Mayo Clinic is an economic engine for its hometown of Rochester, Minnesota. The health care research leader is the city’s largest employer and the largest driver of visitors to the region, with an estimated 1.2 million patients and their families traveling annually to the region to receive care. But Mayo Clinic’s economic reach extends beyond these direct impacts, sparking the development of businesses in multiple industries.
Mayo Clinic has spun out a number of health-related businesses. More than 170 startups have used intellectual property developed at Mayo Clinic, and more than 2,000 technologies are available for licensing, according to Mayo Clinic Ventures, the organization that manages this commercialization.
U.S. Senator Tina Smith recently stopped in Rochester to tour One Discovery Square, the healthcare innovation campus that opened in 2019.
Senator Smith served as Chair of the Destination Medical Center Corporation Board (DMCC) when it approved the construction of One Discovery Square in 2017, and she participated in the building’s groundbreaking later that year.
Mayo Clinic and Boston Scientific Corp. have launched a new venture to accelerate the development of medical technology and new minimally invasive treatments for many health conditions that impede quality and longevity of life.
The accelerator, known as Motion Medical, will have its research facilities in One Discovery Square, the bioscience center in the Discovery Square research district. Both parties have committed millions of dollars over three years to develop and bring new solutions to the market to address unmet medical needs.
“Mayo Clinic is committed to accelerating the pace of discoveries to bring new technologies and treatments to patients faster,” said Gianrico Farrugia, M.D., president and CEO of Mayo Clinic. “This collaboration and others like it will continue to strengthen Rochester and Minnesota as a biomedical innovation and economic powerhouse.”
This venture is another step forward in the collaboration between Mayo Clinic and Boston Scientific Corp., combining Mayo Clinic’s world-class clinical experience and patient care with Boston Scientific’s extraordinary engineering, innovation and business expertise.
“This collaboration between Mayo Clinic and Boston Scientific builds on our experience working together to support the shared goal of advancing patient-centered innovation,” says Mike Mahoney, chairman and CEO, Boston Scientific. “This approach combines the unique strengths of our two organizations, and we look forward to working together to solve complex health care challenges.”
“Mayo Clinic and Boston Scientific’s new accelerator collaboration is another powerful example of DMC’s vision for Discovery Square being realized as an economic engine and a catalyst to attract new talent and innovative companies to Rochester, Minnesota,” said Lisa Clarke, executive director, DMC Economic Development Agency.
Mayo Clinic and Boston Scientific Corp. have collaborated for nearly a decade to develop new devices and technologies in areas such as interventional cardiology, neuromodulation and urology. Together the companies have filed eight patent applications and collaborated on two first-in-human clinical trials.
A generous $32 million gift from the New York-based Anna-Maria and Stephen Kellen Foundation will enable Mayo Clinic to expand its research mission with the construction of a four-story, 64,000-square-foot research building in Rochester.
Planning for the Anna-Maria and Stephen Kellen Building is underway, with groundbreaking expected in 2020 and occupancy in 2022. The building will be located just north of Mayo Clinic’s Opus Building, which is on the corner of Fourth Street Southwest and Fourth Avenue Southwest in Rochester.
“We cannot overstate our gratitude to the Anna-Maria and Stephen Kellen Foundation,” says Gianrico Farrugia, M.D., Mayo Clinic’s president and CEO. “Research is critical to infusing new knowledge into patient care. It paves the way to solve serious or complex medical challenges for our patients at Mayo as well as patients around the world. This remarkable gift will allow us to meet a critical need for research space on our Rochester campus.”
The gift was directed to Mayo Clinic by Michael M. Kellen, foundation president, and Marina Kellen French, vice president. Their parents, Anna-Maria and Stephen Kellen, now deceased, received care at Mayo Clinic for decades, and that trust and care have continued into the next three generations. Stephen M. Kellen was president and CEO of Arnhold and S. Bleichroeder Inc., an international investment firm based in New York, now known as First Eagle Investment Management LLC.
“Our family’s history with Mayo Clinic spans more than four decades, and the physicians and staff at Mayo have become like family to us,” says Marina Kellen French. “We are thrilled to be able to support Mayo and be part of advancing medical research that will help patients for decades to come.”
The Anna-Maria and Stephen Kellen Foundation has been a significant contributor to Mayo Clinic over many years, funding various initiatives and projects in support of Mayo Clinic’s highest priorities. The foundation also has supported the Dr. Richard F. Emslander Professorship at Mayo Clinic College of Medicine and Science in recognition of the care that Richard Emslander, M.D., provided to the family over many years.
“Medical research has always been a strong interest of our family,” says Michael M. Kellen. “We are pleased that this gift will address a high-priority need at Mayo while honoring our parents’ legacy in a visible and meaningful way.”
“The new Anna-Maria and Stephen Kellen Building will bring more Mayo Clinic expertise to DMC’s Discovery Square and complements the unique entrepreneurial environment of the subdistrict,” adds Lisa Clarke, executive director, DMC Economic Development Agency.
Decisions regarding specific use and occupancy of the new building will be made as part of the planning process this year.
