early this summer, possibly in June. Until the building is complete in July 2012, the college’s School of Pharmacy will continue to occupy space at Parkview Hospital in Fort Wayne, about 30 miles east of North Manchester. The project is supported by a $35 million grant from Lilly Endowment that’s the largest gift in the college’s history. While pharmacy schools have opened on a rapid pace around the nation in recent years, Indiana is one of 18 states with a shortage of pharmacists. Manchester’s will be the third in Indiana offering doctorates in pharmacy, joining schools at Butler University in Indianapolis and Purdue University in West Lafayette.
Indianapolis-based medical device maker NICO Corporation announced at the American Association of Neurological Society (AANS) annual meeting that it has received CE Mark approval for its automated minimally invasive brain tumor removal device, the NICO Myriad™. The approval allows NICO to sell the Myriad system in the 27 countries that make up the European Union. The device has been commercially available in the United States since 2009 with more than 1,000 procedures performed with adults and children, sometimes in cases that would have previously been considered inoperable.
On a sad note, Bill Cook, founder of the Bloomington-based medical equipment manufacturer Cook Group Inc., passed away this past week. He was 80 years old. Cook built Cook Group Inc. into a worldwide conglomerate, with 42 companies under its umbrella. The Cook Group employs about 10,000 worldwide with sales estimated at more than $1.5 billion. Cook’s company is one of the largest employers in Central Indiana, with about 3,000 workers in the Bloomington area.
Senate Medical Technology Caucus Formed
April 11, 2011 By Leave a Comment
The following is a press release from the office of the senators.
WASHINGTON, March 30 — The office of Sen. Scott Brown, R-Mass., issued the following news release:
U.S. Senators Scott Brown (R-MA) and Amy Klobuchar (D-MN) announced today that they will serve as co-chairs for the new Senate Medical Technology Caucus in the 112th Congress. The caucus aims to increase awareness about issues facing the medical technology sector, an industry that creates life-saving and life-enhancing innovations that improve patient care.
“In Massachusetts, we have more than 200 medical device companies and hundreds of bio and pharma companies, all of which provide good-paying jobs to thousands of citizens,” Brown said. “It is critical that we provide a business environment for them to innovate, grow and thrive. I’m pleased to be the Republican chair of this bipartisan caucus, and look forward to working with my colleagues on both sides of the aisle to give our medical device and technology companies the tools and resources they need to continue their important work.”
“These businesses not only spark medical breakthroughs, they save lives,” Klobuchar said. “Every day in every state small medical technology companies are driving the innovation agenda we need to compete in a global economy. I will continue to work to make sure that Minnesota remains a leader in health care innovation by developing innovative products while maintaining patient safety.”
The United States is the world’s only net exporter of medical devices, with a $5.4-billion annual trade surplus. Minnesota is home to 400 medical device practices that support over 50,000 jobs in the state. The industry provides good-paying jobs to more than 400,000 Americans, with total direct and indirect employment exceeding two million.
Klobuchar has led the effort to cut red tape that threatens innovation in this industry. After a December report surveyed over 200 medical technology companies and found that confusing and contradictory regulations are stifling innovation, Klobuchar and Brown pushed the Food and Drug Administration (FDA) to reform its slow and inconsistent 510(k) approval process for medical devices to maintain safety, protect patients, and encourage innovation. Klobuchar is the chair of the Senate Commerce Subcommittee on Competitiveness, Innovation, and Export Promotion, and plans to hold a hearing to examine the medical device approval process and to examine ways to improve export options.
TNS mv45 110331-3313581
(c) 2011 Targeted News Service
Hopefully this move will increase awareness about our industry and how the impending tax on revenues and other red tape stifles innovation that creates important life-saving and life-enhancing products.
Life Sciences in the Midwest – March 2011
March 22, 2011 By Leave a Comment
David Floyd stepped down as president of Warsaw-based DePuy Othopaedics according to massdevice.
“David Floyd is no longer the top man at DePuy Orthopaedics, leaving the Johnson & Johnson (NYSE:JNJ) subsidiary in the midst of a damaging recall of one of its hip replacement line that has already cost it nearly $1 billion in legal expenses.
DePuy Orthopaedics, the Warsaw, Ind.-based Johnson & Johnson subsidiary, said Floyd is leaving to pursue outside interests. No replacement has been named, according to MarketWatch.”
Depuy is a Johnson and Johnson subsidiary. J & J has been in the news quite a bit recently because of the many recalls that have been issued on products from medical devices to medicine. Medicaldevicenow talks about the recall on insulin pump cartridges.
“The New Brunswick, N.J., based healthcare giant, which has been plagued recently by a seemingly endless stream of product recalls, has recalled five lots of potentially leaky insulin pump cartridges that the company said could lead to serious health problems and death.”
Johnson and Johnson have even had to lower their CEO’s salary from last year as a result of the recalls as stated in topix.
