Ohio State University Seeks Funding for Neuroscience Technology Center

Ohio State University (OSU) is seeking $21 million to close the funding gap on a new neuroscience center intended to develop neurotechnology for commercialization. The Neurotechnology Innovations Translator (NIT) will cost approximately $63 million, $42 million of which has been provided by a mix of public and private partners including medical device companies Medtronic Inc. and Cardinal Health Inc.

The university is seeking the extra funds Ohio Third Frontier, a technology-based economic development initiative offered by the state’s Office of Technology Investments. According to the office website, “the $2.3 billion initiative supports existing industries that are transforming themselves with new, globally competitive products and fostering the formation and attraction of new companies in emerging industry sectors.”

A letter of intent filed with the Ohio Development Services Agency notes how the NIT will benefit the state’s economy: “By enabling an ecosystem of neurotechnology expertise, the translational approach of the NIT and its global reach will create, attract and retain numerous new durable, high-growth companies and innovative neurotechnologies in Ohio.” Contributions to the economy will include high-salaried technology jobs; direct job creation; and private sector capital investment, according to the letter.

The letter also states that there are multiple projects already in the pipeline for NIT.

According to the letter, neurological disorders affect over 1 billion individuals worldwide and impact virtually every clinical condition. Each year, approximately 6.8 million people in the United States die as a result of neurological disorders. And, with nearly 20 percent of the U.S. population projected to be over the age of 65 by 2030, the incidence of neurological disorders will only continue to increase with the aging population. The global market for neurotechnology surpassed $5.8 billion in 2012, with estimates projecting the market to experience accelerating growth to $11.4 billion by 2016.

At $3.3 billion in 2012, neuromodulation is the largest segment within neurotechnology, and according to OSU is a “particular area of strength for NIT.” There are currently many U.S. Food and Drug Administration-approved neuromodulation devices and implants for the treatment of diseases such as Parkinson’s disease, epilepsy, obsessive compulsive disorder, tremor, dystonia, urinary incontinence, and chronic pain. But neuromodulation—the use of technology to inhibit, activate, regulate, or normalize the function of the nervous system—still has a wide scope for innovation, scientists at OSU predict: “There remains tremendous near-term potential for neuromodulation innovations to help millions of additional patients with both improvements to existing approved applications, as well as pioneering new therapies across areas as diverse as depression, addiction, autism, traumatic brain injury, stroke, Alzheimer’s disease, post-traumatic stress disorder, hypertension, diabetes, pulmonary disease, gastrointestinal and genitourinary conditions.”

Besides Medtronic and Cardinal Health, other partners in the project include Battelle, the U.S. Air Force, Summa Western Reserve Hospital and Wright State University.