OSU, Ohio’s Third Frontier and Cardinal Health Announce Joint Venture in Advanced Molecular Imaging Research and Commercialization Effort - 1-May-09: Newsletter Newsletter

OSU, Ohio’s Third Frontier and Cardinal Health Announce Joint Venture in Advanced Molecular Imaging Research and Commercialization Effort - 1-May-09: Newsletter Newsletter

OSU, Ohio’s Third Frontier and Cardinal Health Announce Joint Venture in Advanced Molecular Imaging Research and Commercialization Effort

More than $10M Will Be Invested to Launch the Molecular Imaging Technology Center

Ohio State University, the Ohio Third Frontier program and Dublin-based Cardinal Health have announced they will invest more than $10 million in a collaboration that will marry OSU’s research capabilities in molecular imagining with Cardinal Health’s manufacturing and commercialization expertise. The collaboration will result in the Molecular Imaging Technology Center which will house OSU researchers as well as Cardinal Health’s manufacturing and nuclear pharmacy operations. The center will be an expansion of OSU’s Wright Center of Innovation in Biomedical Imaging.

Molecular imaging is the process of injecting specialized pharmaceuticals, known as imaging agents, into the body; these are then visible through the use of advanced imaging equipment. It is one of the fastest growing areas of biotechnology and is expected to continue to grow exponentially because of its benefits in early stage diagnostics for diseases as wide ranging as multiple sclerosis, strokes and cancer. Such diagnosis at the earliest stages possible – sometimes even before symptoms occur – can save lives and help dramatically reduce the overall costs of healthcare.

According to Lt. Governor Lee Fisher, the new center is expected to create up to a dozen highly skilled jobs, attract renowned researchers to Ohio and bring additional investments from the pharmaceutical industry to the state.

Through the partnership with Cardinal Health, OSU researchers will benefit from unique manufacturing capabilities and commercialization expertise.

Cardinal Health will also support manufacturing and dispensing of new agents for clinical trials through its national network of radiopharmaceutical facilities.

“Never before has the University’s role in generating long-term economic growth been more evident,” said OSU President E. Gordon Gee.

According to Fisher, the Wright Center of Innovation in Biomedical Imaging has created some 280 jobs, attracted or launched nine companies and generated a 10- to-1 return on the state’s investment.

For more information, see the releases from Cardinal Health and OSU:

http://www.cardinal.com/content/news/4292009_6520.asp

http://www.osu.edu/news/newsitem2405

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