Two Minnesota medical giants are working together on a new medical-technology accelerator that will support new minimally-invasive treatments for a range of health conditions.
Mayo Clinic and Boston Scientific announced Monday that they would work together on the new venture, called Motion Medical. The accelerator will be based in Mayo's headquarters campus in Rochester. It will be located in One Discovery Square, the life-sciences research building that is a key part of Rochester's multibillion-dollar Destination Medical Center Project.
"Mayo Clinic is committed to accelerating the pace of discoveries to bring new technologies and treatments to patients faster," Mayo Clinic President and CEO Gianrico Farrugia said in a statement. "This collaboration and others like it will continue to strengthen Rochester and Minnesota as a biomedical innovation and economic powerhouse."
Mayo Clinic and Boston Scientific have collaborated on a handful of projects over the last decade. The two companies share eight patent applications and two first-in-human clinical trials.
In 2018, they also partnered with Midwest startup accelerator gener8tor and the University of Minnesota to launch gBETA Medtech, an accelerator for early-stage med-tech companies.
Neither Boston Scientific nor Mayo Clinic specified how much money they were investing in the accelerator, but stated that each had "committed millions of dollars" over three years to the project.
