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Massachusetts Institute of Technology Joins Boston Biomedical Innovation Center to Further Research Translation and Commercialize Medical Technologies

B-BIC’s expanding network signals the importance of forming strategic alliances to accelerate the commercialization of biomedical technologies to improve healthcare.

June, 2016 – The Boston Biomedical Innovation Center (B-BIC), a National Center for Accelerated Innovation designed to accelerate commercialization of biomedical technologies, today announced that MIT joined B-BIC as an Associate Core Member. MIT investigators and their research teams will add capabilities and have access to all resources offered by B-BIC – non-dilutive funding, coaching, project management, entrepreneurial skill development, and access to venture capital and B-BIC’s Federal partners.

“We are very pleased to welcome the MIT as a member of B-BIC because it will expand and strengthen what we offer through the Center. MIT’s prototyping expertise is state-of-the-art, and will significantly enhance our capabilities in this area”, said Joseph Loscalzo, MD, PhD, Chair, Department of Medicine at Brigham and Women’s Hospital, and Program Director of B-BIC. “MIT’s participation expands the range of potential technologies that can be brought forward to benefit patients and will help to increase the public return on investment in medical research.”

Elazer Edelman, MD, PhD, Professor of Health Sciences and Technology at MIT and core faculty at the MIT Institute for Medical Engineering and Science, and Professor of Medicine at Harvard Medical School, said of this new alliance, “MIT and B-BIC share the common goal of translating novel healthcare technologies into clinical practice, and we are very excited to join the B-BIC community. The synergies between our two organizations will strengthen our collective ability to introduce innovations that improve health and patient care.” As Chief Scientific Advisor of Science: Translational Medicine, Dr. Edelman has set the tone for the national debate on translational research and innovation.

“B-BIC’s expanding network signals the importance of forming partnerships in efforts to commercialize biomedical technologies and improve healthcare” according to Roger Kitterman, Executive Director, and Founder of the Partners Innovation Fund.  “This accelerator now operates throughout nearly all of the major medical research institutions in Boston and will be successful because of the breadth of its network” said Mr. Kitterman.  MIT and B-BIC investigators will actively identify technologies at suitable technology readiness levels, share best practices, and bring technologies forward for commercial development.

Contact:  Lesley Watts, Director, Administration and Finance, 857-307-2440 | lwatts@partners.org