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New medical research company launches

Thursday, September 20 11:47:07

i360medical, a new healthcare solutions and medical device innovation company was launched in Dublin today.

The company, which taps into Ireland's growing medical device expertise, has joined with some of the world leaders in healthcare innovation to help generate and commercialise new world-class healthcare technology solutions.

i360medical is a spin-out company from the Royal College of Surgeons in Ireland where it was formerly known as The Centre for Innovation in Surgical Technology (RCSI-CIST).

The company is positioned to provide new 'start up' deal flow to multinational's and SMEs which will help safeguard existing jobs and create new jobs in the industry in Ireland.

The principal behind i360medical is to act as an international and national innovation enabler and hub that has all the expertise necessary to take new healthcare ideas and medical technologies to market.

Uniquely, the company will act as a conduit between traditionally separate sectors, the healthcare, the clinical, the academic and the business sectors, to develop and commercialise new ideas and solutions. i360medical has identified and partnered with a number of global healthcare innovation leaders and is making their expertise available in Ireland. Representatives from Cleveland Clinic Innovations, which was recently named as the fourth most influential healthcare corporate venturing unit in the world, Kernel Capital, one of Ireland's largest and most active venture capital funds and Synecor, a US based medical technology development company, have committed to working with i360medical and its range of Irish partners.

Speaking at the launch, Richard Bruton TD, Minister for Jobs, Enterprise and Innovation said: "A core aim of the Government's Action Plan for Jobs is to significantly grow and expand our Health and Lifescience sector. To this end we need to implement changes to assist the commercialisation of innovative ideas that will lead to quality jobs for this economy, and we are following through on this with for example the establishment of a Healthcare Innovation Hub to bring companies and the healthcare system together to develop new products which can create jobs. Today's announcement by i360medical shows what is possible in this area, and I am determined through continued implementation of the Government's plan to see more companies like this establishing expanding and creating the jobs we need".

Speaking at the launch, founder and CEO of i360medical, Derek Young, said that "Ireland has a unique opportunity to become the global heart for the design and innovation of medical technologies. i360medical aims to provide the right environment to allow clinicians, healthcare professionals , engineers and researchers to identify unmet needs and develop relevant new technology solutions. We have devised a model that will support the development of new medical device and healthcare solutions from their conception to their commercialisation."