Building Off Our Strengths

Leveraging our region's world-class assets to attract and grow new companies is a key strategy of Advance Northeast Ohio and the Cleveland Clinic's new Global Cardiovascular Innovation Center is an example of that strategy at work. The Center announced yesterday it plans to award $6.5 million for heart-related projects. Most of the money goes to companies that are working to develop products for the multi-billion dollar cardiac care industry.

According to a story in the Plain Dealer, the amounts granted include:

• AcelleRx, a Cleveland company developing a heart failure therapy - $1 million.
• Arteriocyte, a Cleveland company commercializing stem-cell therapies and delivery devices - $509,000.
• Athersys, the Cleveland stem-cell therapy and drug company - $200,000.
• PeriTec, a Cleveland company developing vascular stents lined with biological tissue - $200,000.
• PrognostiX, the Cleveland company identifying biomarkers for disease - $500,000.
• ZIN Medical, the Brook Park company developing wireless patient monitoring devices - $100,000.

If the Center is successful in its mission then Northeast Ohio won't only be home to the world's best heart care, it'll also be home to many successful cardiac care companies. That will help keep the beat of the region's economy very strong.