Why do business with Mayo Clinic Ventures
Some of the medical advancements most widely used throughout the world have been developed at Mayo Clinic. Nearly every MRI machine contains Mayo Clinic technology. Mayo Clinic holds the patent for the assay-of-choice to diagnose vitamin D deficiency and monitor treatment results. Mayo Clinic was awarded a Nobel Prize for discoveries that led to the isolation and first use of cortisone.
For 150 years, Mayo Clinic has produced meaningful and measurable changes in providing top-tier, best practices in medicine. We are the largest private, integrated group practice of medicine in the world, with more than 6,200 physicians, scientists, residents, fellows and students in every medical specialty. We improve medical science, solve medical problems and provide whole-person care to patients worldwide. We have all the collective wisdom of Mayo to solve complex problems and advance medical science. We want to share Mayo Clinic resources and technology to benefit patients and medicine.
Innovation has no end
Mayo Clinic recognizes that innovation has no inherent barriers, but rather, is an endless endeavor. That premise was one of the hallmarks behind the creation of Mayo Clinic Ventures, which is the doorway to Mayo Clinic’s intellectual assets. Today, Mayo Clinic Ventures is a mission-driven, global leader in research and technology commercialization, known for its rigorous approach to bringing inventions to the market. It is not a traditional tech transfer office — distinct in that it not only licenses Mayo Clinic’s intellectual property but also forms product development collaborations, actively mines Mayo Clinic for ideas, teaches entrepreneurism, starts companies, runs a business accelerator and participates in a $100 million venture and growth fund that supports economic development.
From the beginning, we recognized that industry saw value in working with Mayo Clinic experts for mutually beneficial opportunities. To date, the group has received more than 5,900 disclosures, filed 5,500 patents and signed 2,600 licensing agreements. An unprecedented 47% of disclosures are commercialized.
You can make medical history with us. The seeds of innovation that will evolve and advance medicine over the next several decades may already be present at Mayo Clinic today, and available for licensing.
Collaborate with renowned researchers
To work with Mayo Clinic Ventures is to work with some of the most esteemed medical scientists in the world. The finest minds, focused on a responsibility to make medicine better, collaborate across specialties to solve complex research questions. Such a close integration makes it possible to quickly bring proven diagnostics and therapeutics to patients. Through industry collaborations, Mayo Clinic’s innovative technologies are spread worldwide.
Mayo Clinic research personnel are conducting some 8,000 IRB-approved human studies at any given time. Our scientists publish more than 5,500 research and review articles in peer-reviewed journals each year. An annual research budget of $365 million includes Mayo’s own investments in research, philanthropic support, royalties from technology commercialization and external funding.
These robust research efforts — and the resulting discoveries — come about as a result of Mayo’s integrated medical group practice. Because Mayo Clinic is so large, we have not only specialties and subspecialties, but also sub-subspecialties. We combine this expertise in patient care with medical research. Along with full-time scientists, these leaders in medicine identify research questions — and answers that may not be unraveled anywhere else.
Ripe for disruptive technology
All of Mayo’s clinicians are encouraged to participate in scholarly activity, and Mayo’s practicing physicians are given dedicated research time. Considerable focus is placed on individualized medicine and regenerative medicine, two rapidly growing fields ripe for disruptive technology. However, Leon Clark, chair, research administration, says Mayo Clinic stresses research across the “full breadth of our practice. In some organizations, you might see research being limited to certain specialties.”
Mayo Clinic starts with the need first and works its way backward. So the probability of coming up with something that is translatable to the real world is higher simply because Mayo Clinic uses research and education as the scientific underpinning for improvements in patient care. “We have a disciplined, systematic approach for taking discoveries and translating them into clinical practice, whether it’s a new device, drug treatment, therapy, health informatics or even health information,” says Clark.
Good for patients, good for the marketplace
All this means a greater likelihood that Mayo Clinic discoveries will address actual patient needs, which will enhance a discovery’s commercial appeal.
For example, Mayo will create a new device or technology that makes it easier to do a specific surgery. If that benefits our patients, there is likely a market for it. There is a discipline at Mayo Clinic for moving a discovery not just into practice, but also into the marketplace. Because we have an expectation that discoveries and research will be relevant to patient care, we bring forward significant opportunities for commercialization.
Mayo Clinic strives to get the discoveries into the marketplace so they can benefit patients all over the world. It’s not science for science’s sake — it is science for the patients’ sake.
Mayo Clinic Ventures’ mission
We serve Mayo Clinic’s moral responsibility to medicine by finding partners that can bring Mayo’s inventions to the marketplace, where they can be used to improve medicine everywhere.
Our mission is straightforward: To collaborate and partner internally and externally to commercialize innovative technologies for the benefit of patients worldwide and generate revenue to support Mayo Clinic’s mission.