Cleveland Clinic Foundation

Cleveland Clinic Foundation, established in 1921 and headquartered in Cleveland, Ohio, operates as a non-profit academic medical center that integrates clinical care, hospital services, research, and education. Its mission is focused on enhancing patient care, investigating medical challenges, and educating healthcare professionals. The organization is also home to Cleveland Clinic Innovations, which serves as its commercialization arm. This division transforms groundbreaking inventions from Cleveland Clinic employees into medical products that benefit patients. By fostering an inclusive entrepreneurial environment, Cleveland Clinic Innovations encourages participation from various stakeholders, including physicians, nurses, researchers, and administrators. Its comprehensive approach encompasses deal teams, domain experts, investment funds, and incubation facilities, all geared towards creating companies and deploying innovative medical technologies in the commercial market, thereby supporting economic growth in Northeast Ohio and beyond.

Sarah Hatchett

Senior Vice President and Chief Information Officer

Dennis L. Laraway

CFO

Akhil Saklecha

Managing Director

Timothy Spiro

Chairman of Regional Oncology

Kelli P. Washington

Managing Director of Research and Investment Strategy

Past deals in Ohio

MediView

Venture Round in 2023
MediView, LLC is a medical device company based in Cleveland, Ohio, founded in 2017. It specializes in augmented reality surgical navigation systems aimed at enhancing the surgical process for healthcare providers. The company's flagship product utilizes extended reality technology to improve the accuracy and efficacy of cancer therapies, specifically in the ablation and biopsy of cancerous tumors. MediView's innovative approach includes real-time, fused-holographic visualization, allowing surgeons to navigate procedures with 3D augmented reality. This technology supports telehealth initiatives and enables remote collaboration, allowing for a more effective examination of patients compared to traditional 2D displays.

Centerline Biomedical

Series B in 2022
Centerline Biomedical, Inc. is a Cleveland-based company founded in 2014, focused on developing advanced navigation systems for interventional vascular procedures. The company specializes in a non-x-ray based, three-dimensional GPS surgical navigation technology that enhances the precision and outcomes of endovascular procedures while significantly reducing radiation exposure for both patients and healthcare providers. This innovative system assists surgeons in accurately navigating catheters and guide wires through the complex three-dimensional anatomy of patients with vascular diseases, ultimately enabling safer and more effective image-guided surgeries. The technology is rooted in research and development from the Cleveland Clinic, highlighting its commitment to improving surgical practices in the medical field.

Cleveland Diagnostics

Series D in 2021
Cleveland Diagnostics, Inc. is a company focused on developing and commercializing innovative cancer diagnostics and screening tests. Founded in 2013 and headquartered in Cleveland, Ohio, the company offers a range of non-invasive blood-based tests designed to screen for various types of cancer, including prostate, breast, and ovarian cancer. Cleveland Diagnostics aims to create a new class of diagnostic tests that demonstrate high sensitivity and specificity, enabling early detection of cancer when it is most treatable. The company has formed a strategic collaboration with Genomic Health to further enhance its diagnostic capabilities.

NeuroTherapia

Series A in 2020
NeuroTherpia, Inc., founded in 2015 by Drs. Mohamed Naguib and Joseph Foss, is developing new therapies for diseases with an underlying component of neuroinflammation. Initial research has led to the development of our lead compound NTRX-07. NTRX-07 (previously known as MDA7) has been shown to decrease activation of microglial cells in the brain. Decreasing activation of these cells leads to decreased inflammation and decreased injury to surrounding nerve cells. Decreasing this inflammation can treat and even prevent the development of neuropathic pain in settings of nerve injury or chemotherapy. Recent work has shown that blocking this inflammation is also important in reversing the effects seen in Alzheimer's disease. We are currently doing preclinical safety studies and plan on studying NTRX-07 in humans in 2016.

