Winner of U.S. Department of Commerce Economic Development Administration (EDA) i6 Challenge takes 1st steps in strategic acquisition.

ATLANTA, GA, USA, July 29, 2016 /EINPresswire.com/ -- July 29, 2016 (Atlanta, Ga.) - The Global Center for Medical Innovation (GCMI) announced today it has signed a letter of intent to acquire the ownership interest in T3 Labs, an industry leading preclinical CRO in Atlanta, from Emory/Saint Joseph’s, Inc.

T3 Labs is currently a development partner of GCMI and their good laboratory practice (GLP) studies have helped more than 30 medical devices achieve FDA /CE regulatory approval. Atlanta-based CardioMEMS developed the world’s first wireless implantable device that measures and monitors pulmonary artery pressures for heart failure patients through preclinical work at T3 Labs. CardioMEMS was acquired by St. Jude Medical in 2014 for $455 million.

“From concept to development through clinical trials, the critical infrastructure to support successful medtech innovation resides within close proximity to our facilities,” said GCMI Executive Director Tiffany Wilson. “Placing T3 Labs under GCMI’s umbrella will enhance operational efficiencies for both, creating and maintaining a capital efficient environment through collaboration and resource alignment. This is a high value proposition for medtech innovators, entrepreneurs, and regional economic development.

“Medical device innovation is a complex, expensive process, yet there is a tremendous need for novel solutions to unmet clinical needs. These are the technologies that will ultimately benefit patients and lower healthcare costs by improving the way physicians diagnose and treat disease. Given Atlanta’s fantastic resources, which include expertise at GCMI, T3 Labs, Georgia Tech and Emory Healthcare, we can help derisk many new medical technologies in a methodical way, making the process more transparent and predictable, decreasing the time required for a new device to get to market and attracting more investment.”

The teams have been collaborating to support GCMI’s incubator companies. Strataca Systems TM, developers of a novel device to treat kidney diseases, completed a $2 million raise after demonstrating proof of concept for their designs and technology with the support of both GCMI and T3 Labs.

As an affiliate of Georgia Tech, GCMI and the T3 team will be working closely with the academic and clinical community to identify, test, develop, and commercialize university innovations, supporting the growth of Georgia Tech’s innovation neighborhoods and the entrepreneurial ecosystem in Atlanta.


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About GCMI
The Global Center for Medical Innovation (GCMI) brings together core members of the medical device community, including universities, research centers, clinicians, established device companies, investors and startups, with the goal of accelerating the commercialization of innovative medical technology.
GCMI is an independent, not-for-profit, medical device innovation center — the first and only one of its kind in the Southeast. Launched in April 2012, the Center helps new-product teams enhance their product development, shorten time to market, and potentially achieve significant cost savings throughout the process. This collaborative environment makes everyone’s efforts more efficient and cost-effective. An affiliate of Georgia Institute of Technology, GCMI’s 12,000 square foot facility is conveniently located in Midtown Atlanta adjacent to Georgia Tech’s campus.
GCMI was one of six winners of the 2010 U.S. Department of Commerce i6 Challenge, a $12 million innovation competition led by the U.S. Department of Commerce’s Economic Development Administration (EDA), in partnership with the National Institutes of Health (NIH) and the National Science Foundation (NSF). The i6 Challenge was focused on driving commercialization and innovation in the U.S. in an effort to move great ideas from the lab to the patient while creating jobs and economic growth.
www.devices.net

About T3 Labs
Translational Testing and Training Laboratories, Inc. (T3 Labs) is a preclinical contract research organization (CRO) in Atlanta, Georgia. Medical devices and pharmaceuticals follow well-established paths to make sure that they are safe and effective when they reach the public. This path includes preclinical testing to determine if a product is effective and safe, and bioskills training which allows physicians and other end-users to evaluate or practice in clinical-grade environment.
www.t3labs.org

Penelope Pollard
GCMI
(404) 385 5191
email us here

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