Boston-based technology commercialization firm Allied Minds Inc. launched a new subsidiary addressing medical devices, the company announced today.
The newly formed Allied Minds Devices LLC will focus its efforts on developing medical devices originating from U.S. universities and federally funded research institutions.
The aim is to take new medical technologies and develop them into commercial products within two years, according to a press release.
"Each year we review an incredible number of promising early-stage med-tech innovations with the sole purpose of forming companies," Allied Minds CEO Chris Silva said in prepared remarks. "Traditionally, many investors, including Allied Minds, have often overlooked many of these promising technologies, usually due to their small market size. As a result, many good innovations tend to languish in laboratories."
The new division’s first product comes from Washington University where neurosurgeon Dr. Eric Leuthardt headed a team designing an implantable device for non-invasively monitoring the brain.
Allied Minds Devices will be handled by managing director Omar Amirana who joined the company over the summer, leaving his role as partner at Oxford Biosciences to join Allied Minds.
The devices division will in-license university intellectual property and focus on devices and software applications that address significant un-met need within a modest sized market.