The Ohio State University, Cardinal Health, State of Ohio to invest $10 million to advance medical imaging industry
New Molecular Imaging Technology Center aims to develop new radiopharmaceuticals
COLUMBUS, Ohio. — The Ohio State University, Cardinal Health and Ohio Third Frontier today announced a new collaboration that will invest more than $10 million to help shape the future of the medical diagnostic industry by combining Ohio State’s Wright Center of Innovation in Biomedical Imaging research capabilities and Cardinal Health’s manufacturing and commercialization expertise for molecular imaging agents.
Molecular imaging is one of the fastest growing areas in biotechnology, where specialized pharmaceuticals or “imaging agents” are injected into the body and seek out particular cellular functions that are indicative of a specific disease process such as multiple sclerosis, strokes and cancer. These imaging agents are visible using sophisticated imaging equipment, resulting in the ability to diagnose disease at the earliest stages of onset, even before a patient exhibits symptoms or complications.
The partnership will expand the molecular imaging research program at OSU’s Wright Center of Innovation in Biomedical Imaging to include a new Molecular Imaging Technology Center. The center will house Ohio State’s researchers, as well as Cardinal Health’s radiopharmaceutical manufacturing facility and nuclear pharmacy operations. In addition, a distinguished faculty position in radiopharmaceutical chemistry – along with other researchers – will be added to Ohio State’s department of radiology.
“While we expect to immediately create up to a dozen highly-skilled jobs with this exciting new partnership, the true value is collaborating with Ohio State and Cardinal Health to attract the best and brightest researchers to Ohio and continue to diversify our state’s economy,” said Lieutenant Governor Lee Fisher. “The new center is expected to bring additional investment from the pharmaceutical industry, which can leverage the research and commercialization expertise offered by this partnership for new radiopharmaceutical development projects.”
The new Molecular Imaging Technology Center will provide Ohio State researchers with unique manufacturing capabilities and expertise to aid in their development of new molecular imaging agents in Positron Emission Tomography, also known as PET imaging. As new agents move through the development pipeline, Cardinal Health will also support manufacturing and dispensing for clinical trials across its national network of radiopharmaceutical facilities.
“Never before has the University’s role in generating long-term economic growth been more evident,” said E. Gordon Gee, president of the University. “The Wright Center of Innovation in Biomedical Imaging is an excellent example, creating some 280 jobs, attracting or launching nine companies and generating a 10-to-1 return on the state’s investment. Through this partnership among our faculty and clinicians, the State of Ohio and Cardinal Health, we are improving patients’ lives and enriching our communities.”
John Rademacher, president of Cardinal Health’s Nuclear Pharmacy business said, “Researchers and industry alike will be attracted to the Molecular Imaging Technology Center as a one-stop shop for research, development, clinical investigational trials and full commercialization of new molecular imaging agents. By diagnosing disease at its earliest stages, these new imaging agents can also save lives and help reduce the overall cost of health care because outcomes and treatment costs are optimized when early intervention is possible.”
About the Ohio Third Frontier Program
Ohio Third Frontier, administered through the Ohio Department of Development, is committed to expanding Ohio’s technological strengths and promoting the commercialization that leads to economic prosperity throughout Ohio. Designed to build world-class research programs, nurture early stage companies, and foster the technology development that make existing industries more productive, Ohio Third Frontier creates opportunity through innovation. Through the Ohio Third Frontier, additional federal and private sector support can boost the total investment to more than $6 billion.
About the OSU Wright Center of Innovation in Biomedical Imaging
Established with Ohio Third Frontier funding in 2003, the center aspires to make Ohio a world leader in biological, biomedical, and healthcare related imaging technology and services for human as well as veterinary applications. This initiative has a potential multi-billion dollar impact, creating thousands of high-tech jobs for Ohio’s citizens. To date, the Center deploys an array of imaging technologies, including an ultra high field MRI system and new, powerful PET systems to help physicians better understand disease processes and treatment. Key partners include Philips Medical Systems in Cleveland, Nationwide Children’s Hospital and several Ohio State academic departments.
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