Excell Partners and the University of Rochester’s Center for Health + Technology have joined forces to streamline and accelerate the development of life science startups.
CHeT conducts, plans, manages and implements large multi-center clinical research studies. The center’s technologies and outcome measures have played a role in conduct of research and in the evaluation of new therapies, officials say.
A UR affiliate, Excell invests in high-tech, high-growth startups in Upstate New York. Its portfolio includes investments in the medical field.
“We are excited to bring such high-caliber expertise to our startups. CHeT and Excell is a unique collaboration and one that we are confident will result in better outcomes for the life science startups in our region” says Excell CEO Theresa Mazzullo.
The collaboration is expected to provide direct access to capital and clinical insights and validation. Typically, these are two critical elements of growth for a medical technology business.
Through better communication and coordination, CHeT and Excell will help startup companies navigate the process of clinical trials from study design through data analysis, publication, and FDA approval, officials say.
CHeT and Excell hope to increase the chances of obtaining FDA approval–an arduous process for most firms. It is estimated that 90 percent of drug candidates, across various phases of clinical trials, do not win approval. A study suggests that the reasons for failure can range from clinical efficacy, toxicity, and side effects to a lack of commercial interest and poor strategic planning.
“Excell has a reputation and track record for attracting high-potential startups to our region. We are pleased to have this opportunity to work with these exciting new technology companies,” says CHeT director Chad Heatwole. “We too are excited to see what we can achieve together.”
Smriti Jacob is Rochester Beacon managing editor. The Beacon welcomes comments and letters from readers who adhere to our comment policy including use of their full, real name. Submissions to the Letters page should be sent to [email protected].