NEW YORK and OR YEHUDA, Israel, Sept. 27, 2023 /PRNewswire/ -- Weill Cornell Medicine Enterprise Innovation and MEDX Xelerator have signed a venture creation agreement. The goal of the agreement, which is part of the MEDX Xelerator Xplore program, is to support medical innovation by clinicians addressing large unmet clinical needs identified during the course of their daily work.
Dr. Lisa Placanica, Senior Managing Director, Center for Technology Licensing at Weill Cornell Medicine said, "Physicians at Weill Cornell will have an opportunity to explore proposed medical technology solutions that address unmet clinical needs with the MEDX Xelerator Innovation Lab. We look forward to connecting our innovations with MEDX's cross-disciplinary team. Weill Cornell Medicine, in cooperation with the incubator, will jointly commercialize the selected solutions."
MEDX Xelerator CEO Shai Policker said, "This is our first Xplore cooperation agreement with a medical center based in the United States following similar collaborations in Israel. This multidisciplinary approach to innovation is extremely important in the medical field. It combines the ideas and expertise of engineers with the deep clinical know-how of physicians to create new solutions."
The newly created companies will receive an initial investment of up to $1M from MEDX Xelerator, mainly funded by the Israeli Innovation Authority, and the ongoing support from the Center for Technology Licensing at Cornell University.
Areas of interest include cardio-vascular, urology, minimally invasive procedures, interventional oncology, neuro-vascular applications, medical robotics, women's health, and digital solutions for disease management and remote therapy.
About MEDX Xelerator
MEDX Xelerator is a leading medical device and digital health-focused investor and incubator operating under the auspices of the Israel Innovation Authority. Current partners and collaborators include Boston Scientific, Sheba Medical Center, West Pharmaceuticals and other investors. In cooperation with its partners and collaborators, MEDX Xelerator identifies and nurtures high impact medical ventures that fill major, unmet clinical needs with big markets, to benefit patients, physicians and investors alike. The incubator's team works closely with the portfolio companies to consistently achieve outstanding clinical and business milestones in a capital efficient way.
For more information, please visit https://www.medxelerator.com/.
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