The media in Ireland is full of stories about a new deal just announced that will bring the prestige of the Minnesota-based Mayo Clinic to the Irish medical research and technology industry.
The Dublin-based Independent reported the agreement launched Thursday will bring early stage medical devices and treatments invented at the Rochester clinic to Irish universities, where they will be developed into 'market ready' products.
The Irish Times reports that such research is more complicated and expensive to perform in the US, due to regulations. Mayo has teamed up with Enterprise Ireland to "co-develop and commercialize 20 new medical technologies." (The Enterprise Ireland website explains that it is "the Government agency in Ireland responsible for supporting Irish businesses in the manufacturing and internationally traded services.") The Irish government will provide $16 million through an Enterprise Ireland fund.
“This collaboration with Enterprise Ireland provides a unique way of furthering the research and development of novel technologies that have high potential to make a different in patient care, alleviating the burdens of human disease,” said Mayo Clinic vice president Jeff Bolton. “We expect that this collaboration will pay dividends in the US as the commercialized technologies will be sold in the US for the benefit of patients.”
RTE News said the five-year plan calls for setting up 10 new spin-out companies that will create dozens of jobs. The first project, a device for treating acute pancreatitis, is already being developed at a university in Galway.
Business & Leadership noted that Irish connections with Mayo Clinic extended back to the 19th century, when founders and brothers Will and Charlie Mayo attended the Royal College of Surgeons of Ireland.