The goal of creating a bio-business industry cluster feeding off Mayo Clinic research as part of Rochester’s ambitious Destination Medical Center effort came into sharper focus last week with the official announcement that Mayo will expand its research facilities in the city by more than 2 million square feet over the next 20 years.
And TCB has learned it’s possible, perhaps likely, that among the first new beneficiaries of the build-out will be three of Mayo’s hottest research operations in fields that are quickly gaining traction among companies and investors: its “transformational centers” of genomics/individualized medicine, regenerative medicine and healthcare economics.
Tag: Discovery Square
A major milestone for Discovery Square: Think outside the box
Mayo Clinic has officially launched its plan for Destination Medical Center’s Discovery Square, an urban bioscience campus in Rochester where doctors, researchers, and scientists will come together to accelerate new advancements in medical research, technology, and patient care.
Mayo Clinic’s announcement that it is on the hunt for a strategic real estate development firm to build out Discovery Square is a major milestone for the Destination Medical Center’s (DMC) plan to enhance Rochester’s reputation as the world’s premier destination for health and wellness, and to create a robust entrepreneurial and innovation ecosystem that encourages start-up companies.
Discovery Square is here! Tune in tonight to learn more
The Destination Medical Center staff has set up shop in San Francisco this week at the 2016 BIO International Convention.
The annual gathering brings together innovative minds from all over the world, and with DMC’s focus on helping to grow bio-business in Minnesota, the conference is a perfect opportunity to spread the word about Rochester. It’s also the perfect place to highlight the exciting things happening in Discovery Square, the DMC sub-district slated to become an urban bio-research campus in downtown Rochester.
To learn about another exciting announcement related to DMC’s Discovery Square, tune into Mayo Clinic’s Facebook Live feed at 8:45 PM CST tonight!
Q&A with Emily Benner, VP at Preventice Solutions
A cornerstone of the Destination Medical Center plan is to position Rochester as a leader in the biotechnology and medical technology fields. The development of Discovery Square – a sub-district dedicated to advancing game-changing ideas in patient care – is a critical step in reaching this goal.
The groundwork is already there. Medical innovators have long flocked to Rochester to collaborate with the Mayo Clinic on new technologies that are making health care better and more efficient.
Preventice Solutions is among the companies that saw promise in collaboration early on. Emily Benner, who is Preventice’s Senior Vice President of Research and Development, sat down with DMC to talk about how her company is changing the way doctors care for cardiac patients, and what Discovery Square means for innovators.
Mayo Clinic’s recently awarded grant complements Discovery Square
The Mayo Clinic has been awarded $142 million in funding from the National Institutes of Health to create a research repository of biologic samples to advance precision medicine.
The grant complements the Destination Medical Center’s efforts to position Rochester – and specifically Discovery Square – as an international hub for medical innovation.
“Discovery Square is the economic engine for DMC. It represents the future of biomedicine, research, and technology innovation and is anticipated to be one of the largest drivers of job growth in Rochester,” says Lisa Clarke, executive director of the DMC Economic Development Agency.
DMC Corp. board of directors meeting highlights downtown development
Downtown development received top billing at the most recent meeting of the Destination Medical Center (DMC) Corporation Board of Directors.
Abu Dhabi-based Bloom Properties gave an update on a mixed-use project that will be anchored in the Downtown Waterfront sub-district. The $180-200 million project will include residential, hospitality, and retail space, as well as space for outdoor concerts and ice skating.
Board member and former Minneapolis Mayor R.T. Rybak called the proposal “a home run,” saying it meets a lot of the DMC’s goals for housing, retail, and community spaces.
Destination Medical Center Corporation Board Meeting Highlights Substantial Progress Occurring in DMC District
ROCHESTER, Minn. (May 26, 2016) – At today’s board meeting, the Destination Medical Center (DMC) Corporation Board of Directors highlighted the substantial progress being made on projects in the DMC District. These projects include some of the DMC’s top development priorities: Discovery Square, Heart of the City, and transportation improvements. The Board also heard plans for DMC’s participation in this year’s BIO International Convention, the largest international event for the biotechnology industry.
StarTribune: Med-tech partnership promotes Minnesota as a place to do business
Rochester’s med-tech business community is getting a national boost.
Earlier this week, Greater MSP – an economic development agency in the Twin Cities – announced the Minnesota Medical Manufacturing Partnership, giving medical manufacturers working in Rochester and in Minnesota access to federal agencies that coordinate $1 billion in economic development assistance.
Rochester is in one of 24 regions selected by the federal government as part of a nationwide effort to reignite manufacturing.
Destination Medical Center Executive Director Lisa Clarke said the partnership will help transform Rochester’s med-tech community in the Discovery Square Subdistrict and our region.