Rep. Clyde Announces $50K State Investment In NEOMED Gene Therapy Project
Third Frontier funds encourage collaboration between school and local start-ups
February 08, 2016
[ Kathleen Clyde Home | Kathleen Clyde Press ]

State Rep. Kathleen Clyde (D-Kent) today announced the release of $50,000 in Third Frontier funds to Northeast Ohio Medical University (NEOMED) for its gene therapy project.

“Third Frontier brings entrepreneurs and leading researchers together, allowing ideas to drive innovation,” said Clyde. “By supporting these projects, local start-ups will be better equipped to develop new technologies, create jobs and change lives.”

The Ohio Third Frontier, a program approved overwhelmingly by Ohio voters multiple times, assists Ohio universities and research institutions in commercializing and transferring technologies to Ohio start-up companies. Third Frontier funds support the validation of unlicensed technologies at Ohio universities and not-for-profit research organizations, while also providing initial seed funding to Ohio start-ups that license a technology.

Funding will be used at NEOMED to further the development of a gene therapy kit that will have the ability to target specific cells, thereby dramatically improving treatment of various diseases, including a number of different cancers.

NEOMED will provide $50,000 to match state funds.

Rep. Clyde represents the 75th Ohio House District, serving Kent, Ravenna, Streetsboro, and Central and Southern Portage County.  

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