If eyes are the window to the world, Timothy W. Olsen, M.D. is building high performance window frames. With a passion for restoring vision, the ophthalmologist set sights on developing and bringing to market a first-of-its-kind device for treating age-related macular degeneration. The synergies around the Destination Medical Center economic initiative and Mayo Clinic’s research and practice community prompted him to move his business and clinical/surgical practice from Atlanta to Rochester, Minnesota.
“The business environment is second to none. Mayo has made a statement through Destination Medical Center that it wants to be an innovation center for medical technology,” says Dr. Olsen. “That combination of business, technology and connection to Medical Alley bio businesses in Minnesota makes this is a really good place to develop and commercialize medical devices.”
Destination Medical Center is a 20-year, multibillion dollar public-private partnership to position Rochester as a global destination for health care, biotechnology and life science discoveries. The money supports public infrastructure and does not go to Mayo Clinic. The convergence of entrepreneurship, medical expertise and regulatory support, Dr. Olsen says, is the perfect place for a successful product launch.
“Destination Medical Center is the City of Rochester, Olmsted County and the state of Minnesota. With those components, hopefully there will be private sector support as well as the opportunity for engaging with people involved in funding early stage start-up companies, including venture capital funding opportunities,” says Dr. Olsen.
A new device for age-related macular degeneration
Macular degeneration affects more than 3 million Americans and is the leading cause of vision loss for people over 50. There is no cure or treatment in the early stages. Patients with end-stage macular degeneration may be suitable for monthly eye injections, but that is expensive and inconvenient. The disease process usually progresses despite the injections.
That’s where Dr. Olsen’s business comes in. His team is advancing research on a surgically implantable device, using a technology that was first conceived at the University of Minnesota and patented through Emory University. That device acts as a window or picture frame holding regenerative tissue in place to support the macula at the back of the eye, potentially reversing vision loss and preserving the function of the macula.
The National Institutes of Health/National Eye Institute awarded a Small Business Technology Transfer grant for a one year, phase one feasibility study. The grant goes directly to Dr. Olsen’s company, located in the Mayo Clinic Business Accelerator, with sub grant funding for pre-clinical research at Mayo.
“The goal of this research grant is to support scientists launching commercialization of a product rather than the researcher studying technology from an outside company, in an effort to speed the movement of a product from the research lab into the marketplace,” says Dr. Olsen.
Mayo Clinic has announced plans to collaborate with Singapore-based real estate developer Pontiac Land Group to expand the clinic’s Gonda Building. The collaboration will advance Mayo Clinic’s expansion plans by nearly a decade. The 11-floor vertical expansion will include four floors dedicated to new clinical space and seven floors that will house a premier hotel.
“The expansion of the Gonda Building on Mayo Clinic’s downtown Rochester campus to accommodate new clinical space and a new hotel are wonderful additions to Destination Medical Center’s Heart of the City,” says Destination Medical Center Economic Development Agency Executive Director Lisa Clarke. “This unique collaboration – and Pontiac Land Group investing here – also continues to prove that Rochester is an attractive market for investors and developers from around the globe.”
While details are still being finalized, preliminary plans indicate construction will begin in late 2019 or early 2020.
Click here to learn more about this exciting new downtown Rochester, Minnesota development.
ROCHESTER, Minn. — The Mayo Clinic Board of Trustees announced on Friday, Aug. 10, that it has elected Gianrico Farrugia, M.D., (JAN-ree-koh fa-ROO-jah), vice president, Mayo Clinic, and CEO of Mayo Clinic in Florida to succeed John Noseworthy, M.D., as president and CEO, Mayo Clinic. Dr. Noseworthy remains president and CEO, Mayo Clinic, through his retirement at the end of the year. Drs. Noseworthy and Farrugia will work closely together through this period of transition…
Mayo Clinic has been identifying and addressing community health issues, such as mental health, immunizations, and obesity, for decades. This year, they’re asking you to get involved.
The Mayo Clinic Shared Value Award was created in 2016 to help solve some of the unique community health needs of Rochester and Olmsted County as well as to encourage collaboration among local groups. Up to $50,000 is given annually to a partnership of three or more organizations who are working together to improve health and vibrancy in Olmsted County. In past years, award winners were chosen solely by Mayo Clinic, but this year’s award will be chosen as part of a community-wide vote.
On September 26-27, 2018, Rochester, Minnesota will again lead the way as the epicenter for health care innovation, as Mayo Clinic’s Transform 2018 comes to the Mayo Civic Center.
For more than a decade, Transform has been the preeminent health care conference for people to proactively confront critical issues, share meaningful insights, and accelerate health innovation.
This year, Transform will feature industry experts to explore pivotal opportunities in the key areas of augmented human intelligence, making innovation possible within organizations, and how to help people live their best lives.
Did you know that your entire DNA – or genome – is the same as 99.9 percent of the people around you? It’s that 0.1 percent difference that makes you unique.
Learn more about the human genome at the Rochester Art Center when “Genome: Unlocking Life’s Code” opens on June 23 in Rochester, Minnesota. This unique exhibit originally debuted in 2013 at the Smithsonian Institution National Museum of Natural History in Washington D.C. Since then, it has taken up residence in cities throughout the country as a traveling exhibit.