“Health care giant Johnson & Johnson lowered Chief Executive William Weldon’s total compensation by 9 percent in 2010, after two years of revenue declines and an unprecedented string of recalls that have battered the reputation of medicines like Tylenol and other household brands.”
On a different note, how will the tax on medical devices that is to go into effect in 2013 affect Indiana companies? As per this article in the Indianapolis Star, companies like Bloomington-based Cook Medical could look at serious decrease in growth as a result of being forced to pay 55 percent in tax.
“The U.S. medical device industry is about to go on life support from a new tax on medical device companies that starts in 2013 and because of a Food and Drug Administration that keeps novel devices and their benefits from American patients. Nothing less than the well-being of millions of patients, as well as the health of the American medical device industry, is at stake
Few sectors pack the economic punch of the medical device industry, which employs 360,000 Americans and pays $21.5 billion in annual wages. One job creates two spinoff jobs. Medical devices fuel $123 billion in annual exports. The impact on communities like Lafayette/West Lafayette, where Cook Medical employs more than 300, and throughout Indiana, where Cook-affiliated companies employ about 4,000, is obvious: no job growth because the FDA stalls innovation.
Equally ominous is a 2.3 percent medical device tax. Set for 2013, that tax may seem like just a few cents on the dollar, but because it is a top line tax on sales, the impact on profit is about 15 percent. Tack on the 35 percent federal corporate tax already paid — the highest in the world — a state corporate tax rate averaging 5 percent, and we have a combined tax rate of 55 percent.
Imagine paying a 55 percent tax on every dollar earned by every member of your household. It is an impossible burden. A medical device tax, coupled with increasingly unwarranted FDA regulations, leaves companies like Cook Medical with a cloudy future, as competitors turn to Europe to manufacture and sell new devices.”
Another Medical Application Receives FDA Approval
March 3, 2011 By Leave a Comment
A couple of weeks ago, I blogged about the FDA clearance of the Mobile MIM, which allows physicians to view radiology images on their iPhone or iPad. It seems the FDA has recently cleared another medical application.
“Mobisante has announced that its MobiUS ultrasound imaging system has received FDA clearance to be marketed in the United States.
MobiUS is the world’s first smartphone-based commercial ultrasound system. It consists of an ultrasound probe and a Toshiba Windows Mobile-powered smartphone with Mobisante’s software on it. Since the system is based on smartphones, it is extremely portable and very affordable compared to traditional ultrasound systems. In addition, it can utilize the cellular network and Wi-Fi capabilities of the smartphone to send images remotely.”
See more at Medgadget
These developments are certainly exciting to our industry. It makes me wonder, “What’s next?”
Life Sciences in the Midwest- New Developments
February 22, 2011 By Leave a Comment
There have been several interesting developments in the life sciences industry in the Midwest this month.
Endocyte, a biopharmaceutical company developing targeted therapies for the treatment of cancer and inflammatory diseases, announced on February 4 the pricing of its initial public offering of its common stock. Endocyte is based in West Lafayette and intends to utilize the proceeds from the IPO to fund its phase 3 clinical trial related to the use of EC145 and EC20 in platinum-resistant ovarian cancer and to move preclinical products forward in the development process.
For more information see Endocyte and Endocyte Announces IPO.
Danaher Corp. climbed to the highest price since 1980 after agreeing to pay $6.8 billion for diagnostic-equipment maker Beckman Coulter Inc. amid higher demand for medical tests from an aging U.S. population. The Brea, California based Beckman manufactures products used to diagnose diseases and in the development of new drugs, including centrifuges, hematology analyzers and cell sorters. Beckman has a facility in Indianapolis that employs several hundred people.
See more on Beckman.
Marcadia Biotech Inc., a Carmel-based biopharmaceutical company founded by former Eli Lilly and Co. executives in 2006, has been acquired by Swiss life sciences giant Roche. Roche’s holdings include Roche Diagnostics in Indianapolis, which has about 3,500 local employees. Marcadia is a relatively small firm, but has raised millions in venture capital.
Read more about Marcadia.
I look forward to seeing the continual progression and development of businesses in our area.
A New Frontier for Medical Applications
February 16, 2011 By 1 Comment
I’m no techno whiz, but it seems like the latest buzz in the medical device industry is the FDA clearance of the Mobile MIM, which allows physicians to view radiology images on their iPhone or iPad.
Massdevice states:
“The first medical app ever in the Apple Inc. (NSDQ:AAPL) app store is now the first app to receive 510(k) clearance from the Food & Drug Administration to be used to review and make medical diagnoses of MRI, CT and PET scans.
Mobile MIM, created by the Cleveland, Ohio-based MIM Software, shrinks the size of radiology images and transfers them securely while still allowing physicians to measure distance of the image and image intensity values, among other things.
