UMass medical device center gets $7.9M grant
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The Massachusetts Medical Device Development Center, which the UMass Medical School runs in a partnership with UMass Lowell, is based at Lowell's Wannalancit mill complex, where it will establish a new incubator space by the end of the year.
The Massachusetts Medical Device Development Center, which the UMass Medical School runs in a partnership with UMass Lowell, will establish a new center to help those working on new technologies to fight heart, lung, blood and sleep disorders.
The medical device and biotech business incubator M2D2's new initiative will be established thanks to a $7.9-million National Institutes of Health grant.
The space, called the Center for Advancing Point-of-Care Technologies, is expected to open in Lowell by the end of the year. It will bring entrepreneurs together with scientists, business developers, legal experts and other resources, UMass said in announcing the funding on Friday.
The new center is aimed at a major component of health in the United States. Heart, lung, blood diseases combine for 41 percent of deaths in the U.S. and lead to more than $400 billion in healthcare expenses and lost income, according to the National Heart, Lung and Blood Institute.
Innovations possibly developed at the new center, according to UMass, include portable devices and sensors measuring the amount of medication in a patient’s blood, products using smart devices to record heart or respiratory rates, or technologies alerting patients to health changes such as worsening asthma.
M2D2's support of medical device startups in the state has contributed $42 million in direct economic impact, according to a 2015 report conducted by the UMass Donahue Institute.
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