The accelerator is expected to open this fall and serve as a key tenant of the new One Discovery Square near the clinic’s Rochester, Minn. campus. The accelerator includes a commitment in the millions of dollars over three years
Motion Medical will take up about 1,800 square feet at One Discovery Square, a roughly 90,000-square-foot biotech research, collaboration and innovation space that opened this year. (Mortenson is the developer, and Colliers International is handling building leases.)
Mayo Clinic officials consider the four-story building to be the first step in the creation of an innovation campus that will eventually encompass 2 million square feet. Discovery Square is part of the 20-year Destination Medical Center project, in which $585 million in state and local government infrastructure funds are expected to leverage about $5 billion of private investment in Rochester.
Mayo Clinic and Boston Sci have nearly a decade’s worth of collaboration developing new interventional cardiology, neuromodulation and urology devices. Together the companies have filed eight patent applications and collaborated on two first-in-human clinical trials.
Royal Philips (NYSE:PHG) is also reportedly planning to open offices at One Discovery Square. Mayo Clinic officials told Medical Design & Outsourcing last year that the health provider itself would also be a major tenant.