The app is not replacing the full workstation, but can be used to make a diagnosis when a physician does not have access to a workstation, according to the FDA.”
Medical News Today also had an article about the MIM:
“A new mobile radiology application cleared by the U.S. Food and Drug Administration will allow physicians to view medical images on the iPhone and iPad manufactured by Apple Inc.
The application is the first cleared by the FDA for viewing images and making medical diagnoses based on computed tomography (CT), magnetic resonance imaging (MRI), and nuclear medicine technology, such as positron emission tomography (PET). “
Even Medgadget had something to say:
“For the app’s review, the FDA performed various tests that measured luminance, image quality (resolution), and noise. These tests were performed under various lighting conditions, which often create significant, but important differences in images.”
Massdevice also had another article about the “long, strange trip” that was the path to the FDA finally approving the MIM for a medical device:
“If there’s any good news for other radiology app developers, it’s that Beachwood, Ohio-based MIM’s experience might — might — provide a roadmap of sorts for the FDA to follow in reviewing similar apps for mobile devices like the iPhone and iPad in the future. And that’s no small point for a health IT industry that’s suffering from a lack of clarity when it comes to knowing what the FDA wants from developers of medical apps, many of which fall under the FDA’s jurisdiction because they’re considered medical devices.”
Even my non-techy-pseudo-scientific brain can wrap itself around he fact that a medical application actually receiving clearance from the FDA certainly bodes well for the technological future of our industry.
A New Perspecitive on Health Care Reform
February 7, 2011 By Leave a Comment
“The tax imposed on device manufacturers as part of last year’s controversial healthcare reform legislation may be one of many factors driving the outsourcing of medical devices”, according to a new report by Kalorama Information titled “Contract Manufacturing in Medical Devices (Materials, Processing, Electronics, Finished Products).””
I found the above in a recent issue of Medical Device Now. In the same issue, a separate article appeared with the information below.
“On Tuesday, Jan. 26, companion bills were introduced in the U.S. House of Representatives and the Senate to repeal the medical device tax included in the Patient Protection and Affordable Care Act—aka the healthcare reform law—passed last year.”
Last year it seemed like everyone from Rush Limbaugh to P. Diddy had an opinion on the bill, whether they believed it was the best thing since sliced bread, or sure to be the downfall of the American Economy. When sorting through the various perspectives, it never really occurred to me to consider how the law would influence manufacturing. I seemed to ponder more how it would affect the little old ladies on Social Security, or someone like my brother who has learning disabilities and is on Medicaid. I also, of course, thought about how it would change things for my family. We receive great insurance through my husband’s company and don’t particularly need government sponsored health care. Being new to the Life Science industry, it is fascinating to me to gain a new perspective.
New Facility For Orthopedic Instruments To Be Built In Ft. Wayne
February 2, 2011 By Leave a Comment
Greatbatch Medical announced it will build an 80,000 sq. ft. facility in Ft Wayne. The total investment in the facility will be 17 million dollars and will relocate 100 jobs from neighboring Whitley County and will also create 76 jobs. The facility will be used to develop orthopedic market instruments for hip procedures and spine fixation, as well as fracture fixation implants and instrumentation for the largest orthopedic medical device companies.
I have heard “the economy” blamed for alot of things lately, from the inability to find a job, to the failure of a business, to the downturn in the housing industry. I find it exciting that even in these tough economic times, there is still growth in this industry.
For more information check out Medical Device Now.
Educational Programs Aiming to Fill Qualified Worker Needs
April 16, 2010 By Leave a Comment
In January 2009, Ivy Tech Community College’s Bloomington campus and Monroe County opened The Indiana Center for the Life Sciences, a 20,000-square-foot training center. The goal of the center is to train new work force for the life sciences arena.
Life sciences is a fast growing field and the need for qualified workers is growing. Apparently, students aren’t rushing in to the life science industry, according to director John Stephens, but last year Ivy Tech graduated 23 students and 20 of them were immediately employed.
So how do life science hubs like Bloomington attract more students to the life science industry and their educational programs? Keep your eye out for the answer in the coming weeks blog posts.
Got your own ideas? Please leave a comment.
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A few simple truths about Bloomington life sciences
April 14, 2010 By Leave a Comment
The original article was posted in The Herald Times, but below are a few points that we found important to touch upon. To read the full article, click here.
A few simple truths about life sciences in Bloomington:
- Individuals like Bill Cook shaped “life sciences†in Btown before anybody crafted the term.
- Bloomington was an early adopter, but is no longer alone and competition is growing.
- Manufacturing lines need more workers who are qualified.
- New laboratories need researchers today.
- The small life sciences companies need more capital ASAP.
The problem is that changes are not being made fast enough…
“It is not something that we can do overnight,†said Danise Alano, director of life sciences at City Hall. “But we are in this together to make this cluster as strong as it can be.â€
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