The North Shore-LIJ Health System and i360medical have announced an international agreement to benefit patients through a collaboration aimed at commercializing new healthcare solutions and medical device innovations.
Based in Dublin, i360medical has expertise in developing medical devices and bringing them to the global market. Representatives from i360medical will be based at North Shore LIJ’s Feinstein Institute for Medical Research, headquartered in Manhasset, NY. Together with i360medical personnel in Ireland and consultants around the globe, i360medical will bridge North Shore-LIJ’s ideas and technologies with engineering, development, industry and commercialization specialists.
i360medical will provide scientists at the Feinstein Institute and clinicians elsewhere across the North Shore-LIJ Health System with support services that stimulate the advancement of medical devices and prioritize technologies for further commercial development. i360medical engineering staff will then assist in moving promising ideas to market, including prototype design and development, project management, clinical trials and regulatory approval for the devices.
Activities will begin immediately, with the goal of transitioning five devices into clinical, technical and market assessments by 2015. Current North Shore-LIJ Health System technologies under review by i360medical include a smart catheter for traumatic brain injury, a solid-state blood-flow sensor, a neural tourniquet device to dampen injury/disease-induced blood loss and a tendon fixation device.
While the Feinstein Institute and the health system have commercialized multiple healthcare technologies through licensing and start-up ventures, these innovations have typically focused on molecular diagnostics and therapeutics.
North Shore-LIJ established a formal Healthcare Innovation Alliance with Cleveland Clinic Innovations in 2012 to engage the health system around innovation. i360medical is also a member of the Healthcare Innovation Alliance, and this expanded collaboration will complement existing efforts with an increased emphasis on medical devices.
Since devices and hardware utilize a streamlined regulatory approval process, their clinical benefits can reach patients in need much more rapidly, both within the North Shore-LIJ service area and around the world.
i360medical CEO Derek Young noted that the company is proud to be working with North Shore-LIJ.
"This is an extremely important partnership for both our company and for Ireland," Young added.