Lubrizol, Cleveland Clinic ink collaboration to advance medical innovation
Thursday, February 5, 2015
Lubrizol and Cleveland Clinic announce that as part of a new joint collaboration, Lubrizol LifeSciences and Cleveland Clinic Innovations are aiming to identify—and ultimately speed the development of—new, groundbreaking products for the medical device and pharmaceutical industries.
Lubrizol, a Berkshire Hathaway company, is a technology-driven global company with headquarters in Wickliffe, Ohio. Cleveland Clinic Innovations is responsible for company creation, business development and commercialization of all medical technology throughout Cleveland Clinic and its Global Healthcare Innovations Alliance partners.
The combination of Lubrizol’s manufacturing capabilities and Cleveland Clinic’s clinical experience sets the groundwork to discover and develop new, meaningful medical innovations that meet the needs of patients and providers. The joint collaboration will connect the chemists and engineers who create the materials with the clinicians who identify unmet clinical needs and seek solutions.
This collaboration will speed up product development and provide both parties with the opportunity to connect complementary perspectives. In addition, Lubrizol will have more opportunities to interact with medical professionals to understand how their products impact the lives of patients, ultimately creating better overall outcomes. Cleveland Clinic will have increased access to polymer scientists, material testing and new component designs.
Lubrizol LifeSciences will provide Cleveland Clinic an in-depth understanding of functional polymer solutions, including components, novel device systems and drug-delivery combination products for the healthcare industry. Lubrizol’s recent acquisition of Vesta, a contract manufacturer for the global medical device industry, enhances the collaboration with experience in precision thermoplastic extrusion and comprehensive capabilities in silicone fabrication. This combination of material chemists, manufacturing engineers and clinical professionals provides an opportunity that can foster rapid new product development.
Cleveland Clinic Innovations—in addition to providing access to world class physicians and researchers at Cleveland Clinic and the partners in The Global Healthcare Innovations Alliance—will provide its experience in evaluating, validating and commercializing medical technologies.
Inventors fuel Cleveland Clinic Innovations intellectual pipeline with ideas in the areas of medical devices, therapeutics/diagnostics, healthcare information technology and business delivery solutions. Through an established process, Cleveland Clinic Innovations rapidly evaluates technologies with a focus on ensuring clinical validity and market potential.