Ascent

Seed Round in 2014
Ascent is a national tele-health provider of certified addiction support services that uses artificial intelligence to predict impending relapse and deliver proactive coach led interventions. The service provides value add for end users by being delivered through its integrated chronic disease management platform by Sober Grid, Inc The Sober Grid app has been studied by researchers who have identified that there is a correlation with the use of the Sober Grid app and lower relapse rates. Ascent powered by Sober Grid's clients include municipal governments, insurance companies managed care organizations, drug courts, health care providers, hospitals, and treatment clinics in the United States. Ascent employs a staff of state certified addiction recovery coaches to provide on demand and scheduled sessions. Coaches are staffed 24/7/365. Coaches can be accessed via scheduled meetings or on -demand as crisis management. Available anytime, anywhere the low cost support democratizes addiction support while eliminating traditional barriers to accessing support such as access to transportation, rural settings, fear of stigma, and scheduling conflicts. All coaches are trained and certified by a state government in both addiction and mental health. Coaches adhere to the critical philosophy of multiple pathways of recovery. Coaches all have lived experience and have related real life experience and have successfully stayed in remission from acute symptoms of relapsing for a number of years.

SironRX Therapeutics

Series A in 2011
SironRX is developing novel therapies exclusively licensed from Juventas Therapeutics and Cleveland Clinic that promote dermal wound repair and reduce scarring. Our lead product is a clinically tested biopharmaceutical that encodes Stromal cell-Derived Factor-1 (SDF-1). SDF-1 is key molecule responsible for activating natural repair processes after tissue injury through prevention of cell death and recruitment of stem cells to the damaged organ. Studies from several laboratories suggest the therapeutic potential of SDF-1 for treatment of a range of wounds such as post-surgical incisions, chronic diabetic ulcers and burns. Development of a cost-effective interactive wound therapy that can be topically administered at the site-of-injury or in chronic wound care settings with the potential to significantly improve function of the damaged tissue will have a major impact on the multi-billion dollar advanced wound management market.

SironRX Therapeutics

Venture Round in 2011
SironRX is developing novel therapies exclusively licensed from Juventas Therapeutics and Cleveland Clinic that promote dermal wound repair and reduce scarring. Our lead product is a clinically tested biopharmaceutical that encodes Stromal cell-Derived Factor-1 (SDF-1). SDF-1 is key molecule responsible for activating natural repair processes after tissue injury through prevention of cell death and recruitment of stem cells to the damaged organ. Studies from several laboratories suggest the therapeutic potential of SDF-1 for treatment of a range of wounds such as post-surgical incisions, chronic diabetic ulcers and burns. Development of a cost-effective interactive wound therapy that can be topically administered at the site-of-injury or in chronic wound care settings with the potential to significantly improve function of the damaged tissue will have a major impact on the multi-billion dollar advanced wound management market.

Explorys

Series B in 2010
Explorys, Inc. is a healthcare cloud-computing platform based in Cleveland, Ohio, established in 2009. The company specializes in enterprise performance management for integrated healthcare systems in the United States, offering solutions for data management, business intelligence, and population analytics. Its platform allows healthcare systems to collect and integrate diverse data types, including clinical, claims, and billing information, facilitating improved quality of care and operational efficiency. By serving providers, payers, and life sciences organizations, Explorys aims to enhance treatment outcomes and accelerate research and product development. The company's services are delivered through software-as-a-service and platform-as-a-service models, supporting critical measurement for healthcare reform and performance management. As of 2015, Explorys operates as a subsidiary of International Business Machines Corporation.

Complient Corporation

Venture Round in 2000
Complient Corporation, based in Cleveland, is the nation's premier provider of AED programs and actively manages hundreds of corporate and government AED programs representing more than 3,000 AED devices. Complient trains lay people to save lives and prepares them to respond to commonplace medical emergencies. To date, over 250,000 individuals have been trained on AED operation and CPR by its 150 dedicated full- and part-time trainers on staff covering all 50 states in the United States. Since its inception in 1997, over $50 million in equity venture capital has been invested to develop Complient's web-based technology infrastructure and AED program management service business. For more information, visit www.complient.com.
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